Impact of COVID-19: Agricultural Biologicals Market Size, Share, Investment Opportunities, Top Regions, Growth & Forecast by 2024
The Global Agricultural Biologicals Market is projected to reach a value of over USD 20.9 billion by 2027 at a CAGR of 11.4%.
Agricultural biologicals are referred as the chemicals derived from the natural sources such as microbes, insects, plant extracts, and others to boost the agricultural output. These products are less toxic as compared to conventional agrochemicals and are used for enhancing soil condition, seed treatment, and help in protecting plants from pest, weed plants, and other external barriers. Moreover, it also helps plants to increase the absorption of the essential nutrients, thereby, increasing the overall agricultural yield.
AGRICULTURAL BIOLOGICALS MARKET: Drivers & CHALLENGES
Growing Demand for High Agricultural Yield
Globally, the demand for food is increasing, which is an outcome of rising global population. As per United Nation Department of Economic and Social Affairs, the global population is projected to reach USD 9.8 Billion by 2050. Growing global population resulting into rise in the per capita food consumption, which results in high demand for enough agricultural yield. Increasing crop productivity through eco-friendly substitute in order to preserve biodiversity with changing global climate is likely to fuel the global market. Limited availability of arable land within the developed nations is another factor fueling the demand for higher crop yield, which in turn, drives the growth of agricultural biologicals.
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Increasing Chemical Resistance among Agricultural Plants
Since ages, synthetic chemical pesticides are used for improving agricultural products. Increasing chemical resistance towards the pesticides in pests is the serious global issue, leading major loss of the agricultural produce. This has driven attention towards the use of the biologically produced pesticides and other agricultural biologicals. Increasing demand for bio-pesticides for better crop protection, as a part of integrated pest management to decrease the agricultural loss due to pest and other harmful organisms is driving the demand for agricultural biologicals.
Adoption of Organic Farming Technique
Growing adoption of organic farming especially in the developing and developed nations to reduced hazardous impact of the chemical fertilizers, pesticides and others is expected to boost the market growth immensely in the years to follow. Increasing investment along with favorable support by the Government is creating new growth avenues for the biologicals market.
Agricultural biologicals market: Key segments
- On the basis of source: Plant Extract, Microbials and Macrobials
- On the basis of type: Biostimulant, Biopesticides and Biofertilizers
- On the basis of crop type: Fruits & Vegetable, Oil Seeds, Cereals & Grains and Others
- On the basis of application: Foliar Sprays, Soil Fixation, Seed treatment, Root Dipping and Others
- On the basis of end-user: Agricultural Research Institutes, Biological Product Manufacturers and Government Agencies
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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List of the leading companies operating in the Agricultural Biologicals Market include:
- BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Valent BioSciences LLC
- SEIPASA, S.A.
- Vegalab S.A.
- Other Key Companies
Agricultural biologicals MARKET: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Agricultural Biologicals Market, by Source
- Plant Extract
Agricultural Biologicals Market, by Type
Agricultural Biologicals Market, by Crop Type
- Fruits & Vegetable
- Oil Seeds
- Cereals & Grains
Agricultural Biologicals Market, by Application
- Foliar Sprays
- Soil Fixation
- Seed treatment
- Root Dipping
Agricultural Biologicals Market, by End-user
- Agricultural Research Institutes
- Biological Product Manufacturers
- Government Agencies
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Agricultural Biologicals Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
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