Global Agricultural E-commerce Market: Introduction
The need for e-commerce has increased extensively, with the increasing penetration of e-commerce and digitization mode of businesses. Agricultural e-commerce offers an important opportunity for cost reduction and demand enhancement of products. In recent years, more and more smallholders in developing countries such as China have begun to sell agri products directly to consumers via online shops from a third party trade platform.
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Global Agricultural E-commerce Market – Dynamics
Cost Competition
Competition among players operating in the agricultural sector has increased strongly in the past few years. Offline sales have increased the pressure of cost, supply chain, and intermediaries within the whole ecosystem. E-commerce is an efficient tool for micro and medium size businesses. This has helped sellers to reduce the transportation cost and also enabled access to untapped markets.
Increasing Adoption by Smallholders
It is increasingly clear that e-commerce has become a new and effective way of helping smallholders gain access to the market. E-commerce has empowered smallholders to sell most of their products at a higher price than before because of the elimination of the price squeeze from intermediaries and the marketing constraints of information asymmetry. The adoption by small holders is driving the growth of the agricultural e-commerce market.
COVID-19 Impact on the Global Agricultural E-commerce Market
The COVID-19 pandemic is expected to moderately impact the global agricultural e-commerce market for a short-term period. The gap within the supply chain and transportation has been affected adversely due to the lockdown in almost every region. Sudden stoppage of transportation service have led to huge losses to e-commerce platforms. It is expected that COVID-9 will impact this market till the 2024 year end.
Global Agricultural E-commerce Market – Competition Landscape
- In July 2018, Indian Farmers Fertiliser Cooperative (IFFCO) partnered with Singapore-based technology firm iMandi to start an e-commerce platform for farmers with an investment of about US$ 10.5 Mn.
AgriBegri Trade Link Pvt Ltd
Established in 2016, MIE Soluti AgriBegri Trade Link Pvt. Ltd provides seeds, fertilizers, pesticides, plant growth regulators, and irrigation and farming tools and equipment that are required in agriculture through an e-commerce platform.
Global Agricultural E-commerce Market: Segmentation
The global agricultural e-commerce market can be segmented based on:
- Deployment
- Platform Type
- Region
Global Agricultural E-commerce Market, by Deployment
Based on deployment, the global agricultural e-commerce market can be divided into:
- Cloud
- On-premise
Global Agricultural E-commerce Market, by Platform Type
In terms of platform type, the global agricultural e-commerce market can be segregated into:
- Mobile-based
- Desktop-based
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