According to IMARC Group’s latest report, titled “Agricultural Biologicals Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global agricultural biologicals market reached a value of US$ 10.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.8 Billion by 2027, exhibiting at a CAGR of 15.2% during 2022-2027.
Base Year: 2021
Forecast Year: 2022-2027
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Agricultural biologicals are crop production and protection products obtained from naturally occurring sources, such as living organisms, plant extracts, insects, and organic matter. They are applied to the soil to protect plants and crops from weeds, pests, and diseases and improve their yield, nutrient uptake, and overall health. They also help in residue and resistance management, maintaining mineral and microbial balance, increasing carbon levels, and improving the water-holding capacity of the soil. Presently, farmers worldwide are adopting agricultural biologicals as an eco-friendly alternative to synthetic and chemical fertilizers to grow healthy crops.
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Due to the growing global population, scarcity of cultivable land, and rising food insecurities, there is a simultaneous increase in the demand for agricultural biological products. Moreover, the emerging trend of chemical-free and organic foods is driving the sales of agricultural biologicals across the globe. Furthermore, governing agencies of numerous countries, along with non-profit organizations (NGOs), are encouraging the adoption of modern farming practices and focusing on educating farmers on the health and environmental impact of synthetic or chemical-based fertilizers. This, in confluence with increasing investments by the several key players in research and development (R&D) activities, is anticipated to propel the market further.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the type, source, mode of application, application and geography.
Breakup by Type:
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