Global Agricultural Biologicals Market is projected to reach USD 16.5 billion by 2024 and is expected to register a CAGR of 13.6% during the Forecast Period of 2019 to 2024. Agriculture biologicals are produced from organic sources such as agricultural waste, manure, biological matter, and microorganisms. They offer excellent properties such as stimulating soil microbial function, activating plant physiology, and adjusting nutrients and PH. These natural fertilizers are a favorable substitute for chemical fertilizers, which protect crops from rodents, pests, and plant diseases.
Some of the key players operating in the Global Agricultural Biologicals Market are DowDuPont (US), Isagro SpA (Italy), Novozymes (Denmark), Marrone Bio Innovations (US), Bayer AG (Germany), Syngenta (Switzerland), Monsanto Company (US), BASF SE (Germany), Valent Biosciences LLC (US), Koppert B.V. (Netherlands), Certis USA L.L.C (Colombia), Agrinos (US), and Arysta LifeScience Corporation (US).
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Global Agricultural Biologicals Market has been segmented on the basis of type, source, mode of application, application, and region. By type, the global agricultural biologicals market has been classified into biopesticides, biofertilizers, bio-stimulants, and others. Among these, the biopesticides segment led the agricultural biologicals market in 2017 owing to the rising innovations in biopesticides, cost-effectiveness, and improved yield of harvest. Biopesticides act only on the target pest and don’t affect the fertility of the soil. The bio-fertilizers segment is projected to grow at a robust CAGR in the coming years due to its enhanced fertility and safe nature when compared to chemical fertilizers, such as urea.
Based on source, the Global Agricultural Biologicals Market has been divided into microbials, biochemicals, and biorationals. Biochemicals are projected to grow at an encouraging CAGR during the forecast period due to its easy availability and cost-effectiveness.
The North American market dominated the agricultural biologicals market in 2017 and is projected to continue its dominance during the forecast period. The US is the leading country in the region owing to the presence of leading manufacturers such as Monsanto Company, Agrinos, and Arysta LifeScience Corporation. The market for Asia-Pacific is projected to grow at the highest CAGR in the coming years and is estimated to show the same trend during the following years. China and India are the prominent countries adopting agricultural biologicals owing to large consumer base and increasing agri-business. Japan and Australia & New Zealand are other countries contributing to the regional market growth.
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