Market Value of AgTech in China (2017 – 2021, $ Million)
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The Market Value of AgTech in China reached $601.5 million in 2021
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This represents an increase of 18.5% as compared to $507.7 million in 2020
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The indicator recorded a historical growth (CAGR) of 14.7% between 2017 and 2021
Market Value of AgTech in China (2017 – 2021, $ Million)
Agriculture has opened a field of opportunities with respect to investments and improvements in agricultural practices in the shift to sustainable ways of growing food. Sustainable agriculture provides a solution to challenges in securing food supply for the growing population, while mitigating the problems of climate change caused due to the prevailing agricultural practices. The agriculture sector currently accounts for over 10% of the global greenhouse gas (GHG) emissions. This sector was also hugely affected by climate change caused due to GHG emissions. Companies involved in AgTech or Agriculture Technology are highlighting the role of sustainability in increasing yield and decreasing the impact on climate by solving problems related to food loss and wastage, crop yields, methane from livestock,among others.
Sustainable Agriculture or AgTech is an emerging sector. It has the potential to increase agricultural productivity while reducing environmental and social costs due to current agricultural practices. Sustainable Agriculture is the use of technology to increase yield, profitability, and efficiency. Agriculture Technology companies provide products and services to improve the input or output processes in agriculture.
The market for Agriculture Technology is expected to grow by over $10 billion in the next five years with a growth rate of about 150%. China is one of the dominant markets in the Agriculture Technology market along with Canada, Germany, Israel, and the United States of America among the top five countries. China’s agriculture technology market was valued at $601 million in 2021 vs $508 million in 2020, a growth of 18.5%. The country’s market grew at a compounded annual growth rate (CAGR) of 14.7% between 2017 and 2021. China being one of the leaders in the market, is expected to witness continued growth in the sector as the global agriculture technology sector grows with an aim to combat climate change.
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