Agricultural biologicals are considered comparatively safer than synthetic agrochemicals, as they are derived from natural sources and do not leave residues on the crops. They are increasingly used in farming to replace toxic pesticides and fertilizers. Over recent years, the global agricultural biologicals market is witnessing a constant rise in revenues. The increasing awareness among farmers regarding the benefits of biologicals acts as a major driving force for the growing demand for agricultural biologicals.
Moreover, the demand for organic food products accelerates market growth exponentially. The agricultural biologicals market researchhas already been demonstrating a rapid surge in its demand. According to Market Research Future (MRFR), Agricultural Biologicals Market Size is Anticipated to be Worth USD 17.9 Billion at a CAGR of 12.2% by 2023-2030. Increasing consumption of biostimulants drives the market growth, predominantly.
Besides, augmenting demand to increase the production of quality yield led by the ever-increasing global population fosters the growth of the market. Also, the growing demand for organic produce is encouraging the growth of the global agricultural biologicals market. On the other hand, logistical challenges, price volatility, and the demand-supply gap in the raw materials are the major factors projected to impede the growth of the market. Nevertheless, advances in production technologies of agricultural biologicals would support the growth of the market throughout the review period.
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Global Agricultural Biologicals Market – Segments
The analysis is segmented into five market dynamics;
By Type : Biopesticides, Bio-Stimulants, Biofertilizers, and others.
By Source : Microbials, Biochemicals, and others.
By Mode of Application : Soil Treatment, Foliar Sprays, Seed Treatment, and others.
By Crop Type : Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Agricultural Biologicals Market - Regional Analysis
Europe dominates the global agricultural biologicals market. The largest market share attributes to the growing adoption of organic farming in the country and increased demand for the agrarian biologicals in the region. Also, the high inclination towards using seaweeds extracts as a biostimulant in the making of feed supplements boost the regional market growth. Moreover, the rising demand for biostimulants to improve the quality & quantity of crops in the region drives market growth. The European agricultural biologicals market is expected to retain its leading position over the global market throughout the forecast period.
North America accounts for the second-largest share second in the global agricultural biologicals market, witnessing the high demand for biostimulant. Moreover, the large production and consumption of biostimulants in the region allow the market to garner substantial traction. The higher inclination towards the usages of biostimulant for crops drives the growth of the regional market. The North American agricultural biologicals market is estimated to register fabulous growth accruals over the assessment period.
Asia Pacific region accounts for a promising market for agricultural biologicals, globally. The increasing production and consumption of biostimulants in countries such as Japan, China, and India substantiate the regional market growth. Moreover, spreading awareness for the benefits of agricultural biologicals fosters the growth of the regional market. Furthermore, the presence of several market players, alongside the upcoming research activities to bring about value-added agricultural products stimulates the growth of the regional market. The APAC agricultural biologicals market overviewis projected to grow at a phenomenal CAGR throughout the forecast period.
Global Agricultural Biologicals Market - Competitive Analysis
The agricultural biologicals market appears to be well-established and highly competitive with the presence of several large and small-scale players. Mergers & acquisitions, brand reinforcement, and product launches remain the key trends of these players to drive their share in the market.
Major Players:
Players leading the global agricultural biologicals market include Valent Biosciences (US), Syngenta AG (Switzerland), Bayer AG (Germany), BASF SE (Germany), Koppert BV (Netherlands), Arysta LifeScience (Japan), DowDuPont (US), Marrone Bio Innovations (US), Arysta LifeScience (Japan), Novozymes (Denmark), Valagro (Italy), Isagro (Italy), Certis USA LLC (US), Biolchim (Italy), and Agrinos (US), Agrilife (India), among others.