Posts by Mohit Pande

Quick Summary: Explore the European Union Deforestation Regulation (EUDR) and decode its goals, timelines, commodities covered, applicability, due diligence requirements, and penalties for non-compliance. Uncover the significance of digital traceability solutions to ensure streamlined adherence.

Agriculture has experienced a significant evolution in the last 50 years. From the Green Revolution driven by consumerism, we’ve entered a new era prioritizing connectivity, data, and intelligence. This digital transformation of agriculture promises process transparency, improved yields, resource optimization, sustainability, and enhanced resilience to climate change.

The ubiquitous nature of technology has enabled various sectors and individuals to reap its benefits, and the agriculture sector is no exception. According to Data Bridge Market Research, the global digital agriculture market which was USD 13.17 billion in 2021 is expected to reach USD 28.45 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.10%.

The global population is growing at an alarming rate, and the agricultural sector must undergo significant changes to cater to the increasing demand for food in line with the population explosion. Smallholder farmers are among the key players that can help to achieve global food security. As per the World Economic Forum, globally 600 million smallholder farmers work on less than two hectares of land and are estimated to contribute 28%-31% to total crop production and 30%-34% to food supply on 24% of gross agricultural area.

Improved agriculture technologies and large-scale farm production spells growth time for the food processing industry. The food processing market is projected to reach USD 235.67 billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.6% from 2021 to 2028. To be a part of this growth, it is essential for agribusiness verticals to upgrade to smart farming and farm digitalization from conventional methods.

Improved agriculture technologies and large-scale farm production spells growth time for the food processing industry. The food processing market is projected to reach USD 235.67 billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.6% from 2021 to 2028. To be a part of this growth, it is essential for agribusiness verticals to upgrade to smart farming and farm digitalization from conventional methods.