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(MoneyNewsWire.Net, June 22, 2018 ) The rural activities market is the smallest segment of the agricultural market, worth only 11% of the total behind crops at 55% and animal produce at 34%, but it is the fastest-growing segment, achieving 7.7% year on year against 7.3% for crops and 3.8% for animal produce, a report from The Business Research Company shows. As a result, the global market will grow from its current level of $1796 billion to $2417 billion in 2021.
The largest segments in the rural activities market are agriculture and forestry supports services, and fishing, hunting and trapping, both accounting for around 36% of the total; forestry and logging is a little smaller, at 28%. However, forestry and logging is growing at 9.2% year on year, having recently accelerated from 6.4%; growth in the other two segments is only a little less impressive.
Asia Pacific is not only by a long way the largest, but is also the fastest-growing of the regional rural activities markets. Sales of rural activities’ outputs in the region are currently worth $780 billion but will be worth $1099 billion in 2021. The markets in Africa and Western Europe are the second and third biggest; Africa has recently seen a growth spurt, from 4.3% year on year to 7.2%, but Western Europe has seen a small decline from 4.6% to 4.1% annually.
The rural activities market in China is the world’s largest by far – currently worth 27.4% of the total – and its solid growth means it will gain more in $ sales between now and 2021 than any other country. The USA’s will gain 7.4 $ billion, India’s $54.6 billion, but China’s a whopping $132.7 billion.
The rural activities market is very fragmented with a large number of small players. This extreme fragmentation means that supply-side factors have a strong effect. Changes in output levels directly affect the ex-producer prices which in turn strongly affect demand. Although M&A activity has been at a moderately high level in recent years – BTG Pactual, Rayonier Advanced Materials, Weyerhaeuser Company, and Austevoll Seafood have all done major deals - this is unlikely to change the fundamentals.
The extreme fragmentation of the rural activities market means that supply-side factors have a strong effect. Changes in output levels directly affect the ex-producer prices which in turn strongly affect demand. Thus the use of new technologies, such as drone fishing, remote sensing in agriculture and aerial seed bombers for reforestation, will not only increase the profits of the producers but by increasing yields will also expand the market.
Where to Learn More
Read Rural Activities Market Global Briefing 2018 from The Business Research Company for information on the following:
Markets Covered: Agriculture And Forestry Support Activities, Fishing, Hunting And Trapping, and Forestry and Logging.
Companies Mentioned: Olam International, Weyerhaeuser Company, and Austevoll Seafood
Geographic scope: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Market value in $ billions.
Data segmentations: Regional breakdowns, market share of competitors, key sub segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Interested to know more? Here is a full scope of Services reports to explore:
1. Agriculture Market Global Briefing 2018 (https://www.thebusinessresearchcompany.com/report/agriculture-market-global-briefing-2018)
2. Animal Produce Market Global Briefing 2018 (https://www.thebusinessresearchcompany.com/report/animal-produce-market-global-briefing-2018)
3. Crop Production Market Global Briefing 2018 (https://www.thebusinessresearchcompany.com/report/crop-production-market-global-briefing-2018)
About The Business Research Company
Visit TheBusinesResearchCompany.com. The Business Research Company is a market research and intelligence company which excels in company, market and consumer research. It has research professionals at its office in the UK, India, and the US as well a network of trained researchers globally
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