Global Agricultural Biologicals Market Outlook Report 2023: A $16.19 Billion Market by 2028 – Biopesticides Lead the Market with Innovative Pest Control Solutions
Dublin, Oct. 17, 2023 (GLOBE NEWSWIRE) — The “Agricultural Biologicals Market – Global Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global agricultural biologicals market is expected to reach a value of $16.19 billion by 2028 from $9.5 billion in 2022, growing at a CAGR of 9.27% from 2022 to 2028
Prominent manufacturers operating in the global agricultural biologicals market place a strong emphasis on continuous product innovation, strategic partnerships, mergers and acquisitions, and collaborative efforts to expand their customer base while optimizing distribution costs effectively.
Companies like Bayer CropScience and BASF SE are strategically integrating their operations across the entire value chain to maintain their market leadership positions. Conversely, new entrants in the agricultural biologicals market prioritize the establishment of long-term contracts with local and regional farming communities as a means to strengthen their presence in the industry.
The increasing demand for organic farming is being driven by its environmental benefits. Organic farming practices contribute to the reduction of soil and groundwater contamination by eliminating the use of chemical fertilizers and pesticides.
Furthermore, organic farming requires fewer non-renewable resources compared to conventional methods and fosters the preservation of soil biodiversity. A report by the Columbia Climate School in February 2020 highlighted that organic farming promotes 30% more biodiversity, consumes 45% less energy, and emits 40% less carbon compared to conventional farming practices.
The agricultural sector plays a vital role in the global economy by providing employment to a substantial portion of the workforce in numerous countries. However, conventional farming practices characterized by intensive use of synthetic fertilizers and pesticides, monoculture, and large-scale industrial farming have had adverse effects on the environment, public health, and food security worldwide. Sustainable agriculture has emerged as a viable solution to address these challenges.
Sustainable agriculture offers a pathway toward a more resilient, equitable, and environmentally sustainable food system that benefits all stakeholders. It has become increasingly important in the face of climate change, which has resulted in unpredictable weather patterns, increased soil degradation, and declining groundwater levels, presenting significant challenges to farmers in meeting the growing food demands of a rapidly expanding population.
North America has established itself as the leader in the global agricultural biologicals market, capturing a substantial market share of approximately 39% in 2022. The region’s growth can be attributed to the strong presence of global agricultural product manufacturers, with a majority of producers concentrated in the United States.
Additionally, agricultural practices in North America have continuously evolved, incorporating advanced farming techniques, technological advancements, ongoing research and development efforts, and government regulations that promote sustainable farming practices. States such as North Dakota, California, Montana, Wisconsin, and New York have emerged as key players in organic cultivation within the United States.
INSIGHTS BY PRODUCT
The biopesticides product dominated the global agricultural biologicals market in 2022, holding a significant share of over 50% owing to the increasing utilization of biopesticides in soil, foliage, and turfs, particularly in North American and European countries and has contributed to its substantial market share.
Key biopesticide products include insect sex pheromones and scented plants, which attract and trap pests. Microbial pesticides, on the other hand, contain active ingredients that effectively control various pest types. Among these, microbial pesticides containing Bacillus thuringiensis strains are widely adopted due to their ability to produce a protein mix that eliminates pests.
INSIGHTS BY APPLICATION
The global agricultural biologicals market by application can be segmented as foliar spray, seed treatment, soil treatment, and post-harvest.
In 2022, the foliar spray method dominated the market, primarily due to the significant demand for biologicals in enhancing seed properties to improve crop yield. The excessive use of synthetic fertilizers and other chemical crop care products like pesticides and insecticides in recent years has led to significant degradation of soil quality in major agricultural economies.
However, governments have started implementing regulations in the agricultural sector to address the environmental hazards caused by the excessive use of chemical products in farming. This regulatory approach is expected to grow bio-fertilizer in various seed and soil applications worldwide.
INSIGHTS BY CROP TYPE
The cereals & grains crop type segment held the largest global agricultural biologicals market in 2022. The larger share can be attributed to the increasing global demand for crops such as wheat, rice, corn, barley, and millet.
Advancements in microbiology have played a crucial role in determining the appropriate composition of agricultural biologicals for wheat cultivation, leading to a high demand for biologics and driving the growth of this segment. Cultivating cereals & grains requires a significant quantity of various agricultural biologicals, particularly bio-fertilizers, for promoting healthy growth.
Studies conducted worldwide have shown that the injection of Azotobacter bacteria in cereal & grain crops reduces the nitrogen requirement of the plants and facilitates their development. Additionally, for optimal wheat growth, using phosphate solubilizing bacteria and Azotobacter inoculation has proven to be highly effective bio-fertilizers in terms of crop yield.
KEY QUESTIONS ANSWERED:
- How big is the agricultural biologicals market?
- What is the growth rate of the global agricultural biologicals market?
- What are the growing trends in the agricultural biologicals industry?
- Which region holds the most significant global agricultural biologicals market share?
- Who are the key players in the global agricultural biologicals market?
|No. of Pages||275|
|Forecast Period||2022 – 2028|
|Estimated Market Value (USD) in 2022||$9.5 Billion|
|Forecasted Market Value (USD) by 2028||$16.17 Billion|
|Compound Annual Growth Rate||9.2%|
Market Opportunities & Trends
- Emerging Organic Farming
- Emerging Demand for Quality Crop Materials
- Rising Food Demand with Growing Population
Market Growth Enablers
- Expanding Sustainable Agriculture
- Driving Growth of the Bio-Fertilizers Market
- Increasing Government Initiatives to Promote Using Biopesticides
- High Adoption of Conventional/Synthetic Fertilizers
- High Initial Cost
- Lack of Awareness of Product
Key Company Profiles
- Bayer AG
- BASF SE
Other Prominent Vendors
- 1,4Group, Inc.
- 3Bar Biologics
- Acadian Plant Health
- Adjuvants Plus Inc.
- Corteva AgriScience
- UPL Limited
- Syngenta International AG
- Atlantica Agricola
- FMA Corporation
- Certis USA LLC
- Bioworks Inc.
- Kiwa Bio-Tech Products Group Corporation
- IPL Biologicals
- Andermatt Biocontrol AG
- Valent Biosciences
- Market Opportunities
- Emerging Organic Farming
- Expanding Sustainable Agriculture
- Segmentation Analysis
- Crop Type
- Geographical Analysis
- Competitive Landscape
Russia-Ukraine War Impact on Supply Chain
- Trade Disruptions
- Transportation Challenges
- Border Control and Customer Procedures
- Supplier and Buyer Relationships
- Market Violation and Pricing
- Shifts in Production and Sourcing
Consumer Behavior Analysis
- Awareness and Knowledge
- Environmental Concerns
- Health and Safety
- Labeling and Certification
- Influence of Opinion Leaders
- Availability and Accessibility
- Research and Development
- Raw Material Sourcing
- Quality Control
- Marketing and Sales
- Application or End-user
- Monitoring and Support
- Recycling and Disposal
For more information about this report visit https://www.researchandmarkets.com/r/36i92t
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