The report “Top Trends in the Agricultural Biologicals Market by Agricultural Biologicals, Biocontrols, Bio fungicides, Bioinsecticides, Bio nematicides, Biostimulants, Biofertilizers, Inoculants, Pheromones, Biological Seed Treatment – Global Forecast to 2026” The agricultural biologicals market is projected to grow at a CAGR of 11.9% from an estimated value of USD 10.6 billion in 2021 to reach USD 18.5 billion by 2026 The market is driven by factors such as increased awareness towards organic food, growing concerns about the hazards of using chemicals, demand for high-value crops, and increase in awareness about residue levels in food, and favorable regulatory framework for the application of agricultural biologicals products are some of the key drivers for growth in agricultural biologicals market.
COVID-19 Impact on the Global Agricultural Biologicals Market
Amid the spread of Covid-19 pandemic the consumption pattern of consumers showed a responsible shift from non-organic to organic, which is happening today. An emerging focus on preventive healthcare is gradually but systematically bringing about a shift in the global conventional farming practices and producers are encouraged to produced more using sustainable methods and resources. This is in turn driving the market for agricultural biologicals globally. In the manufacturing sector the pandemic has sped up the shift from global to more local economies. As part of this transformation, industries are looking to bring supply chains closer to home and are creating major “reshoring” opportunities. Amid this, raw material manufacturers for agricultural biologicals also faced disruptions in supply and difficulty in maintain operational continuity. However, agriculture sector was highly supported globally by the governments and there were tremendous efforts being taken to manage the streamlining of their operations as normal to maintain productivity.
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Bio nematicides is estimated to be the most important market trend among the top trends in agricultural biologicals market.
Bionematicides are the fastest-growing trend in the agricultural biologicals market. Nematodes result in a heavy infestation of the plant parts such as roots, leading to heavy losses of crops every year. The major challenge is to feed the growing population and ensure food safety. It doesn’t kill the plant but hampers the growth of the plant, due to which bionematicides are gaining importance across the world. The growing concerns related to the application of crop protection chemicals and the gradual phase-out of key active ingredients used to control nematodes are some of the key drivers for the growth of the bionematicides market.
Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market.
Bioinsecticides are projected to stand second, in terms of the fastest-growing trends, during the forecast period from 2021 to 2026. The rising awareness about technology in agriculture, high-value crops, and increased level of pest attacks due to various factors are the major drivers for the growth of bioinsecticides market. Various high-value crops such as corn, soybean, potato, and tomato face strong infestation by insects. Hence, bioinsecticides are experiencing high demand across regions, especially in North America. Bioinsecticides are widely adopted in North America due to high awareness about the growing concerns over the application of pesticides and increasing area under organic farming, which are also driving the market for bioinsecticides in this region.
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Significant competition to capitalize on the market potential among international manufacturers in the Europe and American regions.
The need to maintain a minimum residual level in food products and high growth prospects for organic food has been driving the agricultural biologicals market in these regions. Developed countries adopt modern agricultural practices and have strict regulations to limit excessive agrochemical applications. Therefore, the markets in Europe and North America are influenced by such drivers. The awareness regarding the sustainable benefits of biologicals has promoted the growth in developing countries such as Asia Pacific and South America.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), Bayer AG (Germany), UPL (India), Marrone Bio Innovations (US), Corteva AgriSciences (US), Valent BioSciences (US), Koppert Biological Systems (Netherlands), and Certis USA LLC (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include Valagro S.P.A. (Italy), Syngenta AG (Switzerland), Stockton Bio-AG (Israel), Valent BioSciences (US), and Rizobacter (Argentina), among others.
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