The agriculture industry is responsible for fulfilling humans' need for energy, and to some extent, shelter. In addition to food crops and livestock, the industry includes field crops such as cotton or tobacco. Companies involved in support functions such as pest management, animal husbandry, or other management are also included in agriculture. This is a huge industry, which employs approximately 42 percent of the world's laborers, although it composes less than 5 percent of the combined GDPs of the world.
The Agriculture industry is Fragmented. The production in this industry is divided among a few different companies, however, no single firm has large enough share of the market to be able to influence the industry's direction or price levels.
Primary Demand Drivers
- Domestic federal agricultural policy programs
- Domestic food consumption trends
- Accessibility of export markets
- Maximizing crop yield
- Minimizing pest damage and disease risk