The new report by Expert Market Research titled, ‘Global Agricultural Biologicals Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global agricultural biologicals market, assessing the market based on its segments like product types, sources, mode of applications, crop types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027
- Forecast CAGR (2022-2027): 5%
The agricultural biologicals market is being driven by the growing need for sustainable agricultural production owing to numerous challenges, such as burgeoning population, biotic or abiotic stress, shrinking natural resources, and decreasing arable land. The rising environmental consciousness is leading farmers to adopt organic farming and use agricultural biologicals industry as they are not hazardous to the soil ecosystem. Moreover, the advantages of agricultural biologicals, such as residue management, resistance management, and cost-effectiveness, are leading to the incremental development of the agricultural biologicals industry. The rising inclination of consumers towards organic products is also contributing to the steady growth of the industry. Further, the increasing incidents of pest infections on crops and less difficulty in attaining regulatory approvals than chemical products are likely to aid the market in the forecast period.
Industry Definition and Major Segments
Agricultural biologicals are products derived from organic matters such as microorganisms, natural compounds such as plant extracts, semiochemicals like pheromones, and beneficial insects or macroorganisms, among others. They replace the chemicals used in agriculture and protect the plants from pests and diseases while improving crop productivity.
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The agricultural biologicals industry, by product type, is segmented into:
Based on source, the market is classified into:
On the basis of mode of application, the market is divided into:
- Foliar Spray
- Seed Treatment
- Soil Treatment
Based on crop type, the market is classified into:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
The regional markets of agricultural biologicals include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The government initiatives towards promoting organic farming, such as Paramparagat Krishi Vikas Yojana and Mission Organic Value Chain Development for North-Eastern Region in agriculture-oriented nations, such as India, are leading to the expansion of the agricultural biologicals industry. The new product launches by companies to expand their product portfolios is significantly catalysing the growth of the agricultural biologicals industry. For instance: In 2021, Novozymes launched five effective biological solutions – BioniQ, TagTeam BioniQ Pro, TagTeam BioniQ Chickpea, Taegro 2, and Optimise FXC for the United States agricultural market. The products will help the farmers of the region improve yield and fertility and increase the application of biocontrol. The technological advancements in genetic sequencing, industrial-scale fermentation processes, and investments in rigorous scientific research on developing new products that will meet the expectations of plant growers are expected to augment the agricultural biologicals industry in the forecast period.
Key Market Players
The major players in the market are BASF SE, Gowan Company, L.L.C. (Isagro S.p.A.), Syngenta Crop Protection AG, Marrone Bio Innovations, Inc., Vegalab SA, and Lallemand Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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