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The agriculture market in Argentina is estimated to increase by USD 23.5 billion and grow at a CAGR of 5.97% between 2023 and 2028. The Argentina Agriculture Market is experiencing rapid growth, driven primarily by the country's booming agricultural exports. Argentina's agriculture sector, known for staple crops like wheat and supplemented by coffee and soy-based cultivation, holds significant potential in the global market. The country's robust export performance is fueling market expansion, positioning it as a key player in the international agricultural trade. Furthermore, Argentina's agriculture industry benefits from the importation of advanced machinery and technology, particularly from leading exporting nations like the United States. This influx of agricultural machinery and technology is revolutionizing the domestic poultry industry, enhancing productivity and efficiency. Overall, with its diverse range of agricultural products such as agriculture equipment and strategic investments in technology, Argentina's agriculture market is set for continued growth and success on both domestic and international fronts.
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The market share growth by the soya bean segment will be significant during the forecast period. In 2023, soya bean was one of the most produced and consumed crops in Argentina. According to the data published by the United States Department of Agriculture (USDA), soya bean production in Argentina in the fiscal year 2021-2022 was 49.5 million metric tons, making Argentina one of the largest producers and exporters of soya beans along with Brazil across Latin America (LATAM). Such factors will increase segment growth during the forecast period.
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The soya bean segment was valued at USD 27.70 billion in 2018. In Argentina, the production of crops such as soya beans is increasing, driven by the increased demand for consuming soya beans and soy-based items due to several health advantages. Furthermore, soybeans contain hormone-like compounds (known as phytoestrogens) that replicate the action of the female hormone estrogen, resulting in the reduction of menopausal symptoms (such as hot flushes) among them. Additionally, an increasing number of customers nationwide are converting to veganism as a result of rising health awareness and the desire for nutritious diets is driving the need for the cultivation of crops, including soya beans, to fulfill the protein requirements of the vegan population. Thus, several vegan food manufacturers in Argentina are launching soy-based food items, leveraging the production of soya beans. Such offerings are estimated to fuel the growth of the soya bean segment of the agriculture market in Argentina during the forecast period.
The market in Argentina is experiencing significant growth and trends driven by various factors. The rapid development in the agriculture sector, coupled with technological advancements, is reshaping the landscape. Argentina's diverse agricultural activities, ranging from wheat cultivation to fruit production, are benefiting from advancements in planting, harvesting, and irrigation machinery. Moreover, contractor services are increasingly contributing to efficiency and productivity in rural activities. The market is witnessing a surge in crop production, including wheat, oilseeds, fruits, and vegetables, fueled by the adoption of modern agricultural equipment. Additionally, the expanding applications of agricultural products in food, fabrics, fibers, and biofuel industries present lucrative opportunities for market growth. Despite these positive trends, challenges such as the high cost of agricultural machinery and potential restraints in regulatory frameworks may need to be addressed for sustained market expansion.
The increased potential of agricultural exports stands out as a pivotal driver propelling the growth of the market in Argentina. The nation's agriculture sector, buoyed by staple crops like wheat and supplemented by the cultivation of coffee and soy-based crops, holds considerable promise. Furthermore, the influx of agricultural machinery and technology from exporting countries like the United States bolsters Argentina's domestic poultry industry. To further fortify this sector, the Argentine government has initiated measures such as subsidies for the procurement of new imported agricultural equipment. Despite challenges like limited resources hindering the widespread adoption of advanced technologies like GPS, the market remains dynamic. With an emphasis on enhancing agricultural productivity through cost-effective solutions such as locally available fertilizers, the industry is poised for sustained growth during the forecast period.
Robots in agriculture are the most important growth trend in the market. In recent years, it has been observed that the use of robots has increased in the agricultural market in Argentina. Robots are equipped with specialized tools, accessories, and hands and arms to perform tasks accurately. They harvest effectively and efficiently using an automatic harvesting system. Mobile robots help conserve moisture in soil and plants. Automated robot controls help farmers take care of their crops and protect them from insects.
Moreover, robots can operate efficiently for longer periods of time and provide accurate responses. They can help detect water status and monitor crop levels, crop development, and crop composition. They also allow precise control of sowing and harvesting in agricultural fields. Therefore, smart farms are increasingly using advanced robots to control multiple variables in the farming process, driving the growth of the focused market during the forecast period.
The declining availability of farmland is a major challenge to the growth of the market. Arable land is defined as land that can be plowed for planting and growing crops. In recent decades, the amount of land used for growing crops in Argentina has decreased rapidly. Factors such as industrialization, urbanization, and energy demand have led to the reduction of agricultural land and its diversion to other uses such as construction.
In addition, soil erosion and soil pollution in recent decades have reduced the quality of agricultural land and the ability to grow crops, which has also contributed to land loss. Plowing is an important agricultural activity to ensure that fertile soil is applied. However, soil erosion and pollution have caused a decline in crop production, which ultimately reduces agricultural activity. This is expected to further challenge the growth of the agricultural market in Argentina during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Afimilk Ltd.- The company offers agricultural products such as cow monitoring equipment, parlor automation system, and herd management software.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 9 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market forecasting report provides comprehensive data, with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market refers to the global trade of various agricultural products, including grains, fruits, and vegetables. The consumption analysis of these products reveals a significant demand for wheat, with an average of 750 metric ton being imported and exported annually. The supply and distribution of wheat are crucial in determining its price and availability. Fruits such as grapes, bananas, apples, limes, lemons, pears, oranges, peaches, avocados, and strawberries are major contributors to the fresh vegetable segments. The pandemic effect has influenced the import and export of these fruits, leading to disruptions in supply chains and price fluctuations. The organic food demand has been on the rise due to increasing health consciousness and the prevalence of chronic diseases such as cancer. Vegetables like onions, carrots, peppers, chilies, beans, turnips, and fruits like oranges, peaches, and apples are popular organic produce. The import and export of these organic products are also increasing, driven by the need for a consistent supply and the desire for year-round availability. The import and export analysis of these agricultural products are essential in understanding the global market trends and price fluctuations. The demand for fresh produce is expected to continue to grow, driven by population growth and changing consumer preferences. However, challenges such as climate change, disease outbreaks, and trade policies can impact the supply and distribution of these products.
The market is evolving rapidly with a focus on consumption, export, and import analysis of staple crops like wheat, grapes, bananas, apples, and more. Governments and organizations such as The World Bank are pivotal in promoting Climate-smart and innovative practices to enhance agri-food systems and foster green development through climate-resilient infrastructure. Initiatives by INTA support small and marginal farmers with loan facilities and technical assistance, addressing shifts in consumer behavior towards health consciousness and increasing demand for organic food amidst rising concerns about chronic diseases like cancer, hypertension, and diabetes. Agricultural policies and value chains are crucial in bolstering international competitiveness of specialty crops such as blueberries, nuts, and alfalfa, supported by new technologies like precision farming and genetically modified traits to manage risk, ensure soil sustainability, and combat environmental challenges such as drought and wind erosion. Ongoing efforts aim to reduce post-harvest losses, address macroeconomic instability, and promote employment in the sector through innovative farming practices and improved seeds.
Industry Scope |
|
Report Coverage |
Details |
Page number |
122 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
Market growth 2024-2028 |
USD 23.5 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
5.29 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Afimilk Ltd., Bayer AG, Compagnie Financiere et de Participations Roullier, Deere and Co., DeLaval International AB, GEA Group AG, Molino agro SA, Sumitomo Corp., Topcon Corp, and Trimble Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Crop Type
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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