Pune, India, June 05, 2023 (GLOBE NEWSWIRE) -- The global agricultural biologicals market size was valued at USD 10.25 billion in 2021 and is projected to grow from USD 11.66 billion in 2022 to USD 29.31 billion by 2029, exhibiting a CAGR of 14.07% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Agricultural Biologicals Market, 2022-2029.”
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List of Key Players Mentioned in the Agricultural Biologicals Market Report:
- Bayer AG (Germany)
- BASF SE (Germany)
- Syngenta AG (Switzerland)
- UPL Limited (India)
- Marrone Bio Innovations (U.S.)
- SEIPASA S.A. (Spain)
- Koppert Biological Systems (Netherlands)
- PI Industries (India)
- Novozymes A/S (Denmark)
- Gowan Group (U.S.)
Agricultural biologicals refer to products derived from natural sources, such as microorganisms, plant extracts, and minerals, that are used to enhance plant growth, protect crops from pests and diseases, and improve soil health.
There are several types of agricultural biologicals, including biopesticides, biofertilizers, and biostimulants. Biopesticides are used to control pests and diseases in crops and are made from naturally occurring substances, such as bacteria, fungi, and plant extracts. Biofertilizers are used to improve soil fertility and plant nutrition and are made from beneficial microorganisms, such as nitrogen-fixing bacteria and mycorrhizal fungi. Biostimulants are used to enhance plant growth and health by improving nutrient uptake, root growth, and stress tolerance. They are made from a variety of natural substances, such as plant extracts, seaweed, and humic acid.
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 14.07% |
| 2029 Value Projection | USD 29.31 Billion |
| Market Size in 2022 | USD 11.66 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 175 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Agricultural Biologicals Market Growth Drivers | Magnitude of Risk Associated with Synthetic Chemicals in Agriculture to Boost Market Growth |
| Transformation in Agricultural Inputs Industry to Augment Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/agricultural-biologicals-market-100411
Agricultural biologicals are becoming increasingly popular among farmers and growers as they offer several benefits over traditional chemical inputs. They are generally considered safer for humans and the environment, have a lower risk of developing resistance, and can improve soil health and biodiversity.
Segments:
Biopesticides to Account for Largest Share owing to Expansive Usage as Substitute Crop Inputs
By type, the market is divided into biopesticides, biostimulants, and biofertilizers.
Biopesticides held the largest global agricultural biologicals market share, owing to rising emphasis of farmers and agriculturists toward the progression of pest resistance products for crops to surge the efficiency of quality crops.
Microbial Variant to Appear as Leading Segment Due to its Rising Acceptance Among Farmers
By source, the market is bifurcated microbial and biochemical, with the microbial segment accounting for the major share.
Foliar Spray to be Major Segment Owing to the Application Convenience Provided by the Method
On the basis of application method, the global market is classified into foliar spray, soil treatment, seed treatment, and others.
Agricultural Biologicals Usage in Surging Row Crops Production to Lead Market
Based on crop, the market is segmented into row crops, fruits & vegetables, and others. The row crops segment emerged as the dominating segment owing to change in customer inclination toward less filtered and natural foods.
The market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa in terms of geography.
Report Coverage:
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
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Drivers and Restraints:
Level of Risk Related with Synthetic Chemicals in Agriculture to Spur Market Growth
The market for biologicals utilized in agriculture is driven by the surging consciousness of the detrimental effect on the environment triggered by synthetic plant protection constituents. The maladministration in the usage of inorganic agricultural biologicals inputs, particularly synthetic fertilizers has resulted in the increment in the quantity of GHGs produced such as carbon dioxide (CO2), nitrous oxide (N2O), and methane (CH4). This has substantially resulted in the farmers and growers to move to bio-based agri-inputs.
Regional Insights:
North America to Dominate Backed by Stringent Guidelines Regarding Usage of Protective Chemicals
North America held the largest market share and accounted for USD 2.94 billion in 2020 in the global marketplace. The demand for biological crop production and crop protection products is increasingly rising, owing to severe restrictions on the utilization of numerous synthetic crop protection chemicals as they pose considerable risk to the human wellbeing as well as environment.
Europe is one of the dominating consumers of agriculture biological products and the region is anticipated to exhibit cordial performance throughout the forecast period.
Asia Pacific is estimated to demonstrate important growth prospects for the market owing to rising sustainability issues among consumers and farmers.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Key Industry Development:
March 2021: Valagro, a fundamental agriculture-based corporation, declared the unveiling of its biostimulant, Talete in Australia, China, Colombia, France, and Greece. The product assists in sustainable water management in severe circumstances.
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview on Agrochemicals Use Trend
- Crop Cultivation Pattern
- Qualitative Analysis on Advantages of Agricultural Biologicals
- Supply Chain & Regulatory Analysis
- Recent Industry Developments: Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Agricultural Biologicals Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Biopesticides
- Biostimulants
- Biofertilizers
- By Source (Value)
- Microbial
- Biochemicals
- By Application Method (Value)
- Foliar Application
- Soil Treatment
- Seed Treatment
- Others
- By Crop (Value)
- Row Crops
- Fruits & Vegetables
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
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Read Related Insights:
Agricultural Microbials Market Size, Share and Regional Forecast, 2022-2029
Biostimulants Market Size, Share Analysis, Forecast, 2022-2029
Biofertilizers Market Size, Share Analysis, and Regional Forecast, 2022-2029
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