30 Most Profitable Agricultural Business Ideas for Young Entrepreneurs

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In this article, we will take a look at the 30 most profitable agricultural business ideas for young entrepreneurs. If you want to skip our detailed analysis, you can go directly to 5 Most Profitable Agricultural Business Ideas for Young Entrepreneurs.

Technology has altered the agriculture industry on a global scale. More businesses are investing in agri-smart technologies. According to a report by Grandview Research, the global smart agriculture market was valued at $20.30 billion in 2022. The global smart agriculture market is expected to grow to $54.71 billion by 2030 at a compound annual growth rate (CAGR) of 13.4%. Key factors pushing the growth of smart agriculture include the rising demand for commercial greenhouses and the increasing use of the controlled environment agriculture (CEA) concept. Additionally, the advancement of key technologies, including livestock biometrics, RFID, and GPS, have immensely helped cultivators enhance their agricultural processes.

What's New in the Agri-Tech Industry?

The integration of technology in agriculture is not only fueled by global demand, but increased government investment also propels growth in the sector. On August 23, The US Department of Agriculture announced an investment of over $12.5 million dedicated to funding small businesses in Agriculture. The fund will support 76 small businesses engaged in the research of challenges and opportunities in agriculture. Additionally, the National Institute of Food and Agriculture, or NIFA, is set to invest $9.9 million in 61 small business innovation research projects in the domains of natural resources, plant and animal production, and the development of bio-based products. The Chief Scientist and Under Secretary for Research, Education, and Economics Dr. Chavonda Jacobs-Young, stated:

"The Biden-Harris Administration is committed to investing, growing and supporting small businesses through increased market opportunities that also strengthen the food system nationally and locally. Science-based innovations from federally funded research, often developed through public-private partnerships, create products and services that increase productivity and enhance global competitiveness for the U.S. agriculture sector."

Companies Making Moves in Smart Agriculture

Corteva, Inc. (NYSE:CTVA), The Mosaic Company (NYSE:MOS), and Bioceres Crop Solutions Corp. (NASDAQ:BIOX) are some of the leading agricultural companies investing in developing technologies to enhance agricultural processes. You can also check out some of the biggest agricultural companies in the United States