Taking a look at the projected growth for ag markets. That’s coming up on This Land of Ours.
The Business Research Company’s latest look into the growth of agricultural markets shows big jumps ahead. The global agriculture market is projected to reach a substantial size of just over $19.8 billion by 2027, with a robust Compound Annual Growth Rate (CAGR) of 9.1%.
The global market for genetically modified crops is forecasted to reach $28.03 billion by 2027, displaying a Compound Annual Growth Rate (CAGR) of 5.9%. This growth is attributed to the escalating demand for genetically modified (GM) crops, which possess advantageous traits like insect tolerance and herbicide tolerance.
The global organic farming market is projected to expand to $287.83 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 11.3%. This growth is primarily propelled by the environmental benefits derived from organic farming practices.
The global market encompassing greenhouse, nursery, and flowers sectors is anticipated to reach $726.96 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 9.5%.
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Sabrina Halvorson
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet News Hour and The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.