Global B2B E-commerce in Agriculture Market is Expanding

Significant technological advances over the past decade are a reason for the development of e-commerce platforms across the world. In the agriculture industry, the internet allows farmers to trade raw materials and machine spare parts for their needs. Farmers can utilize B2B e-commerce to advertise their crops and purchase materials such as fertilizers, insecticides, heavy equipment, and crop protection products. B2B e-commerce is a great platform for the agriculture industry.

There are many benefits of B2B e-commerce in agriculture, including promotion of flow, market transparency, price discovery, and reduction of transaction costs. Increased penetration of the internet and increasing usage of mobile phones are fueling the growth of B2B e-commerce in the agriculture market. Rising consumer awareness of the benefits of using the internet to promote agriculture practices is also driving the expansion of B2B e-commerce in agriculture market.

According to the research report, the global B2B e-commerce in the agriculture market was valued at USD 6.90 billion in 2021 and is expected to reach USD 11.86 Billion By 2030, growing at a CAGR of 6.4% during the forecast period.

B2B E-Commerce in Agriculture Market: Growth Drivers

• The adoption of the internet and mobile phones is driving the market growth.

Increased penetration of the internet and the rising usage of mobile phones are the key factors fueling the growth of B2B e-commerce in agriculture market. Growing consumer awareness about the benefits of using the internet to promote agriculture applications is augmenting market growth. Increasing adoption of B2B e-commerce systems and simple online payment choices is boosting the expansion of the industry. Leading players are continuously emphasizing developing advanced solutions for the B2B e-commerce of agriculture. Therefore, the advancement of the solution for leveraging farmers and eliminating middlemen is expected to accelerate the expansion of B2B e-commerce in agriculture market. For instance, in May 2022, India’s premier agritech firm for agriculture ecosystem solutions, nurture, announced a collaboration with the Dubai-based pesticide company “AgFarm.”

Get a Sample for this Research Report Here

B2B E-Commerce in Agriculture Market: Report Segmentation

• Insight by Deployment

Based on deployment, the supplier-oriented segment is anticipated to account for the largest market share in the global industry. Suppliers deliver a variety of products and services to the clients and also aid them in their businesses. Suppliers can utilize new forms of advertising and distribution channels with the support of supplier-oriented marketplaces.

Geographic Overview: B2B E-Commerce in Agriculture Market

• North America dominates the global B2B e-commerce in agriculture market

Based on geography, North America held the largest share in 2021 in the global B2B e-commerce in agriculture market. This growth can be attributed to the increasing number of mobile devices coupled with high internet penetration in the region. Further, the rising use of B2B e-commerce in rural areas to provide farmers access to agriculture trading platforms is expected to augment the demand for B2B e-commerce in agriculture. A surge in demand for B2B e-commerce platforms across countries such as Canada and Mexico is expected to fuel market growth over the forecast period.

Moreover, the Asia Pacific is anticipated to record a high CAGR during the projected period owing to the developing agriculture industry and technological advancements, along with rising demand for B2B e-commerce platforms in emerging economies in the Asia Pacific. Major companies in the region are focusing on broadening their consumer base and geographical reach in the region, which is expected to flourish with the expansion of B2B e-commerce in agriculture industry.

View Detail Report on B2B E-commerce in Agriculture

Recent Developments

In June 2020, OURFARM, a new agriculture business-to-business (B2B) e-commerce platform, plans to transform the agribusiness distribution network by allowing farmers to connect directly to business owners and increase their revenue by removing middlemen costs.