Agricultural Biologicals Market is Expected to Reach $24.6 billion by 2027
Posted 2022-09-12 14:08:30
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The market for Agricultural Biologicals is estimated at USD 12.9 billion in 2022; it is projected to grow at a CAGR of 13.7% to reach USD 24.6 billion by 2027. Strong initiatives toward organic farming and the increasing awareness of environmental protection have encouraged the demand for agricultural biologicals in the agriculture industry. Factors such as degrading soil health due to the increasing usage of chemical-based crop protection methods, decreased productivity, and rising instances of pest infestations are the key factors contributing to the growth of the biologicals segment for crop protection and crop enhancement.
The global agricultural biologicals market is dominated by North America and Europe in 2022 due to the adoption of advanced agricultural technologies and organic farming practices. However, the demand for agricultural biological products in developing countries of regions, such as Asia Pacific and South America, has significantly increased. This increase in demand is primarily attributed to the stringent regulatory frameworks regarding the maximum residue level (MRL); banning of chemical pesticides; increase in the cost of agricultural inputs, such as seeds; and a decrease in the proportion of cultivable land. The adoption of GM seeds and integrated pest management (IPM) are the key factors that have also contributed to the growth of the biologicals market.
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The ability to increase the nutrient availability in the soil and enhance plant yield to drive the growth of the microbials segment. Microbial biological control agents (MBCAs) are used to biologically control plant pathogens in crops, and they work in a variety of ways. Without directly interacting with the pathogen, some MBCAs interact with plants via inducing resistance or priming plants. Other MBCAs modulate pathogen growth conditions through nutritional competition or other methods.
The agricultural biologicals market is growing in North America due to the increasing applications in the agricultural sector for the adoption in fields, vegetables, and fruit crops. The governments in the North American region have made the registration of biopesticides products more efficient through the development of modified test methodologies and clear guidance documents. This helps key companies to develop new products and register them before commercialization.
The key players in this market include BASF (Germany), Syngenta (Switzerland), Bayer AG (Germany), UPL (India), Marrone Bio Innovation, Inc (US), Gowan Company (US), Vegalab SA (Switzerland), Lallemand Inc (Canada), Valent Bioscience (US), Koppert Biologicals System (Netherlands), Biovert S.L. (Spain), Trade Corporation International (Spain), Stockton Bio AG (Israel), Biolchim SPA (Italy), and Rhizobacter (Argentina). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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