New York, April 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Farm Product Warehousing And Storage Global Market Report 2023" - https://www.reportlinker.com/p06320394/?utm_source=GNW
Major players in the farm product warehousing and storage market include Archer Daniels Midland Company, Cargill, and CBH Group.
The global farm product warehousing and storage market will grow from $83.45 billion in 2022 to $89.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The farm product warehousing and storage market is expected to grow from $114.92 billion in 2027 at a CAGR of 6.4%.
The Farm product warehousing and storage market includes revenues earned by entities by helping in price stabilization of agricultural commodities.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Farm product warehousing and storage refers to a place for storing agricultural products that help to provide farm product warehousing and storage facilities and services. It is used to store various types of crops by the farmers that are get affected by rain.
North America was the largest region in the farm product warehousing and storage market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The major types of farm product and storage are storage services, handling services, packing services, and others.Storage services refer to the practise of keeping and storing goods in a warehouse.
Farm product warehousing and storage is used in applications such as farms and enterprises and owned by private, public, and bonded.
The growth in the farm product warehousing and storage market can be attributed to the increasing retail penetration.Increasing retail penetration is expected to propel the growth of the farm product warehousing and storage market going forward.
Retail penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service.Because of the increase in customer demands for product or service, most filers purchase the products and store them in warehouses and sell them according to the demand.
For instance, according to the Indian Brand Equity Foundation, an India-based export promotion agency for the year 2021, the retail industry achieved 96% of pre-COVID-19 sales in the year 2021. The Indian retail sector is valued at $2.77 billion for the year 2020. Therefore raise in increasing retail penetration is growing demand for farm product warehousing and storage market.
Warehouse operators are now constructing multi-story warehouses in densely populated cities and expensive land spaces.A multi-story warehouse is a warehouse consisting of more than one floor designed to increase the usable floor space per square foot of land.
It results in a better land utilization rate and enhances operational efficiency.Multi-story warehouses have been successful in densely populated cities predominantly in Asian countries such as China, Japan, Hong Kong, and Singapore, due to high land and construction costs, small site areas, and limited industrial land availability.
Multi-story warehouses in Hong Kong average 12 floors. Prologis, the world’s biggest warehouse owner, has also started construction to build the first multi-story warehouse in the USA.
The countries covered in the farm product warehousing and storage market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The farm product warehousing and storage market research report is one of a series of new reports that provides farm product warehousing and storage market statistics, including farm product warehousing and storage industry global market size, regional shares, competitors with a farm product warehousing and storage market share, detailed farm product warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the farm product warehousing and storage industry. This farm product warehousing and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06320394/?utm_source=GNW
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