Agricultural Biologicals Market Size to be worth $24.6 Bn by 2027, Growing at a CAGR of 13.7%: Report by MarketsandMarkets™

Chicago, May 31, 2023 (GLOBE NEWSWIRE) — The agricultural biologicals market was valued at US$12.9 billion in 2022. The market is estimated to expand to US$24.6 billion by 2027, exhibiting a CAGR of 13.7% over the projected period. The agricultural biologicals market is driven by increasing demand for sustainable and environmentally friendly farming practices, as well as by growing awareness of the benefits of these products for crop health and yield. The increasing use of biopesticides and biofertilizers is also a major driver of the market, as they are seen as more environmentally friendly alternatives to traditional chemical pesticides and fertilizers. MarketsandMarkets™ provides this information in its research report, titled “Agricultural Biologicals Market Global Forecast, 2022-2027”.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100393324

Key Industry Development:

One key industry development in the agricultural biologicals market is the increasing adoption and demand for biopesticides. Biopesticides are derived from natural substances such as plants, animals, bacteria, and certain minerals. They are used to control pests, diseases, and weeds in agricultural crops.

Report Scope & Segmentation:

Key Takeaways:

1. Agricultural biologicals market size is expected to grow to US$24.6 billion by 2027.
2. Governments and regulatory bodies around the world are imposing stricter regulations on chemical pesticides to protect human health and the environment. These regulations often result in the phase-out or ban of certain synthetic pesticides. As a result, farmers are turning to agricultural biologicals as safer and compliant alternatives for pest and disease management.
3. The Biocontrol segment is estimated to account for the largest market share in the Agricultural Biologicals market.
4. The agricultural biologicals market is highly competitive, with numerous players operating in the industry. Key players include BASF, Syngenta, Bayer AG, UPL, Marrone Bio Innovation, Inc etc.
5. North America is projected to account for the largest share in the agricultural biologicals market during the forecast period.

Drivers and Opportunities:

Rising trend for organically produced foods amongst consumers driving the demands for biologicals

Organic farming enables the production of high-quality, certified, controlled, and safe food. Consequently, it provides high economic and environmental benefits and preserves a healthy ecosystem. The interest of consumers in organic agricultural production has been growing at an unprecedented rate over the last few years. Rising consumers’ awareness about the increasing use of pesticides and fertilizers in farm-grown vegetables has led to increased adoption of organic food products. According to a study by the Organic Trade Association in 2019, organic food products accounted for 90% of the overall organic product industry.

Increasing importance of sustainable food production globally

Food companies are taking notice of this environment, and efforts such as “Field to Market or Farm to Table” are defining sustainable farming. The concept of bio-farming is actively gaining pace as it is based on the use of organic and biofertilizers (natural and manufactured) instead of using chemical fertilizers as well as the use of safe green pesticides and pesticides. By adopting sustainable practices, farmers reduce their reliance on non-renewable energy, reduce chemical use and save scarce resources. Keeping the land healthy and replenished can go a long way when considering the rising population and demand for food. Food companies are stepping up their sustainable efforts, collaborating with their suppliers, and fine-tuning their business models.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=100393324

Segments:

By product type, the microbial segment is estimated to account for the largest market share in the Agricultural Biologicals market.

The ability to increase the nutrient availability in the soil and enhance plant yield to drive the growth of the microbials segment. Microbial biological control agents (MBCAs) are used to biologically control plant pathogens in crops, and they work in a variety of ways. Without directly interacting with the pathogen, some MBCAs interact with plants via inducing resistance or priming plants. Other MBCAs modulate pathogen growth conditions through nutritional competition or other methods.

The foliar segment by mode of application is estimated to account for the largest market share of the Agricultural Biologicals market over the forecast period.

The foliar spray segment dominated the agricultural biologicals market in 2022. The ease of use and non-technicality of the method are key factors that have led to its increasing popularity and preference. Besides the developing countries, foliar sprays are also widely accepted by farmers of developing countries due to their low cost than soil and seed treatment.

The fruits and vegetables segment is estimated to observe the fastest market growth in the Agricultural Biologicals market during the forecast period.

The fruits & vegetables segment accounts for the largest share in the agricultural biologicals market since most companies offer biological solutions for vegetable crops, such as tomatoes, cabbage, pumpkin, cucumber, and bitter gourd. According to the FAO’s Statistical Yearbook of Food & Agriculture Organization, the production of vegetables has grown intensively on a per capita basis and has increased by nearly 60% in the last 20 years. Moreover, the production of vegetables accounts for nearly 12% of the total area and 14% of the total production globally.

Regional Insights:

North America: North America is a significant market for agricultural biologicals. The United States and Canada have a well-established agricultural sector and a strong emphasis on sustainable farming practices. The region has witnessed increasing adoption of agricultural biologicals due to the demand for organic and natural food products. The presence of major agricultural biotechnology companies and a favorable regulatory environment contribute to the growth of the agricultural biologicals market in North America.

Europe: Europe has a robust market for agricultural biologicals driven by strict regulations on chemical pesticides and a strong consumer demand for organic products. The region has been at the forefront of organic farming practices and has implemented policies to support sustainable agriculture. Countries like Germany, France, and the Netherlands have a significant share in the European agricultural biologicals market. The European Union’s stringent regulations on pesticide residues and sustainable agriculture practices have fostered the adoption of agricultural biologicals.

Asia Pacific: The Asia Pacific region is witnessing significant growth in the agricultural biologicals market. Countries such as China, India, and Japan have large agricultural sectors and face challenges related to pesticide residues, soil degradation, and environmental pollution. As a result, there is an increasing focus on sustainable agriculture and the adoption of agricultural biologicals. Government initiatives promoting organic farming and the rising awareness among farmers about the benefits of biological inputs are driving the market growth in this region.

Latin America: Latin America is a prominent region for agricultural production, and the adoption of agricultural biologicals is growing steadily. Countries like Brazil, Argentina, and Mexico have a strong presence in the agricultural biologicals market. The region’s favorable climate conditions for agriculture and the need to reduce chemical pesticide usage drive the demand for biological solutions. Additionally, the expanding organic farming sector and export opportunities for organic products contribute to the market growth in Latin America.

Rest of the World: Other regions, including Africa and the Middle East, are also witnessing an increasing adoption of agricultural biologicals. These regions often face challenges related to pests, diseases, and limited access to chemical inputs. Agricultural biologicals provide sustainable and cost-effective solutions for smallholder farmers in these regions. Government initiatives and international collaborations are supporting the growth of the agricultural biologicals market in these areas.

List of Key Players Mentioned in the Report:

• BASF (Germany)
• Syngenta (Switzerland)
• Bayer AG (Germany)
• UPL (India)
• Marrone Bio Innovation, Inc (US)
• Gowan Company (US)
• Vegalab SA (Switzerland)
• Lallemand Inc (Canada)

Have Any Query? Ask Our Experts: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=100393324

Frequently Asked Questions (FAQs):

What is the projected market value of the global Agricultural Biologicals Market?

The global agricultural biologicals market size is projected to reach USD 24.6 billion by 2027.

What is the estimated growth rate (CAGR) of the global Agricultural Biologicals Market for the next five years?

The global agricultural biologicals market is expected to grow at a compound annual growth rate (CAGR) of 13.7% from 2022 to 2027.

What are the major revenue pockets in the Agricultural Biologicals Market currently?

The agricultural biologicals market is growing in North America due to the increasing applications in the agricultural sector for the adoption in fields, vegetables, and fruit crops. The governments in the North American region have made the registration of biopesticides products more efficient through the development of modified test methodologies and clear guidance documents. This helps key companies to develop new products and register them before commercialization.

Browse Adjacent Reports @ Agriculture Industry Market Research Reports & Consulting

Other Reports Related to Agriculture Industry:

Compound Feed Market

Crop Protection Chemicals Market

Biological Seed Treatment Market

Probiotics in Animal Feed Market