Agriculture - Italy

Italy

Gross production value in Agriculture market is projected to amount to €24.55bn in 2024. An annual growth rate of 2.06% is expected (CAGR 2024-2028), resulting in gross production value of €26.64bn in 2028.
The import value in Agriculture market is projected to amount to €24.6bn in 2024. An annual growth rate of 5.67% is expected (CAGR 2024–2028).
The export value in Agriculture market is projected to amount to €12.3bn in 2024. An annual growth rate of 4.76% is expected (CAGR 2024–2028).

Key regions: United States, Brazil, Germany, Italy, Spain

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Analyst Opinion

Italy, a country known for its rich history, culture, and cuisine, has a thriving agriculture market.

Customer preferences: Italian consumers have a strong preference for locally grown and organic produce. They value quality over quantity and are willing to pay a premium for products that meet their high standards. This has led to an increase in demand for niche products such as heirloom vegetables, artisanal cheeses, and organic wines.

Trends in the market: The agriculture market in Italy has been trending towards sustainable and environmentally friendly practices. Farmers are adopting new technologies and techniques to reduce their carbon footprint and improve soil health. This includes the use of precision farming, crop rotation, and cover cropping. Additionally, there has been a growing interest in alternative farming methods such as hydroponics and vertical farming.

Local special circumstances: Italy's agriculture market is heavily influenced by its geography and climate. The country's varied terrain, which includes mountains, hills, and coastal regions, allows for a diverse range of crops to be grown. However, the Mediterranean climate can also pose challenges such as drought and wildfires. Furthermore, the country's history of small-scale farming has resulted in a fragmented industry with many small family-owned farms.

Underlying macroeconomic factors: Italy's agriculture market is closely tied to the country's overall economic performance. The industry contributes to the country's GDP and provides employment opportunities in rural areas. However, factors such as climate change, trade policies, and changing consumer preferences can have a significant impact on the market. Additionally, the COVID-19 pandemic has highlighted the importance of food security and self-sufficiency, leading to a renewed focus on domestic agriculture production.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.