The global food and agribusiness industry is currently worth more than $5 trillion following a consistent growth since the year 2017. As populations continue to soar, the resultant demand for food will drive this industry towards higher profitability. Perhaps this pattern informs the conspicuous interest in agricultural business among budding farmers.
The state of food security globally and the quality of cash-crop production is a constant concern for today. This is mainly as the effects of climate change, and population surges become ever more evident.
Modern agricultural ventures remain to be lucrative business options in addressing the gaps in farming in the modern context. However, before investing your hard-earned money into agriculture, some background research would be beneficial. Discover the most profitable agricultural business ideas here.
1. Dried Flower Venture
If you are keen on financial freedom and independence, then the dried flower business is your answer. Growing, processing and selling of most types of dried flowers may be your first step towards self-employment in the year 2020.
Flower production is among the fastest growing sectors in agribusiness. You have the option of selling dried flowers to hobbyists or craft stores regularly. This means that there is a ready market for dried flowers all year round.
If you can consider specializing in unique or hard to grow flowers, then you may be on your way to success in the year 2020. But, you need a large piece of land, capital, and adequate knowledge of flower farming before breaking even.
2. Fish Farming
The changing view around red meat and healthy living may spell good tidings for the white meat business. Fish farming will form part of the most promising agriculture-based ventures in 2020. For most fish farmers, Tilapia is the most profitable fish to farm for commercial purposes.
If you’re looking for agricultural business opportunities for 2020, investing in fish farming may be a probable consideration. But you need proper knowledge of modern fishing methods to succeed in this business. You may also need to have considerable start-up capital.
3. Vegetable and Fruit Farming as Key Agricultural Business in 2020
The vegan community has increased two-fold over the last few years. More people are keen on what they eat today, making healthy options a quick sale in most grocery stores. Focusing on quality, chemical-free vegetable farming can propel your income steadily in the next year.
But you need a sizable piece of land and the right apparatus before embarking on this venture. You also need to consider the cost of fertilizer and seeds as additional expenses. You can shop our equipment for the best autonomous low crop technology for your fruit and vegetable venture.
With a clear execution strategy, this is among the most profitable agricultural business ideas that you can try out in the year 2020.
4. Fertilizer Distribution Venture
Most business ventures succeed due to the ability to identify a gap in the market. Not everyone can be a farmer for it takes passion and commitment. But this does not mean that you can’t take advantage of the gap in providing products that are essential to the farming process.
Fertilizer is among the most critical extras in the farming process. Farmers use between 40 to 50 pounds of fertilizer per acre each planting season. These figures indicate the constant need for fertilizer.
You may need to source for capital and the requisite legal permissions to undertake this venture. But it presents some of the most promising prospects in the next five years.
5. Poultry Farming
As is with fish farming, most consumers are now turning to chicken as an alternative to red meat. The consumption of eggs as a cheaper source of proteins has also gained significant traction. Consequently, the poultry farming venture has transformed into a techno-commercial industry over time.
If you are looking for a farm business idea with the fastest growth in 2020, then you better get used to the clucking of hens and the early morning crow of the rooster. Egg consumption in the USA will hit a 50 year high this year.
The average American is expected to increase their egg consumption in the next five years. This makes poultry farming a significant business venture in 2020.
6. Beekeeping Business
There has been an increase in the number of assumed benefits of honey. The changing views around healthy lifestyles and wellness are responsible for the growing demand for honey. Medical practitioners have certified some of these health and wellness benefits as evidence-based.
If you are looking for a lucrative venture in 2020, then beekeeping can be both profitable and fun. The main advantage of beekeeping is the reasonably affordable cost of start-up. You will have a considerably ready market for your bee products both locally and internationally, as long as you do your homework well.
7. Snail Farming
You may be thinking this is yuck. Well, snail farming for most people may seem like a farfetched experience. But this is one of the most prospective businesses you can settle for in the year 2020. Snails are rich in proteins, iron, and Vitamin B12.
Most Americans are now embracing a tasty snacking of well-prepared snails on their plates. If you consider rearing snails, it will only be a matter of time before you break even. A vital advantage in this venture relates to the low start-up costs.
8. Mushroom Farming
The global mushroom industry was valued at $38.13 billion in the year 2017. These figures are a reflection of the growing demand for mushrooms in hotels and restaurants. With such a vast market, mushroom farming presents a money-spinning agricultural business opportunity.
The market for organic mushrooms will expand steadily in the next five years. This makes investments in mushrooms promising. A significant advantage in mushroom farming is the small range of investment required.
9. Dairy Farming
Most people consider dairy farming as capital and labor-intensive. However, with small capital investment, you can start small and grow over time as a dairy farmer. Ranchers and dairy farmers in the United States have been smiling all the way to the banks over the last decade.
But you need to factor in land, buildings and the initial purchase cost of animals. With proper knowledge of the modern rearing approaches, this venture can earn you good money. If you have a small farm and you want to maximize value, miniature cattle breeds can help a great deal. The only disclaimer is the fact that dairy rearing requires a hands-on approach for you to maximize profits.
If You Are Ready to Venture Out in 2020, Then Agribusiness Is Worth the Sweat
With these agricultural business prospects, there is never a better time to hit the farm. You only need to have the right equipment made from modern technology for you to make the first steps to financial freedom in 2020. If you combine proper equipment with small capital investment and a formidable will, you will be on a path to self-employment.
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