Market Overview

The global Agrifood Technology Market is undergoing a major transformation, with its size estimated at approximately USD 25.17 billion in 2024 and projected to grow at a robust CAGR of around 8.1 % from 2025 to 2032, reaching nearly USD 46.90 billion by the end of the forecast period. Agrifood technology — often termed “agritech” — encompasses the use of advanced technologies across the agricultural production and food value-chain, leveraging innovations such as artificial intelligence (AI), Internet of Things (IoT), robotics, biotechnology, blockchain, and farm-management software. This integration is driving greater productivity, resource-optimization, food-safety and sustainability. Several key macro-drivers underlie this momentum: the growing global demand for food, pressures on land and water resources, labour scarcity in agriculture, and government policies encouraging digitisation and climate-resilient farming.

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Market Segmentation

The market breaks down across multiple dimensions:

• By Technology: Main technology verticals include IoT & sensors; AI & machine learning; robotics & automation; biotechnology & genetic engineering; blockchain & traceability; data-analytics/farm-management software; and vertical-farming systems. Within this breakdown, biotech & genetic-engineering is expected to dominate in many markets due to innovations in pest control, resilient crops and disease resistance.

• By Industry/Application: The market is categorised into agriculture, animal, cold chain, food & beverage, and others. In 2024, the agriculture segment held the largest share (around 42 %) thanks to widespread adoption of smart-farming tools, AI-powered crop-monitoring and precision-agriculture systems.

• By End-User: The technologies are being adopted by farmers/growers, food-manufacturers, distributors/retailers alike, with each end-user segment offering unique growth opportunities.

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Regional Insights

Geographically, Europe is poised to dominate the agrifood technology market over the forecast period. The region benefits from strong technological infrastructure, early adoption of agri-tech solutions, and intensive R&D activities. Patent-analysis highlights that countries such as Germany, France and the Netherlands lead the European innovation curve in agriculture and food-tech. In addition, the European agri-food-tech start-up ecosystem is booming, indicating a vibrant, cutting-edge environment. Other regions covered include North America (US, Canada, Mexico), Asia-Pacific (China, India, Japan, etc.), and Middle East & Africa — each with varying growth trajectories driven by local agriculture pressures, resource constraints and government-led digital-farming programmes.

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Competitive Landscape

Key Players are:

North America
1. Corteva Agriscience (USA)
2. John Deere (USA)
3. Trimble Inc. (USA)
4. Indigo Agriculture (USA)
5. AGCO Corporation (USA)

Europe
6. BASF SE (Germany)
7. Yara International ASA (Norway)
8. CNH Industrial N.V. (UK/Italy)
9. DeLaval (Sweden)
10. Ag Leader Technology (UK)

Asia-Pacific
11. Kubota Corporation (Japan)
12. Taranis (Israel)
13. Mahindra & Mahindra (India)
14. Raven Industries (subsidiary of CNH) (India)
15. XAG Co., Ltd. (China)

South America
16. Raízen (Brazil)
17. Grupo Los Grobo (Argentina)
18. Solinftec (Brazil)
19. Jacto (Brazil)
20. Aegro (Brazil)

Middle East & Africa
21. Aerobotics (South Africa)
22. AgriEdge (UAE)
23. Twiga Foods (Kenya)
24. Farmcrowdy (Nigeria)
25. Zenvus (Nigeria)

Market Highlights

Some of the standout trends and developments in this space include:

• AI & machine-learning integration: Used for predictive analytics, yield-forecasting and crop-health monitoring.

• IoT-enabled smart-farming: Adoption of sensors, drones and GPS-enabled systems is enabling real-time field monitoring, resource optimisation and precision input usage.

• Blockchain for traceability: Ensures transparency across the food-value chain from farm to fork, addressing consumer demand for safety and origin-certification.

• Smart food-processing: Automation, robotics and intelligent packaging (with sensors) are revolutionising food-manufacturing, cold-chain logistics and retail distribution.

• Photonics and post-harvest tech: Emerging applications in quality-assessment of produce, especially in fruits and vegetables.
  Notable recent developments: e.g., a major agricultural-drone manufacturer launched an automated-seeding & pesticide-spraying drone in mid-2024; a leading agricultural-equipment manufacturer introduced an AI-powered “see & spray” sprayer that identifies weeds and targets only them; a large crop-nutrition firm inked a strategic partnership to infuse AI into its digital-platform for precision-nutrition.

Conclusion

The agrifood technology market stands at a critical juncture, driven by powerful converging forces — technological innovation, sustainability imperatives and growing food-demand. With a projected market value of nearly USD 46.90 billion by 2032, the sector offers tremendous opportunity for stakeholders across the value-chain: from farmers and food-processors to technology-providers and investors. As adoption of AI, IoT, robotics and biotech scales up, the agrifood landscape is poised to become more efficient, traceable and resilient. European leadership in innovation, coupled with increasing R&D investments from global players such as BASF, Yara, John Deere and CNH Industrial, indicates that the future of farming and food is digital, connected and sustainable.

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