Increasing pest resistance to specific products and rising awareness regarding harmful effects of synthetic plant protection products are major factors driving revenue growth of the market
Market Size – USD 8.9
Billion in 2020, Market Growth – at a CAGR of 13.5%, Market Trends –Rising
demand for high quality yield from farm produce
The global Agricultural
Biologicals Market size is expected to reach USD 27.6 Billion by 2028
and register a CAGR of 13.5% over the forecast period, according to a latest
report by Reports and Data. Rising preference for various types of organic
products, rapid adoption of biologicals in farming and agriculture, increasing
awareness regarding the harmful effects of synthetic plant protection products,
and high development costs of various synthetic crop protection products are
some major factors support market revenue growth.
Agricultural biologicals are derived from natural sources
such as plant extracts, microorganisms, beneficial insects, and other organic
matter. They generally do not leave any harmful residue on crops, and are
considered safe. Rising awareness among farmers regarding benefits of
biologicals has augmented e demand for these products, which is contributing
significantly market revenue growth. Increasing applications of agricultural
biologicals in various developing countries is expected to open up high revenue
opportunities for various players in the market between 2021 and 2028.
However, various environmental concerns and cost related
issues are hamper growth of the agricultural biologicals market to a certain
extent going ahead.
Major companies operating in the market are Syngenta
(Switzerland), BASF SE (Germany), Marrione Bio Innovation (US), UPL (India),
Isagro (Italy), Evogene (Israel), Vegalab (US), and Bayer (Germany).
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Some key findings from the report
- The
biopesticides segment accounted for a significant revenue share in the
market and is expected to continue its dominance over other segments in
this category during the forecast period. This can be attributed to rising
use of biopesticides instead of a variety of conventionally used and
potentially harmful chemical-based pesticides and fertilizers.
- Based
on application, the market has been segmented into oilseeds & pulses,
cereals & grains, and fruits & vegetables. The cereals &
grains segment revenue has been steady, owing to these being on staple
diets among consumers across the globe, and this trend is expected to
continue over the forecast period.
- Rising
demand for various types of organic products worldwide, enhanced
productivity and improving crop yield, rising costs of fertilizers and
pesticides, and increasing global population are factors driving growth of
the market.
- Asia
Pacific market is predicted to experience significant revenue growth going
ahead, owing to increasing need for organic food products and government
initiatives to promote better environment.
To identify the key
trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/agricultural-biologicals-market
For the purpose of this report, Reports and Data has
segmented the global agricultural biologicals market on the basis of function,
product type, mode of application, crop type, and region:
Function Outlook (Revenue, USD Billion, 2018 - 2028)
- Crop
protection
- Biocontrol
- Crop
enhancement
- Biofertilizers
- Biostimulants
Product Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Microbials
- Macrobials
- Semiochemicals
- Natural
products
Mode of Application Outlook (Revenue, USD Billion, 2018 -
2028)
- Foliar
spray
- Soil
treatment
- Seed
treatment
Crop Type Outlook (Revenue, USD Billion, 2018
- 2028)
- Cereals
& grains
- Oilseed
& pulses
- Fruits
& vegetables
- Other
crop types
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North
America
- Europe
- Asia-Pacific
- MEA
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