Iran Agricultural Sector Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Iran Agricultural Sector Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Iran agriculture sector projected to register a CAGR of 3.80%, during the forecast period (2020-2025).

Key Highlights

• The lift of international nuclear-related sanction against Iran in 2016 has opened a vast business opportunity for many companies across various sectors in the country including the agriculture sector. Most of the agricultural activities in Iran are carried out by farmers and agricultural companies.
• Government is supporting the development of the agriculture sector to meet the local demand and agricultural exports as well. The government of Iran is planning to increase the area under greenhouse cultivation to 48,000 hectares by 2027. This will boost the production of fruits and vegetables which would result in an incline in the overall agricultural export.

Key Market TrendsIncreasing Area under Pistachio and Wheat

Wheat and Pistachio are one of the major crops grown in the country. Wheat is majorly grown for domestic consumption, whereas pistachios are grown for the export market. Pistachio is one of the major exports by Iran following crude oil export. According to FAO, the area under the cultivation of pistachio increased to 825.3 thousand hectares in 2018 from 429.5 thousand hectares in 2017. Similarly, the area under wheat cultivation in the country has also witnessed growth during the same period, indicating the growth in the agricultural sector of the country.

Growing Seafood Indsutry

Caspian sea, southern seas, freshwater, and aquaculture are the major sources of seafood production. According to Iran Fisheries Organization, Iran seafood, Iran exported 68,000 tons of seafood worth USD 228.0 million in eight months i.e., 21st November in 2018, which is 26% and 41% more in weight and value respectively compared to the corresponding period in the previous year. Iran Fisheries Organisation has released 350 million juvenile fish in order to preserve the fish reserve of the country. The Iranian government is planning to increase the production of seafood to 800,000 tons of fish in farms by 2022, out of which cage farming will hold 25% of the total production, whereas rest of the production would comprise warm and cold-water fish, shrimps and sturgeons.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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