The advancing agriculture sector is driving the growth in the global crowd farming market in the forecast period, 2022-2026. According to TechSci Research report, “Crowd Farming Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”. The global crowd farming market would potentially project impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of surging demand for the higher yielding food crops.
The Important Aspects of Crowd Farming Market
The rapidly rising global population is also driving the growth of the global crowd farming market in the upcoming five years. Technological advancement and extensive research toward providing quality food directly from the farmers are also aiding the growth of the global crowd farming market in the future five years. Moreover, demand for removing the intermediate channels of sales from farmers to the end consumer is further supporting the growth of the global crowd farming market in the next five years. Additionally, the incorporation of information technology (IT) in the agricultural sector is substantiating the growth of the global crowd farming market in the forecast years, until 2026. Furthermore, concerns about poor and degrading conditions of the farmers all around the world specifically in developing countries due to poverty are further influencing the growth of the global crowd farming market in the forecast period.
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The global crowd farming market is segmented on the basis of Agri-commodity, platform, competitional landscape, and regional distribution. Based on Agri-commodity, the market is further fragmented into fruits & vegetables, grains, livestock & their products, and others. Fruits and vegetables are anticipated to hold the largest revenue shares of the market on the account of increasing demand for organic fruits and vegetables in the upcoming five years. Consumers are actively aware of the health benefits of organic food, and increased awareness about health is further aiding the demand for organic fruits and vegetables, thus supporting the growth of the global crowd farming market in the next five years.
On the basis of platform, the market is further bifurcated into website-based, and mobile apps. Mobile apps are anticipated to hold the largest revenue shares in the market and dominate the market segment in the upcoming five years on the grounds of increasing dependency on IT services. Increasing smartphone penetration in the market is also supporting the growth of the global crowd farming market in the next five years. Additionally, increased use of the internet in various services, and the availability of the services of crowd farming on internet-based platforms are further anticipated to substantiate the growth of the global crowd farming market in the future five years. Website-based platforms are also anticipated to register significant growth in the future five years owing to the increasing dependency on internet-based services for various products and service requirements from consumers. To understand the workings, users can come to the website, and they can invest either directly in individual farms or they can invest in the Steward farm trust which is a single investment that is diversified across all the farms.
A partial list of the major market players includes:
- IndieGoGo (crowdfarming.com)
- Crofarm Agriproducts Pvt Ltd.
- Money Farm Gambia
- Crowd Farm Africa Limited
- Livestock Wealth (Pty) Ltd.
- Complete Farmer Limited
Market players are actively involved in product innovation and setting up the platform for market growth and creating more awareness among consumers toward crowd farming.
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“Asia Pacific region might dominate the future five years of market forecast due to the high dependency of the countries like India, China, and Japan, on the agriculture sector to enhance their economic standards. Advancements in agricultural practices are actively incorporated in these countries and these innovations are supporting the growth of the global crowd farming market in the upcoming five years. The demand to feed the ever-increasing population of China and India is aiding the demand and thus the market growth in the future years. Increased awareness about the health benefits of fresh and organic food is further substantiating the growth of the global crowd-farming market in the future five years. New market players are advised to invest in extensive research and innovative agriculture practices along with alternate techniques in irrigation of crops, fertilization, and water management such that their brand establishment and consumer demands are well satisfied,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Crowd Farming Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Agri-Commodity (Fruits & Vegetables, Grains, Livestock & Their Products, Others), By Platform (Website-Based v/s Mobile Apps), By Region”, has evaluated the future growth potential of global crowd farming and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global crowd farming market.
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