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May 19, 2017 (M2 PRESSWIRE via COMTEX) --

Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, bio-fuel, medicinal and other products used to sustain and enhance human life. This industry also include horticulture and aquaculture.

Agricultural industry activities includes ploughing, seeding, watering, harvesting and rearing animals. The agriculture industry serves as the source of raw materials for the food processing industry and also to individual customers and commercial establishments. Moreover, many other industries such as the cotton, jute, sugar, tobacco and vegetable oil industries get the major portion of their raw materials from agriculture.

Industrial agriculture is characterized by very large farms with huge inputs of fossil fuels, pesticides and other chemicals, and synthetic fertilizers derived from oil.

Worldwide, 72% of all farms are less than 1 hectare, 12% of farms range between one and two hectares and only 1% of all farms in the world are larger than 50 hectares.

Agriculture is the world's largest industry, employing more than one billion people. Globally, one third of the economically active population works in the agriculture industry.

The global agriculture market grew from $3.1 trillion in 2012 to $4.2 trillion in 2016 at a compound annual growth rate (CAGR) of 7.8%. It is expected to grow from $4.2 trillion in 2016 to $5.7 trillion in 2020 at a compound annual growth rate (CAGR) of 8.4%.

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The key drivers of the forecast growth:

* Continued Technology Investment

* Economic Growth

* Population

* Food Waste

Geographies covered in a descending order:

1. Asia

2. Americas

3. Europe

4. Middle East and Africa

5. Oceania

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Asia was the largest region in the agriculture market in 2016, accounting for $2416 billion or 58.0% market share. More than 2.2 billion people in Asia depend on agriculture for their food. Rice is a prominent crop in Asia. 90% of the world's production and consumption of rice comes from this region

Major competitors in the market:

1. CARGILL, Inc.

2. Bunge Limited(BG)

3. Tyson Foods, Inc.(TSN).

4. Monsanto Co.

5. Syngenta.

The major deal in the agriculture market was executed by Bayer AG which in September 2016 acquired Monsanto Company for $66 billion. The details of the deal involved Bayer paying $128 to every shareholder of Monsanto. Founded in St. Louis, USA, Monsanto operated 10 manufacturing facilities and a research center in California.

The key strategy for the players in the agriculture industry in the forecast period is to use agribots to enhance farm productivity and reduce operational costs.

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