E-Commerce of Agricultural Products Market Size, Trends [2031]
E-Commerce of Agricultural Products Market Size, Trends [2031]
Segments - E-Commerce of Agricultural Products Market by Application (B2C, B2B, and Others), Type (Snack foods, Fruits & Vegetables, Grain & Oil, Meat & Aquatic Products, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :FB-6052
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Report Description
E-Commerce of Agricultural Products Market Outlook 2031
The global e-commerce of agricultural products market size was USD 33.7 Billion in 2022 and is likely to reach USD 58.8 Billion by 2031, expanding at a CAGR of 6.93% during 2023–2031. The market is driven by the increasing popularity of e-commerce platforms and their attractive offers.
Growing penetration of e-commerce in the agriculture sector is expected to boost the market during the projection period. Efficient supply chain management provided by the e-commerce platforms streamlines the agricultural supply network. This reduces inefficiencies and ensures the timely delivery of agricultural products from farmers to consumers. The market is likely to register significant propulsion in the coming years, due to the expansion of the e-commerce business.
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As per the recent data from the International Trade Administration, a steady rise in worldwide e-commerce sales for B2B businesses over the period of the last decade was registered. Energy, advanced manufacturing, healthcare, and professional business services businesses are fueling most of this B2B sales value.
E-commerce platforms enable direct transactions between farmers and consumers. This eliminates the need for a middleman and provides farmers with better control over pricing and product visibility. Furthermore, the high demand for exotic and organic food products and the easy availability of a wide range of such products on e-commerce platforms are anticipated to fuel the market in the coming years.
The COVID-19 pandemic hindered the market, due to the lockdown restrictions imposed by various governments around the globe. The import-export activities were completely halted, which disrupted the global supply chain. This severely affected the e-commerce business, as the supply chain constitutes a major part of its functioning. This impeded the e-commerce of agricultural products.
Impact of Artificial Intelligence (AI) in E-Commerce of Agricultural Products Market
The use of artificial intelligence is likely to provide substantial propulsion to the e-commerce of agricultural products market. AI enhances efficiency by optimizing supply chain management, predicting demand patterns, and facilitating personalized recommendations for customers. Additionally, AI-driven tool enables farmers and suppliers to make data-driven decisions, improving productivity and fostering sustainable practices in the agricultural sector.
E-Commerce of Agricultural Products Market Dynamics
Major Drivers
Growing internet penetration is expected to drive the market during the projection period. It enhances the accessibility for farmers and buyers, facilitating direct connection through online platforms. This boosts the efficiency of agricultural product transactions, reducing the involvement of middleman. Furthermore, online platforms offer a wide market reach, enabling farmers to showcase and sell their products to a large audience. This is projected to impel the market in the coming period.
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As per a survey conducted in October 2023, approximately 5.18 billion internet users operate across the world. This is equivalent to around two-thirds of the global population.
Existing Restraints
Challenges in infrastructure are likely to hamper the market during the forecast period. Problems, such as the inadequacy of transportation networks and storage facilities hinder the efficient distribution of agricultural products in e-commerce. Limited connectivity and unreliable logistics lead to delays, affecting product freshness and overall customer satisfaction. This is likely to impede the market during the forecast period.
Emerging Opportunities
Collaboration with agri-tech startups is anticipated to provide substantial growth opportunities for the market. It offers e-commerce platforms with the access to innovative solutions for inventory management, supply chain optimization, and quality control in the agricultural products market. Additionally, the incorporation of technological tools enhances real-time monitoring, reduces wastage, and ensures product traceability.
Scope of the E-Commerce of Agricultural Products Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
E-Commerce of Agricultural Products Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Application (B2C, B2B, and Others) and Type (Snack foods, Fruits & vegetables, Grain & oil, Meat & aquatic products, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
WOMAI; Walmart; US FOODS, INC.; JD.com, Inc.; eBay Inc.; Coupang Corp; Cdiscount; Amazon.com, Inc.; Alibaba Group; and Agrellus, Inc. |
E-Commerce of Agricultural Products Market Segment Insights
Application Segment Analysis
Based on application, the e-commerce of agricultural products market is divided into B2C, B2B, and others. The B2C segment is projected to hold a major share of the market during the projection period, due to the increasing consumer demand for convenient online shopping of fresh produce and related goods. The adoption of digital platforms by farmers and vendors facilitates direct connection with consumers. This eliminates the need for intermediaries, thereby considerably lowering the cost of end-use products. The segment is likely to grow with the increasing penetration of the internet among consumers.
Type Segment Analysis
Based on type, the global market is segregated into snack foods, fruits & vegetables, grain & oil, meat & aquatic products, and others. The snack foods segment is projected to expand at a high CAGR during the forecast period, as a result of the changing consumer preferences and convenience of online shopping. High demand for diverse and unique snacks, coupled with the ease of access through digital platforms, such as Amazon and eBay, is leading to market expansion. Moreover, the facility of online food delivery for delicious snacks without having to search for them in stores is expected to propel the segment.
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Based on a survey report from June 2023, around 76 billion USD was generated through meat delivery services in the US in 2022. Online grocery and meat delivery services are expected to register an upward trajectory in the coming years, as per the report.
The grain & oil segment is anticipated to expand at a significant pace in the market, as e-commerce platforms provide farmers and suppliers with a direct avenue to reach a large customer base, streamlining the distribution process. This is further propelled by technological advancements, improved logistics, and the ability to offer a diverse range of grain and oil products online. This is likely to spur the segment in the coming years.
Regional Outlook
In terms of region, the global e-commerce of agricultural products market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America is expected to dominate the market during the projection period, due to the increasing consumer demand for online shopping experiences and high emphasis on food traceability. Adoption of precision farming practices is rising in the region. This significantly enhances the agricultural productivity. Moreover, the presence of several key market players in this region is expected to propel the market in the coming years.
The market in Asia Pacific is projected to register significant growth, owing to the increasing internet penetration, smartphone usage, and adoption of digital payment methods across several countries, such as India and China, in this region. Connectivity in rural areas is improving, hence, a large number of farmers and suppliers is able to participate in online trading platforms. These factors are expected to lead to substantial market expansion in this region in the coming years.
Segments
The e-commerce of agricultural products market has been segmented on the basis of
Application
- B2C
- B2B
- Others
Type
- Snack foods
- Fruits & vegetables
- Grain & oil
- Meat & aquatic products
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global e-commerce of agricultural products market are WOMAI; Walmart; US FOODS, INC.; JD.com, Inc.; eBay Inc.; Coupang Corp; Cdiscount; Amazon.com, Inc.; Alibaba Group; and Agrellus, Inc.
These companies implement development strategies, such as acquisitions, mergers, partnerships, product launches, collaborations, and production expansion, to expand their consumer base worldwide. For instance,
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In June 2023, Amazon, one of the global leaders in e-commerce, signed a pact with the Indian Council of Agricultural Research (ICAR) to empower farmers in India registered under the Kisan store. This is intended to create a flourishing environment for the farming community, laying the base for a direct supply chain.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. E-Commerce of Agricultural Products Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. E-Commerce of Agricultural Products Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. E-Commerce of Agricultural Products Market - Supply Chain
4.5. Global E-Commerce of Agricultural Products Market Forecast
4.5.1. E-Commerce of Agricultural Products Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. E-Commerce of Agricultural Products Market Size (000’ Units) and Y-o-Y Growth
4.5.3. E-Commerce of Agricultural Products Market Absolute $ Opportunity
5. Global E-Commerce of Agricultural Products Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
5.3.1. Snack foods
5.3.2. Fruits & vegetables
5.3.3. Grain & oil
5.3.4. Meat & aquatic products
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global E-Commerce of Agricultural Products Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
6.3.1. B2C
6.3.2. B2B
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global E-Commerce of Agricultural Products Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. E-Commerce of Agricultural Products Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
8. North America E-Commerce of Agricultural Products Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America E-Commerce of Agricultural Products Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
8.4.1. Snack foods
8.4.2. Fruits & vegetables
8.4.3. Grain & oil
8.4.4. Meat & aquatic products
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
8.7.1. B2C
8.7.2. B2B
8.7.3. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
9. Latin America E-Commerce of Agricultural Products Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America E-Commerce of Agricultural Products Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
9.4.1. Snack foods
9.4.2. Fruits & vegetables
9.4.3. Grain & oil
9.4.4. Meat & aquatic products
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
9.7.1. B2C
9.7.2. B2B
9.7.3. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
10. Europe E-Commerce of Agricultural Products Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe E-Commerce of Agricultural Products Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
10.4.1. Snack foods
10.4.2. Fruits & vegetables
10.4.3. Grain & oil
10.4.4. Meat & aquatic products
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
10.7.1. B2C
10.7.2. B2B
10.7.3. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
11. Asia Pacific E-Commerce of Agricultural Products Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific E-Commerce of Agricultural Products Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
11.4.1. Snack foods
11.4.2. Fruits & vegetables
11.4.3. Grain & oil
11.4.4. Meat & aquatic products
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
11.7.1. B2C
11.7.2. B2B
11.7.3. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
12. Middle East & Africa E-Commerce of Agricultural Products Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa E-Commerce of Agricultural Products Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa E-Commerce of Agricultural Products Market Size and Volume Forecast by Types
12.4.1. Snack foods
12.4.2. Fruits & vegetables
12.4.3. Grain & oil
12.4.4. Meat & aquatic products
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa E-Commerce of Agricultural Products Market Size and Volume Forecast by Applications
12.7.1. B2C
12.7.2. B2B
12.7.3. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa E-Commerce of Agricultural Products Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global E-Commerce of Agricultural Products Market: Market Share Analysis
13.2. E-Commerce of Agricultural Products Distributors and Customers
13.3. E-Commerce of Agricultural Products Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. WOMAI
13.4.2. Walmart
13.4.3. US FOODS, INC.
13.4.4. JD.com, Inc.
13.4.5. eBay Inc.
13.4.6. Coupang Corp
13.4.7. Cdiscount
13.4.8. Amazon.com, Inc.
13.4.9. Alibaba Group
13.4.10. Agrellus, Inc.
Methodology
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