NEW
YORK, June 26, 2024 /PRNewswire/ -- The global
agricultural biologicals market size is estimated to grow by
USD 13.55 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 15.89% during the forecast period. Increasing prices of
chemical fertilizers and pesticides is driving market growth, with
a trend towards increasing use of sustainable products for plant
growth. However, lack of awareness of agricultural biologicals
poses a challenge. Key market players include Agrinos AS, Andermatt
Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance,
Evogene Ltd., Gowan Co., Koppert, Mitsui and Co. Ltd., Novozymes
AS, PI Industries Ltd., Pro Farm Group Inc., PROBELTE SAU, SEIPASA
SA, SOM Phytopharma India Ltd., Syngenta Crop Protection AG,
T.Stanes and Co. Ltd., UPL Ltd., Valent BioSciences LLC, and
Vegalab SA.
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Agricultural
Biologicals Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
15.89%
|
Market growth
2024-2028
|
USD 13558.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
13.36
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
US, Germany, France,
China, and Spain
|
Key companies
profiled
|
Agrinos AS, Andermatt
Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance,
Evogene Ltd., Gowan Co., Koppert, Mitsui and Co. Ltd., Novozymes
AS, PI Industries Ltd., Pro Farm Group Inc., PROBELTE SAU, SEIPASA
SA, SOM Phytopharma India Ltd., Syngenta Crop Protection AG,
T.Stanes and Co. Ltd., UPL Ltd., Valent BioSciences LLC, and
Vegalab SA
|
Market Driver
Agricultural biostimulants are essential products that enhance
plant growth and improve crop yields. These substances, which
include natural and synthetic compounds, microorganisms, and
plant-growth regulators, boost a plant's metabolism and increase
biomass production. Natural biostimulants, such as amino acids,
seaweeds, and bacteria, are commonly used in sustainable farming
practices for medicinal plants. The market for these biostimulants
is expected to grow significantly due to their ability to increase
crop quality and tolerance to stresses. Key components include
synthetic hormones, essential elements, inorganic salts, and
phenolic compounds.
The Agricultural Biologicals market is experiencing significant
growth due to the increasing demand for sustainable farming
solutions. Products like pesticides, fungicides, and herbicides are
essential in protecting crops from pests and diseases. New trends
include the use of biostimulants, which enhance plant growth and
improve crop yield. Additionally, the adoption of microbial-based
products is on the rise, as they offer natural and eco-friendly
alternatives to synthetic chemicals. Furthermore, the development
of precision agriculture technologies is driving the market, as
farmers can now apply these biologicals more effectively and
efficiently. Overall, the Agricultural Biologicals market is
expected to continue its growth trajectory in the coming
years.
Research report provides comprehensive data on
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Market Challenges
- The global agricultural biologicals market faces challenges due
to insufficient awareness regarding the advantages of
biofertilizers and biostimulants. In Sub-Saharan Africa, the use of
these products is low due to a lack of infrastructure, skills, and
supportive regulations. Effective regulations, governmental
support, and increased awareness are necessary to encourage
adoption. Farmers in the region remain uninformed about the
benefits of biostimulants, hindering their demand. To boost the
market, it's essential to promote awareness, enhance innovation,
and implement impactful marketing strategies.
- The Agricultural Biologicals market faces several challenges in
its procurement and application. One major challenge is the
production and availability of bioproducts like fertilizers,
pesticides, and biostimulants. Consumers and farmers require
consistent and timely supply to maintain productivity. Another
challenge is the cost-effectiveness of these biologicals compared
to synthetic alternatives. Producers must find ways to reduce
production costs while maintaining quality. Additionally,
regulatory compliance is a significant challenge. Producers must
adhere to strict regulations regarding the use and disposal of
agricultural biologicals. Lastly, the market is highly competitive,
with numerous players vying for market share. Companies must
differentiate themselves through innovation, quality, and customer
service.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This agricultural biologicals market report extensively covers
market segmentation by
- Type
- 1.1 Biopesticides
- 1.2 Biofertilizers
- 1.3 Biostimulants
- Application
- 2.1 Cereals and grains
- 2.2 Fruits and vegetables
- 2.3 Oilseeds and pulses
- 2.4 Other crops
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Biopesticides- The Agricultural Biologicals
Market is experiencing steady growth due to the increasing demand
for sustainable farming solutions. Biological products, such as
bio-pesticides and bio-fertilizers, offer farmers improved crop
yields and reduced environmental impact. Key players in this market
include BASF SE, Bayer AG, and Syngenta AG, who invest in research
and development to bring innovative solutions to market. Government
initiatives and regulations also support the use of agricultural
biologicals, making this a promising industry for future
growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Agricultural Biologicals Market encompasses the use of
chemical pesticides and sustainable alternatives, such as
Biopesticides, Microbial-based products, Plant extracts, and
Beneficial insects, in the agricultural sector. With stricter
regulations being imposed to protect the environment, there is a
growing demand for environmentally friendly solutions. Product
innovation strategies and effective marketing are crucial for
companies operating in this market, which includes industrial
sectors like fertilizers and biofertilizers, biostimulants, and
microorganisms. Sustainable agriculture is a key focus area, as
these solutions enhance soil fertility and promote biological
activity, contributing to the growth of plants. International
travel for research and development purposes is essential in this
industry, particularly in the context of agri-exports and the
decline in traditional chemical-based farming methods.
Market Research Overview
The Agricultural Biologicals Market encompasses a wide range of
products derived from living organisms or their by-products, used
to enhance crop productivity and protect against pests. These
include biological pesticides, biofertilizers, and biostimulants.
The use of agricultural biologicals is gaining popularity due to
their eco-friendly nature and minimal impact on the environment.
The market is driven by factors such as increasing global
population, the need for sustainable agriculture, and stringent
regulations against the use of synthetic fertilizers and
pesticides. The market is segmented based on product type,
application, and geography. The future outlook for the Agricultural
Biologicals Market is positive, with a significant growth rate
expected due to the increasing demand for organic and sustainable
farming practices. The market is also witnessing significant
investments in research and development to improve the efficacy and
efficiency of agricultural biologicals.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Biopesticides
- Biofertilizers
- Biostimulants
- Application
-
- Cereals And Grains
- Fruits And Vegetables
- Oilseeds And Pulses
- Other Crops
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio