UK Agritech Market 2024-2032
According to IMARC Group's report titled "UK Agritech Market Report by Type (Biotechnology and Biochemical, Big Data and Analytics, Sensors and Connected Devices, Mobility, and Others), Application (Irrigation, Production and Maintenance, Supply Chain, Marketplace, and Others), Sector (Agriculture, Smart Agriculture, Precision Farming, Agrochemicals, Biotechnology, Indoor Farming, and Others), and Region 2024-2032", the report presents a thorough review featuring the market share, growth, share, trends, and research of the industry.
How Big is the UK Agritech Industry ?
The UK agritech market was valued at USD 563.44 Million in 2023 and is projected to grow to USD 1488.71 Million by 2032, with an expected compound annual growth rate (CAGR) of 10.20% from 2024 to 2032.
In the United Kingdom, the farming market proves strong growth due to advancement in the environmental sustainability of agriculture and strict regulatory compliance. Additionally, rising trends of precision agriculture, driven by advanced analytics and IoT technology, are streamlining crop management and resource utilization, boosting the market. Moreover, incentivizing government initiatives are promoting creativity and collaboration in the industry, which is also widening the market scope.
In addition, as more people realize the importance of securing food resources despite the disruptions in the international supply chain, the need for smart farming technologies becomes imperative, which in turn fuels the development of the market. Besides, sustained development of artificial intelligence and robotics are increasing efficiency and less dependence on manual work, which is also a key factor for the growth of the market. In addition, the rapid incorporation of biotech derivatives in seeds characteristics and protecting of crops is increasing yield resistance which is supportive to the market.
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UK Agritech Market Scope and Growth Analysis:
The market scope in the United Kingdom is highly increasing with the integration of blockchain to achieve supply chain transparency that is traceable from farm to fork. In addition, the trends of localized food production that are in tandem with carbon reduction goals enhance the market scope. It does support the market as there has been continuous development of advanced smart sensors and real-time monitoring tools, which help improve effective usage of water and nutritional inputs, thus improving positive influence on the market.
Along with this, bringing renewables into agricultural processes further reposes farm practices with sustainability, where market presence is even bolstered. Strategic collaborations between tech startups and research institutions are thus broadening the scope of the market by laying a foundation for scalable solutions, which are catering to both large-scale and smallholder farms. The market analysis reflects that rapid expansion into agri-fintech areas is allowing easier access to financial services and risk management tools and also diversifying the market landscape.
UK Agritech Industry and Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Biotechnology and Biochemical
- Big Data and Analytics
- Sensors and Connected Devices
- Mobility
- Others
Application Insights:
- Irrigation
- Production and Maintenance
- Supply Chain
- Marketplace
- Others
Sector Insights:
- Agriculture
- Smart Agriculture
- Precision Farming
- Agrochemicals
- Biotechnology
- Indoor Farming
- Others
Regional Insights:
- London
- South East
- North West
- East of England
- South West
- Scotland
- West Midlands
- Yorkshire and The Humber
- East Midlands
- Others
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Other key areas covered in the report:
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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