UK Agritech Market

UK Agritech Market Overview:

The UK agritech market size reached USD 563.44 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 1488.71 Million by 2032, exhibiting a growth rate (CAGR) of 10.20% during 2024-2032. The market is driven by advancements in precision farming, increasing demand for sustainable agricultural practices, and rising awareness about climate change and the need for efficient resource management.

UK Agritech Market Trends:

Growth of Precision Agriculture and AI Integration

Precision farming is increasingly finding its way into the UK agritech market. The boom is being created by the onset of AI and advanced data analytics. With these technologies, all farmers can use precision tools and techniques in regard to crop health, use of resources optimization, and increase yields much more accurately. This can, in the AI-based tools, arrange for real-time adjustments in planting, irrigating, and fertilizing through data collected from sensors, drones, and satellite imagery. UK government investing initiatives like the UK Agri-Tech Centre, which is focused on calling in the best of AI and robotics with the purpose of more efficiency and sustainability in farming.

Expansion of Vertical and Indoor Farming

Another significant trend is the expansion of vertical and indoor farming, especially in urban areas where land availability is limited. These technologies are becoming crucial for addressing food security challenges and reducing the environmental impact of agriculture. Vertical farming, which utilizes stacked layers to grow crops, offers the advantage of year-round cultivation and minimizes water usage compared to traditional farming methods. The UK has become a leader in this space, with companies advancing innovations in hydroponics and aquaponics. For instance, as per BBC News, in February 2024, one of the UK's most advanced indoor farms has opened in Gloucestershire. The vertical farm can grow salad 3 times as fast as traditional outdoor agriculture. Additionally, it uses cutting-edge LED lighting systems to optimize plant growth and maximize energy efficiency, further enhancing its environmental sustainability.

Increasing Focus on Sustainable Livestock Management

Sustainable livestock management has become a key focus area in the UK agritech market, with growing demand for technologies that enhance animal welfare while improving production efficiency. Innovations in animal monitoring, including sensors and tracking devices, are helping farmers optimize feed usage, monitor health, and reduce the environmental footprint of livestock farming. The UK Agri-Tech Centre’s focus on sustainable practices and its collaboration with institutions like the Centre for Innovation Excellence in Livestock (CIEL) demonstrates a commitment to enhancing animal agritech. Additionally, advancements in precision livestock farming (PLF) tools, such as automated health diagnostics and climate-controlled environments, are enabling more efficient resource management and contributing to the overall sustainability of the agricultural sector.

UK Agritech Market News:

• In April 2024, the UK Agri-Tech Center was launched. Following the merger of Agri-EPI, CIEL, and CHAP to form the UK's largest specialized agri-tech body, agri-innovation is accelerating at unprecedented levels. The UK Agri-Tech Centre is an independent organization with core funding from Innovate UK that will keep its skilled team and world-class facilities. The center’s purpose is to allow innovative and resilient agri systems that adapt to ever-changing issues affecting agriculture and its partner sectors, thereby benefiting the planet and generating economic prosperity in the United Kingdom.

UK 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 2024-2032. Our report has categorized the market based on type, application, and sector.

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
• Others
   

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, marketplace, and others.

Sector Insights:

• Agriculture
• Smart Agriculture
• Precision Farming
• Agrochemicals
• Biotechnology
• Indoor Farming
• Others
   

The report has provided a detailed breakup and analysis of the market based on the sector. This includes agriculture, smart agriculture, precision farming, agrochemicals, biotechnology, indoor farming, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, 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.

UK Agritech Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK agritech market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK agritech market?
• What is the breakup of the UK agritech market on the basis of type?
• What is the breakup of the UK agritech market on the basis of application?
• What is the breakup of the UK agritech market on the basis of sector?
• What are the various stages in the value chain of the UK agritech market? 
• What are the key driving factors and challenges in the UK agritech?
• What is the structure of the UK agritech market and who are the key players?
• What is the degree of competition in the UK 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 UK agritech market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK 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 UK 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.