Agricultural Biologicals Market worth $24.6 Billion by 2027 | Key Players are BASF, Syngenta, Bayer AG, Marrone Bio Innovation, Inc, Gowan Company, Vegalab SA, Lallemand Inc
The Agricultural Biologicals market 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
The report “Agricultural Biologicals Market by Function, Product Type (Microbials, Macrobials, Semiochemicals, Natural products), Mode of Application (Foliar Spray, Soil and Seed treatment), Crop Type and Region – Global Forecast to 2027″, published by MarketsandMarkets™, 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.
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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100393324
The Biocontrol segment by function is projected to achieve the fastest growth in the Agricultural Biologicals market.
The usage of biocontrol methods in integrated pest management programs is projected to drive the growth of the market. Biological control is a key component of an Integrated Pest Management (IPM) strategy, with biological control tactics taking precedence over other strategies in the program and vice versa. The increasing popularity of biopesticides in crop protection compared to their synthetic counterparts is due to their lower development cost, suitable use in sustainable agriculture, and as an additional tool to manage resistance in integrated pest management schemes.
By product type, the microbial segment is estimated to account for the largest market share in the Agricultural Biologicals market.
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 foliar segment by mode of application is estimated to account for the largest market share of the Agricultural Biologicals market over the forecast period.
The foliar spray segment dominated the agricultural biologicals market in 2022. The ease of use and non-technicality of the method are key factors that have led to its increasing popularity and preference. Besides the developing countries, foliar sprays are also widely accepted by farmers of developing countries due to their low cost than soil and seed treatment.
Request for Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=100393324
The fruits and vegetables segment is estimated to observe the fastest market growth in the Agricultural Biologicals market during the forecast period.
The fruits & vegetables segment accounts for the largest share in the agricultural biologicals market since most companies offer biological solutions for vegetable crops, such as tomatoes, cabbage, pumpkin, cucumber, and bitter gourd. According to the FAO’s Statistical Yearbook of Food & Agriculture Organization, the production of vegetables has grown intensively on a per capita basis and has increased by nearly 60% in the last 20 years. Moreover, the production of vegetables accounts for nearly 12% of the total area and 14% of the total production globally.
North America is estimated to be the largest market.
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.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Agricultural Biologicals Market worth $24.6 Billion by 2027 | Key Players are BASF, Syngenta, Bayer AG, Marrone Bio Innovation, Inc, Gowan Company, Vegalab SA, Lallemand Inc