The Agrifood Technology Industry size was valued at USD 25.17 billion in 2024, and the total Global Agrifood Technology Market revenue is expected to grow at a CAGR of 8.1% from 2025 to 2032, reaching nearly USD 46.90 billion.
Market Overview
Agrifood technology refers to the application of advanced technologies and innovations in agriculture and food production price chains. Its purpose is to increase productivity, stability and efficiency from farm to thorns.
Global agrifood technology market has been undergoing a significant transformation, driven by the integration of innovative technologies like artificial intelligence the Internet of Things, robotics, biotechnology as well as blockchain across the agricultural and food value chain. Technologies are allowing farmers and food producers to improve productivity, optimize resource usage, ensure food safety and promote sustainability. In 2024, the market was valued at approximately USD 19.8 billion and was fuelled by rising global food demand, increasing pressure on natural resources, the urgent need for effective and climate-resilient farming practices.
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Market Dynamics:
Data-Driven Transformation in Agriculture to Drive the Market Growth
Over the past five decades, the agricultural industry has undergone a remarkable evolution. The agrifood technology market is driven by technological advancements in machinery that have revolutionized farming, enabling larger-scale operations and increased productivity. Innovations in seeds, irrigation methods, and fertilizers have further propelled growth and yield improvements. Yet, the agriculture sector finds itself on the brink of yet another transformative phase, driven by the integration of data and connectivity. This new era is marked by the infusion of artificial intelligence, analytics, connected sensors, and emerging technologies, promising to elevate yields, optimize resource utilization, and foster sustainability in crop cultivation and animal management, which increases demand for Agrifood Technology Market.
Precision Farming and Intelligent Food Processing to Boost the Market Growth The growth of the Agrifood Technology Market is driven by the integration of technology across both agricultural practices and food processing. Within agriculture, the adoption of advanced farm management systems and the implementation of smart and precision farming techniques are pivotal. Similarly, in food processing, the shift towards smart food processing is propelled by the incorporation of mechanization and automation.
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Segmentation Analysis
The agrifood technology market is segmented based on industry, technology, end-user, and region:
by Industry
Animal
Agriculture
Cold Chain
Food and Beverage
Others
by Technology
Internet of Things (IoT) and Sensors
Artificial Intelligence (AI) and Machine Learning
Robotics and Automation
Biotechnology and Genetic Engineering
Blockchain and Traceability
Data Analytics and Farm Management Software
Vertical Farming Systems
by End Users
Farmers and Growers
Food Manufacturer
Distributors and Retailers
Regional Analysis
Europe is expected to dominate the Agrifood Technology Market during the forecast period. In the European Agrifood Technology Market, an examination of technological advancements can be facilitated through the analysis of patenting activities specific to various sectors. To achieve this, a regional assessment of the Agrifood Technology market was conducted, focusing on the agri-food Technology Industry. This analysis involved the selection of patents within the domains of food, agriculture, and bioeconomy, utilizing a classification framework developed by Fraunhofer ISI et al. in 2016.
Commutator Analysis
Key stakeholders in the agrifood technology market include:
Asia-Pacific
- Kubota Corporation (Japan)
- Taranis (Israel)
- Mahindra & Mahindra (India)
- Raven Industries (subsidiary of CNH) (India)
- XAG Co., Ltd. (China)
Europe
- BASF SE (Germany)
- Yara International ASA (Norway)
- CNH Industrial N.V. (UK/Italy)
- DeLaval (Sweden)
- Ag Leader Technology (UK)
Competitive Landscape
Major key players like BASF SE, Yara International ASA, and CNH Industrial N.V. form the backbone of the agrifood technology market. BASF SE is an international leader in crop protection, digital farming as well as agricultural biotechnology. In 2024, the Agricultural Solutions segment generated almost USD 9.3 billion, accounting for around 8.5% of the global agrifood technology market. BASF continues to invest heavily in R&D over 900 million to advance sustainable farming through its Xarvio Digital Farming Solutions. Yara International ASA focuses on crop nutrition and digital precision agriculture. Revenue is nearly USD 18.6 billion in 2024 and a 6.2% market share.
Press Release Conclusion
The global agrifood technology market is entering a transformative phase, powered by advances in AI, IoT, blockchain, and biotechnology. With projected growth at a robust CAGR of 8.1%, and expected market value nearing USD 47 billion by 2032, the sector offers immense opportunities for innovators, investors, and food producers alike.
The United States and Germany remain at the forefront of this transition, leveraging advanced digital solutions, biotechnology breakthroughs, and sustainability-driven farming practices. As smart agriculture moves toward data-driven, transparent, and autonomous systems, companies positioned at this intersection are poised to define the future of global food security and agricultural productivity.
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