Top 5 Global Agribusiness Companies for 2023!

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 2023. 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 ecommerce developing service 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.

1.Cargill:

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.

Cargill Items

• Crops
• Livestock
• Food
• Health
• Raw materials
• Industrial risk management
• Financial risk management

2. The company that makes Archer-Daniels-Midland (ADM)

The Archer-Daniels-Midland, another American global agriculture juggernaut, is ranked second. Archer-Daniels-Midland, based in Chicago, Illinois, is the market leader in food processing and commodities trading.

In order to make food, beverage, industrial, animal feed, and nutraceutical goods, ADM processes oilseeds and cereal grains in 270 operating factories and over 400 procurement sites across the world. Due to its 64.34 billion USD in revenue last year, the firm is now the second-largest agriculture corporation globally.

ADM Products

• Corn syrup
• High fructose corn syrup
• Ethanol
• Food
• Bioenergy

3. Bayer

The third largest agriculture company in the world is the German multinational Bayer, which is also involved in the pharmaceutical and life sciences industries. It is among the biggest pharmaceutical firms in the world as well as one of the biggest agriculture companies. With more than 175 breeding locations throughout the world, the firm also excels in crop science research.

The company’s 2018 purchase of Monsanto for USD 63 billion solidified its position as the world’s leading player in agricultural sciences and agriculture. The corporation was among the top 3 largest agriculture companies in the world in terms of revenue last year, reaching USD 51.18 billion.

4. Johnson Deere

John Deere, an American company that ranks fourth, is well-established in the fields of agriculture, forestry machinery, construction, drivetrains, diesel engines, and lawn care equipment. Combine harvesters, tractors, cotton harvesters, silage machines, balers, sprayers, and planters/seeders are some of the company’s agricultural products. John Deere ranked fourth among the top agriculture companies in the world last year with a turnaround of USD 37.35 billion.

CNH Industrial Products

• Agriculture equipment
• Buses, special vehicles
• Construction equipment
• Trucks & commercial vehicles
• Industrial and marine powertrains

5. Takeaway!

The most vital sector for human survival has continued to be agriculture. For thousands of years, people have been able to improve agricultural methods to satisfy the demand for food security. The integration of modern technology remains the key to ensuring food security as we navigate the largest population boom in human history.

Additionally, all of the businesses in our list of the top 5 largest agribusiness enterprises worldwide have that trait. All of these businesses are utilizing technology to maintain procedures more effective and cost-effective for customers while also increasing yield and meeting the enormous demand for food.