Top Trends in the Agricultural Biologicals Market worth $27.9 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, June 2, 2023 /PRNewswire/ — The Top Trends in the Agricultural Biologicals Market is projected to grow at a CAGR of 13.7% from an estimated value of USD 14.7 billion in 2023 to reach USD 27.9 billion by 2028 according to a report published by MarketsandMarkets™.
The agricultural biological market is experiencing growth due to various factors. These include a rising awareness of organic food, growing concerns about the risks associated with chemical usage, a high demand for valuable crops, increased awareness of residue levels in food, and the presence of favorable regulatory frameworks. Additionally, the adoption of agricultural biological products is playing a significant role in driving this market’s expansion.
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Bio nematicides is estimated to be the most important market trend among the top trends in agricultural biologicals market
The fastest growing trend in the agricultural biologicals market is bionematicides, which are estimated to be the most significant market trend among the top trends. Nematodes pose a serious threat to crops, causing heavy infestations and substantial losses each year. One major challenge in dealing with nematodes is finding a solution that effectively controls them without harming the plants’ growth. Bio nematicides are gaining increasing importance worldwide due to their ability to address this challenge. The application of crop protection chemicals and the use of ingredients to control nematodes are key drivers for the growth of this market segment.
Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market
Bioinsecticides are projected to stand second, in terms of the fastest-growing trends, during the forecast period from 2021 to 2026. The increasing awareness of agricultural technology and the growing incidence of pest attacks are driving the demand for bioinsecticides. Insects pose a significant threat to high-value crops like soybean, potato, corn, and tomato, leading to strong infestations. As a result, the demand for bioinsecticides is particularly high in North America. Biopesticides have gained significant adoption and popularity in North America as a sustainable and environmentally friendly alternative to conventional chemical pesticides. The region has witnessed a surge in demand for biopesticides due to increased awareness about the negative impacts of synthetic pesticides on human health and the environment. North American farmers and growers are increasingly embracing biopesticides to manage pests and diseases while minimizing their ecological footprint.
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International manufacturers in Europe and the Americas are facing intense competition as they strive to leverage the market potential in the agriculture biologicals sector.
The agricultural biologicals market in Europe and the Americas has attracted significant competition among international manufacturers. These regions offer immense market potential due to several factors, including stringent regulations on chemical pesticide use, growing consumer demand for sustainable and organic products, and government initiatives supporting environmentally friendly agricultural practices. As a result, numerous international manufacturers are striving to capitalize on these opportunities.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), Bayer AG (Germany), UPL (India), Pro Farm Inc. (US), Corteva AgriSciences (US), Valent BioSciences (US), Koppert Biological Systems (Netherlands), and Certis USA LLC (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include Valagro S.P.A. (Italy), Syngenta AG (Switzerland), Stockton Bio-AG (Israel), Valent BioSciences (US), and Rizobacter (Argentina), among others.
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