The global agricultural biologicals market was valued at USD 13.44 billion in 2023 and is projected to grow from USD 15.29 billion in 2024 to USD 44.70 billion by 2032, reflecting a CAGR of 14.35% over the forecast period.
Agricultural biologicals, which can be used independently or in conjunction with synthetic pesticides, are becoming increasingly popular due to concerns about the risks associated with artificial chemicals in agriculture. Biopesticides offer a less toxic and more targeted alternative to synthetic options, enhancing their appeal.
These insights are provided in the study titled “Agricultural Biologicals Market, 2024-2032” by Fortune Business Insights™.
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Segmentation
Surging Focus of Farmers on Developing Pest-resistant Products to Impel the Biopesticides Segment Expansion
In terms of type, the market is classified into biofertilizers, biopesticides, and biostimulants. The biopesticides segment registered the largest share in 2023. This is on the back of the growing emphasis of agriculturists and farmers on developing pest-resistant products to boost the yield of high-quality crops.
Rising Uptake of Microbials to Foster the Segment Growth
Based on source, the agricultural biologicals market is divided into biochemicals and microbial. The microbial segment witnesses a major part in the agricultural biologicals market share. The surging adoption of microbials by farmers to solve different major agricultural issues is augmenting the segment expansion.
Surging Adoption of Foliar Spray by Large Farmers to Augment the Segment Expansion
With respect to application method, the market is categorized into seed treatment, soil treatment, foliar spray, and others. The foliar spray segment captured a major share in 2023. The growing adoption of foliar spray by large and small-sized conventional and organic farmers is bolstering the segment growth.
Surging Consumer Preference for Less Processed Foods to Spur the Row Crops Segment Growth
By crop, the market is segregated into fruits & vegetables, row crops, and others. The row crops segment dominated in 2023 on account of the growing consumer preference for less organic and processed foods.
From the regional perspective, the market is classified into Europe, the Asia Pacific, North America, the Middle East & Africa, and Europe.
Report Coverage
The report delivers a thorough analysis of the key factors influencing the growth of the agricultural biologicals market, including both drivers and obstacles. It offers an in-depth examination of significant industry developments, the impact of COVID-19, and current market trends. Additionally, the report provides valuable insights into the strategic approaches that industry leaders use to gain a competitive edge.
Drivers and Restraints:
Increasing the Adoption of Integrated Pest Management Techniques to Accelerate Market Growth in Sustainable Agriculture
A major driver of growth in the agricultural biologicals market is the rising adoption of integrated pest management (IPM) techniques, which promote sustainable farming practices. Biopesticides are becoming increasingly popular among farmers seeking innovative and eco-friendly solutions for crop protection, owing to their effectiveness and environmental benefits.
However, the market may face challenges due to the absence of clear regulatory standards for agricultural biologicals, which could potentially impede market expansion.
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Regional Insights:
North America Held the Lead Because Field Crop Acreage Was Increasing
In 2023, North America held the largest share of the agricultural biologicals market, driven by the increasing prevalence of plant diseases and viruses and the expanding area of land devoted to field crops such as soybeans, wheat, and cotton.
In Europe, the market for agricultural biologicals is growing due to the rising costs of chemical fertilizers, especially those based on nitrogen and phosphorus.
Competitive Landscape:
Important Players Use Product Development Techniques to Boost Their Market Share
The agricultural biologicals industry is characterized by a blend of well-established and emerging competitors, leading to moderate consolidation. Key market leaders secure a substantial share of the market due to factors such as expanding global food production, a loyal consumer base, strong brand recognition, and efficient distribution networks. Additionally, leading companies are enhancing their market positions through strategic product development.
Key Industry Development:
August 2022: The first product in the Mycorrhiza category of biofertilizers, UTTAM SUPERRHIZA, was introduced by Chambal Fertilizers and Chemicals Limited (CFCL). The product uses an advanced growth promoter technology that provides natural biological inputs to enhance the performance of Mycorrhiza.
List of Key Players Mentioned in the Report:
- Bayer AG (Germany)
- BASF SE (Germany)
- Syngenta AG (Switzerland)
- UPL Limited (India)
- Marrone Bio Innovations (U.S.)
- SEIPASA S.A. (Spain)
- Koppert Biological Systems (Netherlands)
- PI Industries (India)
- Novozymes A/S (Denmark)
- Gowan Group (U.S.)
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