NEW YORK, Dec. 5, 2023 /PRNewswire/ — The agricultural biologicals market size is set to grow by USD 10.45 billion from 2022 to 2027. The market is estimated to register a CAGR of 14.24%, according to Technavio’s latest market research report estimates. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Agrinos AS, Andermatt Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance, Evogene Ltd., Gowan Co., Koppert, Marrone Bio Innovations Inc., Mitsui and Co. Ltd., Novozymes AS, PI Industries Ltd., SEIPASA SA, SOM Phytopharma India Ltd., Syngenta Crop Protection AG, T.Stanes and Co. Ltd., UPL Ltd., Valent BioSciences LLC, Vegalab SA, and PROBELTE SAU are some of the major market participants. The increasing prices of chemical fertilizers and pesticides, increasing governmental support for the use of bio-based products in agriculture and growing organic food products market will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends, drivers, and the overall market environment. Read our Sample Report
The report also covers the following areas:
Agricultural Biologicals Market 2023-2027: Segmentation
The Agricultural Biologicals Market is segmented as follows:
- 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
The market share growth by the biopesticides segment is significant during the forecast period. Biopesticides are pesticides made from natural substances such as plants, bacteria, fungi, and specific minerals. Their level of toxicity is lower compared to that of traditional pesticides. Canola oil and baking soda are two examples of such efficient biopesticides. Hence, such factors drive segment growth during the forecast period.
Agricultural Biologicals Market 2023-2027: Vendor Analysis and Scope
To help businesses improve their market position, the agricultural biologicals market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include Agrinos AS, Andermatt Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance, Evogene Ltd., Gowan Co., Koppert, Marrone Bio Innovations Inc., Mitsui and Co. Ltd., Novozymes AS, PI Industries Ltd., SEIPASA SA, SOM Phytopharma India Ltd., Syngenta Crop Protection AG, T.Stanes and Co. Ltd., UPL Ltd., Valent BioSciences LLC, Vegalab SA, and PROBELTE SAU.
Vendor Offerings
- Agrinos AS – The company offers agricultural biologicals such as iNvigorate.
- Andermatt Group AG – The company offers agricultural biologicals such as AlgoVital Plus and T-Gro.
- BASF SE – The company offers agricultural biologicals such as Nemasys C.
Market trends such as increased awareness and product knowledge of biostimulants are likely to emerge as one of the primary drivers of the market. However, factors such as a lack of awareness of agricultural biologicals may threaten the growth of the market.
Agricultural Biologicals Market 2023-2027: Market Dynamics
Key Drivers
- The increasing governmental support for the use of bio-based products in agriculture is a significant driving factor for market growth.
- The growing need for sustainable agricultural techniques leads to the adoption of bio-based products by farmers.
- Globally, there are various initiatives to encourage the use of bio-based products in agriculture. International organizations, which include the Food and Agriculture Organization, frequently fund these programs.
- Additionally, governments in various countries give farmers discounts on bio-based products and they are involved in quality control and make sure that agricultural producers receive high-quality bio-based products.
- Hence, such factors drive the market growth during the forecast period.
Significant Trends
- Increasing product launches is an emerging trend in the agricultural biologicals market growth.
- Farmers are growingly in need of agricultural biologicals, particularly biopesticides, and biostimulants, to reduce crop damage from pest infestations and boost crop production.
- In addition, the shrinkage of arable land in many nations, particularly in APAC and North America, has an impact on the demand for biopesticides.
- These factors have pushed numerous vendors to diversify their product offerings by releasing new agricultural biological variants.
- Vendors benefit from product launches by growing their clientele and market share in the global market.
- Hence, such trends fuel the market growth during the forecast period.
Major Challenges
- The availability of synthetic pesticides and herbicides is a major challenge that may hinder market growth.
- Vendors make significant investments in new classes for the development of synthetic pesticides and herbicides that are better suited for the growth of plants.
- The majority of contemporary herbicides are designed to break down quickly after application.
- Crops such as cereals, grains, fruits, vegetables, oilseeds, and pulses are among the various types of crops that receive applications of synthetic pesticides and herbicides.
- Hence, such challenges impede market growth during the forecast period.
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Agricultural Biologicals Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist agricultural biologicals market growth during the next five years
- Estimation of the agricultural biologicals market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the agricultural biologicals market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of agricultural biologicals market vendors
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TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by Application
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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