The report forecasts the global agribusiness market to grow at a CAGR of 2.6% during the period 2016-2020. Nanotechnology applications in global agribusiness are considered the new industrial revolution, and both developed and developing countries are investing in this technology to secure a sizeable market share.
Introduction of trade policies in agribusiness is a key trend for this market. Governments of different countries, especially the American and APAC countries, are taking many initiatives to improving trade policies by introducing FTAs across geographical boundaries. FTAs reduce barriers on exports and improve trade opportunities. This helps in expanding agribusiness across nations.
According to the report, increasing demand for livestock and dairy products is a key driver for this market. The consumption of meat and dairy products is growing rapidly due to different factors like high disposable income, increasing urbanization, and changing consumption patterns. In China, the demand for pork is likely to increase. In Argentina and Brazil, the demand for beef is expected to grow rapidly in the coming years. By 2030, the consumption of beef is expected to increase by 68 million tons. This will lead to the growth of agribusiness companies involved in core production as well as livestock breeding and feed.
Further, the report states that changes in land reform legislation is a challenge to market growth.