BASF SE (Germany) and Isagro (Italy) are the Major Players in the Agricultural Biologicals Market

Chicago, 2021-May-11 — /EPR Network/ —

The agricultural biologicals market size is estimated to account for a value of USD 8.8 billion in 2019 and is projected to grow at a CAGR of 13.6% to reach a value of USD 18.9 billion by 2025. The increase in preference for organic food products across the globe has led to a surge in demand for bio-based crop protection methods, which has contributed to the growth of the agricultural biologicals market. The shift toward sustainable agriculture has also, lead to an increase in the use of agricultural biologicals globally.

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The agricultural biologicals market witnessed significant growth due to factors, such as the ban of chemical-based products by the government, increasing exports of organic food products, and degrading soil and water quality due to the continuous usage of chemical pesticides. Key players in this market include BASF SE (Germany), Syngenta (Switzerland), Marrione Bio Innovation (US), Isagro (Italy), UPL (India), Evogene (Israel), Bayer (Germany), Vegalab (US), Valent (US), Stockton (Israel), Biolchim (Italy), Rizobacter (Argentina), Valagro (Italy), Koppert Biological Systems (Netherlands), Lallemand (Canada), Symborg (Spain), Andermatt Biocontrol (Switzerland), Seipasa (Spain), and Verdasien Life Sciences (US). These major players are focusing on undertaking acquisitions and mergers to improve their presence in the agricultural biologicals market. They are focusing on introducing new and advanced technology solutions for biologicals.

By function, the biocontrols segment is projected to be the fastest-growing segment in the market during the forecast period

Biocontrol is a broad term that includes biopesticides, bioinsecticides, biofungicides, and bionematicide. Major players in the market include biocontrol products in their product portfolio to cater to the increasing demand for biocontrol globally. The increased instances of pest infestations on major crops, such as wheat, rice, corn, and sugarcane, is one of the key factors for the dominance of biocontrol products in agricultural biologicals market. Biocontrol methods are cost-effective, unlike their chemical counterparts, and are effective in micro quantities.

By product type, the microbials segment is projected to dominate the market during the forecast period.

The availability of strains, ease of production, and a higher rate of adoption among farmers are some of the drivers leading to the dominance of microbials in the agricultural biologicals market. The use of microbials does not need the user to have specific technical knowledge and high-end distribution logistics such as macrobials. This factor has led to a higher acceptance of microbial solutions than any other type of agricultural biologicals among growers.

By mode of application, the foliar spray segment is projected to be the fastest-growing segment in the market during the forecast period

The foliar spray is the most adopted way of applying biologicals to the plants in 2018. This is attributed to their ease of use and effectiveness. The foliar spray directly affects the leaf, which helps in the easy absorption of nutrients and trace elements. Small farmers in the Asia Pacific region generally prefer foliar sprays over soil treatment due to their cost.

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North America is projected to grow at the highest CAGR during the forecast period

The North American region accounted for the largest share in the market. This market is projected to grow at the highest CAGR during the forecast period. The largest share of the North American region is attributed to its high-end R&D infrastructure and the high number of patents received for biopesticides and biostimulants by companies based in the region.

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