How to Improve Your Agriculture Business?

The 12 nations with the most advanced agricultural technology are covered in this article. You can skip our in-depth examination of the agricultural sector, the impending issue of food insecurity, and trends to watch in 2023 and jump straight to the list of the five nations with the most advanced agricultural technology.

Agricultural Armageddon
According to UN findings, unsustainable agricultural practises have caused 40% of the land to become too degraded for profitable agriculture, and 90% of the world’s topsoil would be further at risk by 2050. If that weren’t terrible enough, there is an 11 gigaton GHG reduction gap between the target level needed to keep temperatures from increasing above 2°C and the projected agricultural emissions by the middle of the century.

Furthermore, 70% of the fresh water supply in the world—which is rapidly depleting—is needed for agriculture. According to Pew Trusts, by 2025, more than half of the world’s population would live in areas with a shortage of freshwater. However, according to UN projections, the human population will exceed 10 billion by 2050. According to Harvard Business Review, this will result in a 59% to 98% increase in food demand.

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Food production will need to rise by over 50% to keep up, but under the current circumstances, that rate would be too close to the overshoot zone to be sustainably high.

Technology-Based Options

The situation is dire, and with the current momentum of the population projection, technology is the best hope for averting a crisis that may otherwise result in widespread starvation, civil unrest, and worldwide instability. Agri-tech, also referred to as agricultural technology, is set to take on an overly significant role in the near future.

The Agritech Sector: A Study
The quantitative forecasts for the agri-tech sector take into account the aforementioned reality. According to market research from Spherical Research, it was valued at $19.5 billion in 2021 and is anticipated to increase to $46.4 billion by 2030, expanding at a healthy CAGR of 17.3%.

Due to the emergency, which is taken into account in the forecast, governments, especially in the US, are also anticipated to intervene and help the agri-tech business through subsidies. Despite this, stagflation and supply-chain issues have slowed down investment in agri-tech, which may cause a delay.

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Important Agri-Tech Players and Trends for 2023
As the most important issue facing the industry, sustainability is a topic that some of the most important agricultural technology address.

An significant technology in this area is indoor vertical farming, which has been demonstrated to use 99% less land and 70% less water than traditional farming methods. AeroFarms, InFarm, and Agricool are prominent participants in this market. They have offices in the US, Germany, and France, respectively.

Then there are N-Drip micro-irrigation devices, which increase crop yield while using 50% less water. The Toro Company (NYSE:TTC) and Lindsay Corporation (NYSE:LNN), among others, are significant businesses in the micro-irrigation sector.

The business is also run by a few information technology companies. For instance, Microsoft Corporation’s (NASDAQ:MSFT) FarmBeats tracks soil moisture and temperature using machine learning and cloud computing to help with effective irrigation management and water conservation.

Read: How Tesla is Beating Its Competitors

High agricultural output and advanced economies are two characteristics shared by the vast majority of agri-tech-advanced nations. These nations’ high agricultural output has forced them to invest in agritech innovation in order to maintain and increase their yields.

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Our Technique
Our ranking of the top 12 agricultural technology nations is based on the number of agritech startups that are present in each nation. We obtained the information from Tracxn, a top platform that monitors startups across more than 230 industries and 230 nations.

We’ve spoken about the significant businesses as well as additional elements like funding and the actual application of these technologies.
With a GDP of $1.8 trillion as of 2021, South Korea is one of the richest and most developed nations in East Asia. Its agriculture industry contributed 1.84% of its GDP in the same year. Rice is the nation’s principal crop.

In the nation, a smart-agriculture ecosystem has been growing. In 2014, only 23 homes and 405 hectares of land were set aside for smart farms and animals, respectively. These numbers have increased dramatically since 2021, reaching 6,485 hectares of land and 4,743 livestock families, respectively.

Some well-known businesses in South Korea are attempting to upend the market and address issues with agricultural sustainability. Green Labs, G+ Flas Life Sciences, and EGG Tube are notable businesses.
Another East Asian nation on the top 10 list for agricultural technology is Japan. According to the World Bank, the country’s agricultural sector would account for 1% of its GDP in 2022. Japan intends to more than treble the $9 billion in agricultural exports it had in 2019 to $20 billion.

The nation of far-east Asia is using technology to transform its agriculture sector in that sequence. Two instances of very inventive businesses that are upending their respective industries are Spread and Routerek. The former grows lettuce hydroponically, whilst the latter has created sensor-based drip irrigation systems.

When it comes to irrigation effectiveness, Routerek’s business strategy is comparable to those of Lindsay Corporation (NYSE:LNN), The Toro Company (NYSE:TTC), and Microsoft Corporation (NASDAQ:MSFT).
According to Statista data for 2019, 5.65% of New Zealand’s GDP was attributed to agriculture. According to the government’s official statistics, New Zealand has a thriving agritech industry that makes $1.5 billion in exports.

Opo Bio and BioLumic are two startups. The former produces and distributes ultraviolet equipment as well as treatment options to increase crops’ hardiness, productivity, and resistance to pests and diseases. The latter creates meat products made from cell cultures to lessen the environmental impact of raising cattle.

When it comes to the nations with the most advanced agricultural technology, Israel is a significant nation. Simcha Blass, the creator of Drip Irrigation, a highly effective irrigation technique that uses 20–50% less water than conventional irrigation techniques, resides there.

Furthermore, the development of the N-Drip micro-irrigation technology, which further lowers prices for pricey pumps and water filters and reduces water usage by 50%, is due to Professor Uri Shani, a well-known Israeli water specialist.

In Europe, France is the country that produces the most agricultural goods. In 2021, agricultural production contributed 1.6% of the nation’s GDP. As of 2022, there are 292 agritech startups in the nation.

Agronutris, Limagrain, and Ynsect are a few of these. Through the development of insect cultures, Ynsect transforms cereals into nutritious sources for animal feed.

In contrast, Limagrain produces and distributes seeds that are based on both genetically modified organisms (GMOs) and non-GMOs, whereas Agronutris creates organic fertilisers that are insect-based.
Despite having a slightly greater number of agritech firms than France, which has the world’s second-highest agricultural output, Germany. 297 agritech startups will be active in Germany by 2022.

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