Agricultural Biologicals Market: Trend, Forecast, Opportunity

Chicago, 2021-Dec-09 — /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. Factors such as the increasing trend of sustainable agriculture in the global market, low residue levels, and supportive regulations are the key factors driving the growth of the agricultural biologicals market. Expansions, new product launches, and agreements were the dominant strategies adopted by key players to capitalize on the strong market potential.

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By function, the biocontrol segment is estimated to account for the largest market share, in terms of value

The product portfolio of major companies operating in the agricultural biologicals market is more focused on biocontrols due to the high demand for bioinsecticides and biofungicides for integrated pest management in developed countries. The major advantages of integrated pest management are that these are usually inherently less or not toxic than others affecting only the target pest and closely related organisms, effective in micro-quantities, and quickly kill.

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 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.

By crop type, the fruits & vegetable segment is projected to be the fastest-growing in the agricultural biologicals market during the forecast period

The rise in demand for organic fruits & vegetables has led to a rise in the usage of biocontrol products to increase the yield. Biostimulants are proven to increase crop yield and improve the shape and size of fruits. Fruits and vegetables are also subject to post-harvest losses. The usage of biostimulants also increases the shelf life of crops, such as tomatoes, apples, grapes, and mangoes.

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The increasing demand for biopesticides in the North American region is projected to drive the growth of the agricultural biologicals market

The North American region accounted for the largest share of the market in 2018. 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.

Key Market Players

Key players in the market include BASF SE (Germany), Syngenta (Switzerland), Marrione Bio Innovation (US), Isagro (Italy), UPL (India), Evogene (Israel), Bayer (Germany), and Vegalab (US).

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