Meticulous Research®—a leading global market research company, published a research report titled “Agricultural Biologicals Market By Product Type (Biopesticides, Biostimulants, Biofertilizers) Source (Microbial, Biochemical), Formulation (Liquid), Mode of Application (Seed Treatment), Crop Type (Fruits & Vegetables), and Geography - Forecast to 2029.”

According to this latest publication from Meticulous Research®, in terms of value, the agricultural biologicals market is expected to record a CAGR of 12.2% from 2022–2029 to reach $20.81 billion by 2029. The growth of this market is mainly driven by the growing organic farming & demand for organic food, growing awareness about environmental safety, rising government initiatives, and increasing investments from leading companies. However, lack of education and awareness among farmers and challenges to new entrants are expected to hinder the growth of this market to a certain extent. Moreover, the huge agricultural diversity and arable land in emerging countries, including Asia-Pacific and Latin America, are expected to offer significant growth opportunities for players operating in the agriculture biologicals market.

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The global agricultural biologicals market study presents historical market data in terms of value (2020 and 2021), estimated current data (2022), and forecasts for 2029. The market is segmented based on product type (biopesticides, biofertilizers, and biostimulants), source (microbial, biochemical, and others), formulation (liquid and dry), application (foliar spray, soil treatment, seed treatment, and other modes of application), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, and other crop types). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product type, in 2022, the biopesticides segment is expected to account for the largest share of the global agricultural biologicals market. The large share of this market is mainly attributed to the increasing investment from leading crop protection companies, growing awareness about environmental safety, higher crop quality and yield with the use of biopesticides, growing organic farming & demand for organic food, and rising government initiatives.

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Based on source, the microbial segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period. As microbial origin biologicals are composed of naturally occurring viruses, fungi, or bacteria, they are mostly preferred for organic and residue-free food production. Further, factors such as the higher advantage of selectivity; high effectivity; no adverse effects on humans, plants, and animals; and ease of use are driving the growth of the microbial biologicals market across the globe.

Based on formulation, in 2022, the liquid biologicals segment is expected to account for the largest share of the overall agricultural biologicals market. The growth of this segment is mainly driven by factors such as uniform and easy application, better performance, and higher effective duration (up to 6 months) than that of dry formulation (up to 3 months). Also, their increased importance in the latest irrigation technologies like drip irrigation and sprinkler irrigation with the reduction in blockage is the key factor attributed to the growth of this segment.

Based on the mode of application, the seed treatment segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period of 2022—2029. The fast growth of this segment is attributed to factors such as increased nutrient availability in the rhizosphere, enhanced root and shoot growth, increased nutrient uptake, protection from pathogens, and better nutrient utilization efficiency. Further, farmers in developed countries are increasingly using seed treatment techniques as it increases germination and ensures uniform seedling emergence, which is one of the major factors expected to boost the demand for seed treatment in the market.

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Based on crop type, in 2022, the fruits and vegetable segment is estimated to account for the largest share of the global agricultural biologicals market. The large share of this segment is mainly attributed to the increasing fruit & vegetable production across the globe, growing demand for chemical-free organic fruits & vegetables, and the growing number of diseases affecting fruit & vegetable crops.

This research report also analyzes major geographies and provides a comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Latin America witnessed a rapid growth of the global agricultural biologicals market during the forecast period of 2022—2029. The fast growth of this market is mainly attributed to factors such as growing food demand, rising demand and popularity of organic products with growing organic farming, environmental concerns over agrochemical usage, and the rising need to increase agricultural production.

Key Players
The key players operating in the global agricultural biologicals market are Bayer AG (Germany), Koppert B.V. (Netherlands), Marrone Bio Innovations (U.S.), FMC Corporation (U.S.), Gowan Company LLC (U.S.), Vegalab SA (Switzerland), The Stockton Group (Israel), International Panaacea Limited (India), InVivo Group (France), Biolchim Group (Italy), Seipasa S.A. (Spain), Syngenta AG (Switzerland), BASF SE (Germany), Novozymes A/S (Denmark), Andermatt Biocontrol AG (Switzerland), Certis U.S.A. LLC (U.S.), Som Phytopharma India Limited (India), W. Neudorff GmbH KG (Germany), Rizobacter S.A. (Argentina), Lallemand Inc. (U.S.), and Valent U.S.A. LLC (U.S.), among others.

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