The global agricultural industry is worth USD 2.4 trillion, making it one of the largest and definitely the most important industries in the world. The industry isn’t just massive with respect to the annual turnover, but also significant as it employs the largest global population; amounting to close to 1 billion people globally. Worldwide, Cargill remains the biggest and topmost agricultural company with over USD 114 billion turnovers in 2020. ADM and Bayer together with Cargill make up the top 3 agriculture companies in the world.
With the ever-increasing human population, there is a massive demand for food supply, which is also the biggest driver for the agriculture software businesses. According to estimates, the global population is expected to reach over 9 billion in the next 3 decades, which will put a massive strain on food security. According to the UN, there is a dire need for agriculture companies to adapt to the growing global food demand, to ensure food security. According to some estimates, the largest agriculture businesses will have to increase their food production by nearly 70% as compared to 2007, to meet the increasing food demand by 2050.
Global Agriculture Industry Stats & Trends
- Agriculture contributed around 4% of the global GDP in 2019, whereas, for some developing countries, the agriculture industry accounted for as much as 35% of their GDP.
- In the USA, nearly 22 million people were employed in the agricultural industry (either full-time or part-time). This means that agriculture alone accounts for around 11% of the total country’s employment
- Food spending amounted to 12.9% on average for American household; just behind housing (32.8%) and transportation (15.9%)
- Globally, over one billion people are employed directly or indirectly with the agricultural industry, bringing in about USD 2.4 trillion in the global economy.
Top 5 Largest Agricultural Companies in the World 2023
Well, now that we have in front of us some interesting stats and trends of the industry, let’s now take a look at some of the biggest agriculture companies in the world in 2023 by revenues in USD billions.
Ranking at the top of the list for the biggest agriculture companies in the world, Cargill is a USA-based private global food corporation. The family-owned business is based in Minnetonka, Minnesota, with the descendants of the founder owning over 90% of the business. Cargill is also one of the biggest employers in the USA with over 166,000 employees working for the company in over 66 countries worldwide. The company is responsible for about 25% of the grain exports from the USA. Last year’s revenue for the company was USD 114.69 billion, making it the top agriculture company in the world.
- Raw materials
- Industrial risk management
- Financial risk management
The Archer-Daniels-Midland Company (ADM)
Coming in at number 2, the Archer-Daniels-Midland is another multinational agribusiness giant from the USA. Based in Chicago, Illinois, Archer-Daniels-Midland is the absolute leader in food processing and commodities trading. Globally, ADM maintains a massive inventory of operating 270 plants, and over 400 procurement facilities, where food, beverage, industrial, animal feed, and nutraceutical products are manufactured by processing oilseeds, and cereal grains. The company’s revenues hit USD 64.34 billion last year, making it the second-largest agriculture company in the world.
- Corn syrup
- High fructose corn syrup
The German multinational pharmaceutical and life sciences Company – Bayer is number 3 on the list of the biggest agriculture companies in the world. Apart from being one of the largest agriculture companies in the world, it is also among the largest global pharmaceutical companies. The company also ranks at the top for its research in crop science, holding over 175 breeding sites globally. The company acquired Monsanto for USD 63 billion back in 2018, further cementing its position as the largest global player in crop sciences and agriculture. The company’s revenues reached USD 51.18 billion last year, making it to the top 3 biggest agriculture companies in the world.
- Veterinary drugs
- Diagnostic imaging
- Women’s health products
- General and specialty medicines
- Plant biotechnology
- Over-the-counter drugs
- Diagnostic imaging
Coming at number 4, John Deere is another American corporation with strong footings in agriculture, forestry machinery, construction, drivetrains equipment, diesel engines, and lawn care equipment. The company’s agricultural products include; combine harvesters, tractors, cotton harvesters, silage machines, balers, sprayers, and planters/seeders. John Deere’s last year turnaround reached USD 37.35 billion, making it 4th on the list of the top agriculture companies globally.
John Deere Products
- Consumer & commercial equipment
- Diesel engines
Coming in at number 5, CNH Industrial round up our top five biggest agriculture companies in the world. An American-Italian multinational corporation, CNH Industrial maintains its corporate offices in Basildon and Amsterdam. The company is one of the largest producers and sellers of agricultural and construction equipment including; trucks, special vehicles (Iveco), busses, and powertrains (industrial and marine application). The company generated over USD 28.1 billion in revenues last year, making it the fifth-biggest agricultural company in the world.
CNH Industrial Products
- Agriculture equipment
- Buses, special vehicles
- Construction equipment
- Trucks & commercial vehicles
- Industrial and marine powertrains
The agriculture industry has remained the most crucial industry for human survival. For thousands of years, humans have managed to revamped agricultural practices to meet the food security demand. Today, as we stand at the helm of the largest population burst in human history, the key to food security remains in integrating modern technology. That’s also what’s common among all of the companies listed in our list of top 5 biggest agriculture companies in the world. All of these companies are leveraging technology to not only maximize yield and meet massive food demand but also to keep processes more efficient and affordable for end-users.