Advancing agriculture sector is driving the growth in 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 an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of surging demand for the higher yielding food crops. 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 is also aiding to 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, 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 toward poor and degrading conditions of the farmers all around the world specifically in the developing countries due to poverty is 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 the organic fruits and vegetables in the upcoming five years. Consumers are actively aware about the health benefits of organic food, and increased awareness about health is further aiding the demands 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 of the market and dominate the market segment in the upcoming five years on the grounds of increasing dependency on the 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 internet in various services, and availability of the services of crowd farming on internet-based platforms is 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 the 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:
- Steward
- IndieGoGo (crowdfarming.com)
- Crofarm Agriproducts Pvt Ltd.
- Money Farm Gambia
- Crowd Farm Africa Limited
- Farmcrowdy
- eFarms
- Livestock Wealth (Pty) Ltd.
- Complete Farmer Limited
Market players are actively involved in the product innovation and setting up the platform for the market growth and to create more awareness among the consumers toward crowd farming.
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“Asia Pacific region might dominate the future five years of market forecast due to high dependency of the countries like India, China, Japan, over agriculture sector to enhance their economic standards. Advancements in the 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 to the demand and thus the market growth in the future years. Increased awareness about the health benefits of the 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 the 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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