Newark, NJ, June 02, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global agricultural biologicals market is expected to grow from USD 8.5 billion in 2020 and to reach USD 26.99 billion by 2028, growing at a CAGR of 13.7% during the forecast period 2021-2028.
The agricultural biologicals market is witnessing significant growth form the past years. Agricultural Biologicals are commonly called as biologics. Agricultural biologicals are seed treatment systems that are derived from natural materials like plant extracts to improve the crop yield and ensures nutrient growth of the plant. They are the substitutes of harmful chemicals that damage the environment. Agricultural biologicals are not only eco- friendly but also helps the farmers to grow healthier and nutritious food. Agricultural Biologicals are used to replace the chemicals in farming to prevent the crops from diseases, weeds etc. to maintain crop health. Multiple companies are working for the development of highly performing agricultural products such as pesticides and fertilizers.
The global agricultural biologicals market is expected to witness significant growth, owing to rising demand for organic food products, exploitation of environment due to over usage of harmful chemicals, increasing incidences of pest out- break in crops, development of pest resistance for plant protection, increasing area for organic cultivation, strict rules against use of harmful agrochemicals, regulatory assistance and government subsidies for use of agricultural biologicals. Low residue levels, increased health conscious which in turn led to rise in demand for supreme quality yield from farm produce, environmental concerns and shift towards sustainable agriculture in global market are some other factors that propel the market growth. The factors restraining the market growth are lack of awareness among farmers, unavailability of high quality carrier materials, lack of skilled people and short shelf life.
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Key players operating in global agricultural biologicals market include BASF SE(Germany), Vegalab S.A.(US), Isagro S.P.A.(Italy), Evogene Ltd(Israel), Syngenta Crop Protection AG(Switzerland), Marrone Bio Innovations(US), UPL(India), Bayer AG(Germany), Valent Biosciences, Lallemand Inc., Koppert Biological Systems, Valagro S.P.A., Novozymes, CBF China Biofertilizers AG, Biolchim SPA, Symborg, Bienvenido, Andermatt Biocontrol AG, Verdesian Life Sciences., SEIPASA, Biobest Group NV, The DOW Chemical Company, Arysta Lifescience Limited, Certis USA LLC.
Bio control segment dominated the market and held the largest market share of 52.17% in the year 2020
On the basis of type, the global agricultural biologicals market is segmented into bio control, bio stimulants, bio fertilizers, crop protection and crop enhancement. Bio control segment dominated the market and held the largest market share of 52.17% in the year 2020. This growth is attributed to cater the increasing demand for bio control globally, cost effectiveness, increased instances of pest infestations on main food crops like rice, wheat, sugar cane and corn. Increase in demand for organic food which in turn leads to the increase in usage of bio control products results in the growth of market.
Microbials segment dominated the market and held the largest market share of 43.82% in the year 2020
On the basis of product, the global agricultural biologicals market is segmented into Microbials, Macrobials and Bio chemicals. Microbials segment dominated the market and held the largest market share of 43.82% in the year 2020. This growth is attributed to its ability to increase the nutrient availability in the soil and enhance plant yield, higher rate of adoption among farmers, it doesn’t need the user to have specific technical knowledge and high-end distribution logistics as macrobials required and ease of production.
Foliar Spray segment dominated the market and held the largest market share of 61.07% in the year 2020
On the basis of mode of application, the global agricultural biologicals market is segmented into Soil treatment, Seed treatment, Foliar Spray. Foliar Spray segment dominated the market and held the largest market share of 61.07% in the year 2020, owing to its cost effectiveness, ease of use and effectiveness of product. Foliar spray directly affects the leaf which helps in easy absorption of nutrients.
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Regional Segment of Agricultural Biologicals Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global agricultural biologicals market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 38.37% in the year 2020. This growth is ascertained by the U.S. in the North America region owing to strict government rules regarding the use of synthetic chemicals, more number of patents received by companies for biologicals, rising consumers preference for chemical free agricultural products, high- end R&D Infrastructure. Asia- Pacific is held as the fastest growing market due to the increasing demand for agricultural produce which in turn compels the adoption of agricultural biological technologies.
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About the report:
The global agricultural biologicals market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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