The new report by Expert Market Research titled, ‘Global Agricultural Biologicals Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global agricultural biologicals market, assessing the market based on its segments like product types, sources, modes of application, 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.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
Agricultural biologicals are one of the rapidly growing segments in agricultural inputs. The global agricultural biologicals markets are expected to be driven by several factors, including the growing need for novel innovations to fulfil the food demands of an increasing global population, sustainable agricultural solutions, rising consumer interest in organic solutions, the resistance of weeds and insects to agricultural chemicals, and concerns towards the impact of prevailing agricultural practices on the environment.
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The demand for organic food items is increasing as people become more aware of the detrimental effects of chemical-based fertilisers. This, combined with growing concerns about soil health, agricultural sustainability, and environmental safety, is driving farmers to use agricultural biologicals.
Industry Definition and Major Segments
Agricultural biologicals are a wide set of products derived from microbes, plant extracts, beneficial insects, and other organic matter. Agricultural biologicals are divided into three groups based on their usage in agriculture: biostimulants, biopesticides, and biofertility.
By type, the market is segmented into:
By source, the market is classified into:
By application, the market is divided into:
- Foliar Spray
- Seed Treatment
- Soil Treatment
By crop type, the market is classified into:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The growing demand for greener and safer crop protection technologies is driving the market growth globally. In terms of product approvals and modifying regulations to boost market penetration, the country’s regulatory bodies have become more involved. The rising number of mergers and acquisitions, as well as partnerships for research and new product development, are predicted to help the market flourish.
Agricultural biologicals are being promoted by a number of government agencies and non-profit organisations (NGOs) to support diversity in modern farming practices. Aside from that, the market is expected to grow due to the significant functions of agriculture biologicals in the organic and conventional crop production systems and increased investments by leading players in research and development (R&D) projects.
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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