Pre-harvest market to increase at a CAGR of 5.7%

Press Release   •   Jul 22, 2013 09:19 BST

The global pre-harvest market has been forecast to increase at a compound annual growth rate (CAGR) of 5.7% over the next five years, increasing from a value of approximately $40.1 billion by the end of 2012, to reach a market value of $55.7 billion by 2018

The practice of agriculture around the world showed a significant change owing to the developments made in farm equipment industry. Mechanisation in agriculture increasingly proved important and played a key role in agricultural production globally.

The inclusion of mechanisation not only influenced and reduced the workload, but changed the characteristics of labour in agricultural practices.

Pre-harvest refers to activities on the farm or ranch that occur before crop or livestock products are sold. Pre-harvest food safety activities, for example, is a phrase often used to describe USDA's efforts, through research and cooperative work, to foster changes in on farm production that can reduce public health risks in live animals before they are sent to slaughter.

To capitalise on the growth trend in the global pre-harvest market, several leading agricultural equipment companies are making efforts towards research and development and manufacturing of farm equipments and implements.

Furthermore, agriculture equipment companies are gradually expanding their product offerings within this product line to meet the growing demand of them.

The global pre-harvest market has grown exponentially in the last few years and a similar trend is expected to continue for the next 7 to 8 years.

Leading companies are focusing on launching of new products for expansion of the business in local as well as foreign markets. Investment and expansion is the second most preferred growth strategy after new products launch.

For more information on the pre-harvest market, see the latest research: Pre-Harvest Market

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