Contract Farming Market Size is Anticipated to Surge $78.42 Billion by 2030 with 3.73% CAGR | Global Agricultural Evolution

New York, NY, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Contract Farming Market By Crop Type (Cereals, Fruits & Vegetables, Oilseeds, Pulses, Others), By Livestock Type (Poultry, Dairy, Swine, Cattle, Aquaculture, Others), By Contracting Parties (Agribusiness Firms, Processors, Cooperatives, Exporters, Retailers, Others), And By Region – Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Contract Farming Market size & share in terms of revenue was valued at USD 58.75 billion in 2022 and it is expected to surpass around USD 78.42 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.73% during the forecast period 2023 to 2030.”

What is Contract Farming? How big is the Contract Farming Industry?

Contract Farming Market Coverage & Overview:

Contract farming is an agricultural arrangement wherein farmers and agribusiness companies or buyers establish formal agreements to produce and supply specific crops or livestock. This practice aims to create a mutually beneficial partnership between the two parties, whereby the company provides essential resources like seeds, fertilizers, technical guidance, and even financial support to the farmers. Contract farming can offer several advantages, such as reduced production risks for farmers, assured markets for their produce, improved access to modern agricultural practices, and increased income potential. Moreover, it can also raise concerns related to power imbalances, the potential exploitation of farmers, and the need for clear legal frameworks to protect the interests of both parties involved. Furthermore, effective contract farming arrangements depend on equitable terms, transport communication, and effective monitoring mechanisms to ensure sustainability and fairness in the agricultural supply chain.

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Global Contract Farming Market: Growth Factors

Increasing demand for agricultural products and food security is likely to embellish global contract farming market trends. Contract farming plays a vital role in meeting the demand by providing the required infrastructure for agriculture. Agribusiness enables processors and retailers to provide stable and reliable agricultural products. It encourages farmers to adopt better agricultural practices, including the use of modern technology, efficient crops, and production methods. This leads to enhanced production, ensuring food availability. Second, contract farming often focuses on specific crops or livestock that are in high demand. By signing contracts, farmers are guided by market signals to produce the products they need. For instance, in March 2023, Cargill, a US-based multinational food corporation, acquired Protera, a Canadian agritech company. This acquisition will allow Cargill to expand its portfolio of sustainable protein products. Protera is a leader in the development of plant-based proteins that are made from non-GMO ingredients. The acquisition will give Cargill access to Protera's technology and expertise in developing plant-based proteins, as well as its portfolio of brands, including Puris and SoyaPro.

Another significant growth driver of the contract farming market is the increasing market demand for traceable and high-quality agricultural produce. Consumers are becoming more conscious about the origin, quality, and safety of the food they consume. This trend has prompted agribusiness companies and retailers to seek out reliable sources of produce that can adhere to stringent quality standards and provide traceability throughout the supply chain.

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Report Scope

Contract Farming Market: Segmentation Analysis

Based on the crop type, the global market is bifurcated into cereals, fruits & vegetables, oilseeds, pulses, and others. The fruits & vegetables segment is expected to capture the largest revenue share during the forecast period. Consumers around the world are increasingly health-conscious and looking for nutritious & tasty options in their diets. This trend has resulted in increased demand for various fruits and vegetables, including exotic and specialty crops. Contract farming provides agribusinesses and retailers a platform to work with farmers to grow a variety of fruits and vegetables to meet specific quality standards and consumer preferences. By entering into formal agreements, these companies can ensure a steady and continuous supply of fresh produce to meet market demand.

Based on the livestock type, the global Contract Farming industry is divided into poultry, dairy, swine, cattle, aquaculture, and others. The aquaculture segment is expected to capture the largest revenue share during the forecast period. The aquaculture sector is increasing focus on sustainable seafood production and the rising demand for seafood products. With the depletion of wild fish stocks and growing environmental concerns, aquaculture is gaining attention as a viable solution to meet global seafood demand while minimizing impacts on natural ecosystems. Contract farming acts as a catalyst for sustainable aquaculture by facilitating collaboration between aquaculture companies and farmers. These agreements promote responsible agricultural practices, efficient use of resources, and adherence to environmental standards.

Based on the contracting parties, the market is segmented into agribusiness firms, processors, cooperatives, exporters, retailers, and others. The agribusiness firms’ segment is expected to capture the largest revenue share during the forecast period. Agribusiness in the context of the contract farming market is the pursuit of enhanced supply chain efficiency and risk mitigation. Agribusiness companies, which encompass various stages of the agricultural value chain from production to distribution, are driven by the need to ensure a consistent and reliable flow of raw materials to meet market demand.

The global Contract Farming market is segmented as follows:

By Crop Type    

• Cereals (e.g., wheat, rice, maize)
• Fruits
•  Vegetables
• Oilseeds
• Pulses
• Others

By Livestock Type           

• Poultry
• Dairy
• Swine
• Cattle
• Aquaculture
• Others

By Contracting Parties  

• Agribusiness firms
• Processors
• Cooperatives
• Exporters
• Retailers
• Others

Browse the full “Contract Farming Market By Crop Type (Cereals, Fruits & Vegetables, Oilseeds, Pulses, Others), By Livestock Type (Poultry, Dairy, Swine, Cattle, Aquaculture, Others), By Contracting Parties (Agribusiness Firms, Processors, Cooperatives, Exporters, Retailers, Others), And By Region – Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/contract-farming-market-size

Competitive Landscape

Some of the main competitors dominating the global Contract Farming market include - 

• Cargill Inc.
• Archer Daniels Midland Company (ADM)
• Olam International Limited
• Nestlé SA
• Tyson Foods Inc.
• JBS SA
• Bunge Limited
• Wilmar International Limited
• Louis Dreyfus Company (LDC)
• COFCO Corporation

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global Contract Farming market is estimated to grow annually at a CAGR of around 3.73% over the forecast period (2023-2030).
• In terms of revenue, the global contract farming market size was valued at around $ 58.75 billion in 2022 and is projected to reach $ 78.42 billion, by 2030.
• Increasing demand for agricultural products and food security is likely to embellish global contract farming market trends. Contract farming plays a vital role in meeting the demand by providing the infrastructure and supplies required for agriculture.
• Based on the crop type, the fruits & vegetables segment is expected to capture the largest revenue share over the forecast period.
• Based on livestock type, the aquaculture segment is expected to capture the largest revenue share over the forecast period.
• Based on the contracting parties, the agribusiness firms’ segment is expected to capture the largest revenue share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Contract Farming industry?
• What are the main driving factors propelling the Contract Farming Market forward?
• What are the leading companies in the Contract Farming Industry?
• What segments does the Contract Farming Market cover?
• How can I receive a free copy of the Contract Farming Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Crop Type, By Livestock Type, By Contracting Parties, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

In North America, the contract farming market is at the forefront of agricultural innovation, driven by advanced technological solutions and evolving consumer preferences. Agribusinesses and farmers are working together to implement precision agriculture, using cutting-edge technologies such as drones, satellite imagery, and data analytics to optimize crop management. These innovations improve productivity, resource efficiency, and sustainability, and meet the growing demand for traceable, high-quality products. As consumers prioritize transparency and environmentally friendly practices, contract farming in North America is emerging as a model for leveraging technology to meet market demands while ensuring that agricultural supply chains are more efficient and responsive.

Europe has a significant contract farming industry; the European market is guided by a commitment to sustainable farming and ensuring food security. Collaboration between agribusiness and farmers focuses on adopting environmentally friendly practices, reducing chemical use, and promoting responsible land & resource management. This growth momentum resonates with consumers who value sustainability and drive ethically manufactured & environmentally friendly products.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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