Canada Agritech Market

Canada Agritech Market Overview:

The Canada agritech market size reached USD 491.06 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,417.44 Million by 2033, exhibiting a growth rate (CAGR) of 12.50% during 2025-2033. The market is driven by several factors, such as rising demand for sustainable farming practices, advancements in precision agriculture technologies, increasing use of artificial intelligence and IoT in farming, and government support and funding for agricultural innovations.

Canada Agritech Market Trends:

Growing Need for Sustainable Farming Practices

There is an increasing focus on sustainable agriculture in Canada because of the increasing concerns regarding climate change and environmental degradation worldwide. Consequently, farmers and agricultural producers are now embracing technologies that assist in minimizing the environmental footprint of agriculture while enhancing productivity. As per the Government of Canada, the agricultural industry is pivotal in assisting Canada in meeting its national 2030 GHG emission reduction and 2050 net-zero objectives, while remaining competitive and supporting farmers. The agritech solutions are therefore leading the way in fostering sustainable agriculture. Some of the solutions include intelligent irrigation systems, soil sensors, and green pest control technologies. These new technologies enable greater resource efficiency, for example, lowering water and chemical consumption. This reduces the carbon footprint, which is part of overall governmental ambitions to minimize greenhouse gas emissions. Based on reports, Natural Climate Solutions (NCS) like sustainable Canadian agriculture could eliminate up to 78 megatonnes of CO2 each year by 2030, making a significant contribution to the Paris Agreement. Also, agritech solutions that focus on organic and regenerative farming are becoming popular. This is because consumers are increasingly demanding sustainably and eco-friendly food. By incorporating such technologies into their operations, farmers in Canada are enhancing their stewardship of the environment and satisfying market demands for sustainability, thereby fueling the expansion of the agritech industry.

Advancements in Precision Agriculture Technologies

Precision agriculture is the key driver for the growing Canadian agritech market, with innovations ranging from drones for 3D scanning, GPS mapping, satellite imaging, and big data analytics. A significant aspect of these farmers is making possible data-based management decisions concerning crop inputs, ranging from water, fertilizers, and pesticides. For instance, the deployment of GPS-guided machinery in planting, irrigating, and harvesting reduces waste while maximizing yields. Farmers can also evaluate their data through analytics by checking historical data about weather, soil health, and overall crop performance. Based on that, informed decisions are made, improving productivity significantly. These are the practices that increase crop yield while decreasing the outlays. These also contribute toward environmentally friendly farming as they use little resources. The advances in such technologies and increased availability are encouraging the adoption of precision agriculture throughout Canada, in addition to their overall development of the agritech market.

Increasing Government Support for Agricultural Innovation

One of the key drivers of the Canada agritech market is the financial assistance provided to industry players by the government. There are numerous government schemes offering subsidies to farmers and agritech startups to encourage the adoption of advanced agricultural technologies and enhance efficiency and sustainability in the industry. For example, the Canadian Agricultural Partnership is one of the initiatives provided by Agriculture and Agri-Food Canada (AAFC) that offers funding to projects with a focus on innovation, environmental sustainability, as well as market development programs. The programs also form an enabling environment that enhances research institutions, agricultural producers, and technology providers' collaboration. The Government of Canada has also recently awarded up to $31,796 under the Agricultural Clean Technology (ACT) Program's Adoption Stream for François Delorme's farm, which is a family-owned farm in Verner producing soybean, canola, oats, wheat, and corn. 112 projects covering 39 projects related to drying grain have already been supported through Ontario's ACT Program, bringing it to the amount of $44.5 million. Apart from this, the government's emphasis on food security and climate change is also promoting the uptake of agritech solutions. With government funding and support for agritech innovation increasing, it is generating a positive overall picture for the Canada agritech market.

Canada Agritech Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type and application.

Type Insights:

• Biotechnology and Biochemical
• Big Data and Analytics
• Sensors and Connected Devices
• Mobility
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes biotechnology and biochemical, big data and analytics, sensors and connected devices, mobility, and others.

Application Insights:

• Irrigation
• Production and Maintenance
• Supply Chain
• Marketplace

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes irrigation, production and maintenance, supply chain, and marketplace.

Regional Insights:

• Ontario
• Quebec
• Alberta
• British Columbia
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Canada Agritech Market News:

• 16 August 2024: Three firms in the food and agritech sector in Southern Ontario have received $350,000 in federal financing. Among these is the Farm Health Guard Ltd., a provider of digital biosecurity software. The funding will enable the quicker commercialization of the unique biosecurity technology of Farm Health Guard Ltd., which aims to enhance animal health and mitigate the risks of animal diseases.
• 23 April 2024: The Canadian province of British Columbia is investing approximately $25 Million in a new agritech facility. This expansion is a part of its Clean and Competitive: A Blueprint for B.C.’s Industrial Future initiative. The 143,500 sq ft plant in Abbotsford aims to provide support to the local dairy farmers, generating up to 100 new jobs in the area.

Canada Agritech Market Report Coverage:

Key Questions Answered in This Report:

• How has the Canada agritech market performed so far and how will it perform in the coming years?
• What is the breakup of the Canada agritech market on the basis of type?
• What is the breakup of the Canada agritech market on the basis of application?
• What is the breakup of the Canada agritech market on the basis of region?
• What are the various stages in the value chain of the Canada agritech market? 
• What are the key driving factors and challenges in the Canada agritech market?
• What is the structure of the Canada agritech market and who are the key players?
• What is the degree of competition in the Canada agritech market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Canada agritech market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Canada agritech market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Canada agritech industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.