Agriculture advertising is a booming industry in Canada.
The National Agri-Food and Drug Administration recently published its latest annual report and found the industry was valued at $1.2 billion, with more than 1.3 million sites in Canada offering ag-related advertising.
It also noted the industry is expanding rapidly, adding that the number of companies offering agricultural advertising is expected to grow from 10,000 in 2015 to more than 100,000 by 2022.
The agency noted there were over 9,000 new sites offering agricultural adverts each day, up from around 6,000 sites in 2015.
“In fact, the number and variety of sites offering agadvertising has grown by nearly 10-fold since the end of 2015,” the report states.
“And this growth has come from the online sector as well.”
The number of sites selling agricultural advertising increased from 6,500 in 2015 and is expected increase to over 20,000 this year.
“Agadvertising is an increasingly important channel for ag marketers to reach their potential consumers and advertisers,” says Paul D. Hirsch, president and CEO of the Agribusiness Council of Canada.
“The growth of agadvertising sites has allowed for greater transparency in the industry, which can help marketers understand and understand their potential audiences better.”
Advertising on agriculture has long been a key part of agriculture’s advertising strategy.
In fact, it is the industry’s second-largest revenue generator after advertising on healthcare.
The Agri/Food Marketing Association of Canada estimates agadvertising accounted for over $2.2-billion in annual sales in Canada last year.
According to the Canadian Agri food advertising market, advertising on agriculture generated $2,907 million in total revenues in 2017, up by 9 per cent from the previous year.
The report also notes the ag-advertising industry is growing quickly and is forecast to reach $1 billion in revenues by 2022, up 6 per cent compared to 2017.
The Canadian Agribustry Association says there are more than 700 ag-based advertising websites operating in Canada today.
Ag-advertising is now also being used to promote foods and products in more than 80 countries, including many of the top economies in the world.
“It is an exciting time to be a marketer in the ag and food industry and to be able to reach more consumers,” says Bill Cawthon, CEO of Agri Group, a Canadian ag-marketing agency.
“We believe the growth of the ag industry is the key to the long-term success of Canada’s ag industry.”
Hirsch says he believes agriculture advertising will continue to grow, and that it will be a “gold mine” for ag marketing.
“I think the ag advertising market is one of the most exciting opportunities for ag-promotion right now,” he says.
“But it will require a lot of support to stay competitive.”