The sector is huge not only in terms of annual turnover, but also because it employs close to 1 billion people globally. Cargill remains the world's largest agricultural company, with turnover exceeding US$114 billion in 2020. ADM (Archer-Daniels-Midland) and Bayer, together with Cargill, make up the world's 3 largest agricultural companies.
With the ever-increasing human population, there is a huge demand for food supply, which is also the biggest driver for agro software businesses. It is inevitable that the world population, which is expected to exceed 9 billion in the next 30 years, will put a great burden on food security. According to the UN, to ensure food security, agricultural companies need to adapt to the increasing global demand for food. According to some estimates, to meet the growing demand for food by 2050, the largest agribusinesses will need to increase their food production by around 70% compared to 2007.
Global Agriculture Sector Statistics and Trends
Agriculture accounted for around 4% of global GDP in 2019, while in some developing countries this figure was 35%. In the USA, where approximately 22 million people are employed full or part time, agriculture constitutes approximately 11% of the total employment in the country. American households' average food expenditure was 12.9%, transportation expenditure was 15.9%, and housing expenditure was 32.8%.
Globally, more than one billion people are directly or indirectly employed in the agricultural industry, adding approximately $2.4 trillion to the global economy.
Let's take a look at some of the world's largest agricultural companies with billions of dollars in revenue in 2022.
Cargill
Cargill, a US-based privately owned global food company, tops the list of the world's largest agricultural companies. The descendants of the founders of this family business located in Minnetonka, Minnesota, USA, own more than 90% of the business. The company is one of the largest employers in the United States, with more than 166,000 employees present in more than 66 countries worldwide. The company owns approximately 25% of grain exports from the USA. Cargill, with revenue of $114.69 billion last year, is the world's largest agricultural company.
Cargill Products
- Crops
- Farming
- Food
- Health
- Raw materials
- Industrial risk management
- Financial risk management
Archer-Daniels-Midland Company (ADM)
Archer-Daniels-Midland is one of the US multinational agriculture giants. Headquartered in Chicago, Illinois, USA, the company is a leader in food processing and commodity trading. Globally, ADM maintains a large inventory of 270 facilities and over 400 supply facilities producing oilseeds, food, beverage, industrial, animal feed, grain processing and nutraceutical products. With revenue of $64.34 billion last year, the company is the second largest agricultural company in the world.
Related Products
ADM's Products
- Corn syrup
- High fructose corn syrup
- Ethanol
- Food
- Bioenergy
Bayer
Bayer, Germany's multinational pharmaceutical company, is the third largest agricultural company in the world. In addition to being one of the largest agricultural companies in the world, the company is also among the largest pharmaceutical companies in the world. With over 175 breeding sites worldwide, the company also ranks at the top in product research. By purchasing Monsanto for $63 billion in 2018, the company further strengthened its position as the largest global player in agriculture. The company, which earned $51.18 billion in revenue last year, became one of the 3 largest agricultural companies in the world.
Bayer
- Veterinary drugs
- Diagnostic imaging
- Women's health products
- General and specific drugs
- Seeds
- Agrochemical
- Plant biotechnology
- Over-the-counter medicines
John Deere
Number four, John Deere, is another American company with a solid foundation in agricultural, forestry machinery, construction, powertrain equipment, diesel engines and lawn care equipment products. Among the company's agricultural products; combine harvesters, tractors, cotton harvesters, silage machines, balers, sprayers and seeders. Reaching $37.35 billion in revenue last year, the company is the fourth largest agricultural company in the world.
John Deere Products
- Agriculture
- Forestry
- Consumer and commercial equipment
- Build
- Diesel engines
- Automobiles
CNH Industrial
CNH Industrial, an American and Italian multinational company, operates from Basildon in England and Amsterdam in the Netherlands. The company is one of the largest manufacturers and sellers of agricultural and construction equipment, including trucks, special vehicles (Iveco), buses and powertrains (industrial and marine applications).
With revenue of over US$28.1 billion last year, CNH is the world's fifth largest agricultural company.
CNH Industrial 's Products
- Agricultural equipment
- Buses, special vehicles
- Construction equipment
- Trucks and commercial vehicles
- Industrial and marine power transmission equipment