With the
incidence of pest outbreaks on the rise, the global agricultural biologicals
market is expected to reach US$ 20.59 billion
by 2026. The market stood at US$ 7.42 billion
in 2018. The market will therefore rise at an impressive CAGR of 13.68% between 2019 and 2026. Fortune Business Insights™ shares its
findings in its report, titled, “Agricultural Biologicals Market Size, Share and Global Trend By Type (Biopesticides,
Biofertilizers, Biostimulants), Source (Microbial, Biochemicals), Mode of
Application (Foliar Spray, Seed Treatment, Soil Treatment), Crop Type (Cereals,
Oilseeds, Fruits & Vegetables, Turf & Ornamentals) & Geography
Forecast till 2026”. The report also incorporates an in-depth
analysis of the probable market trends and the factors that will influence the
market.
Agricultural
biologicals refer to a group of products derived using natural sources such as
plant extracts, selected insects, and microorganisms such as fungi and
bacteria. The most commonly used biologicals in agriculture include
bio-fertilizers, bio-stimulants, and bio-pesticides.
A List of Renowned Companies Operating in the Global Market:
- BASF SE
- Syngenta AG
- Bayer CropScience
- UPL
- Marrone Bio Innovations
- Valent Biosciences
- Koppert Biological Systems
- Isagro S.p.A
- Valagro S.p.A
- Novozymes A/S
- Other key players
 |
| Get Sample PDF Brochure |
DRIVING FACTORS-
Increasing Environmental Concerns to Spur the
Adoption Rates of Biologicals
According to
the FAO, agricultural biologicals possess a variety of agronomic and
environmental advantages. For example, regular infusion of crop residue
increases the organic content of the soil, improves soil quality and structure,
and aids water conservation. The cumulative effect is enhanced productivity in
quantitative and qualitative terms, which bodes well for the global
agricultural biologicals market. Quality yields have taken high priority as
chemical fertilizers and pesticides are known to diminish the nutritional value
of foodstuffs. Environmental benefits, closely linked to the economics of
biologicals, are manifold. For example, sustainable agricultural practices can
increase biodiversity in soils, enhance carbon sequestration capabilities of
soil, improve air quality, and prevent unnatural soil erosion.
Rising Demand for Better Quality Farm Yields
to Drive the Market
The global
agricultural biologicals market growth is set for a major upsurge owing to the
climbing demand for naturally-extracted productivity-enhancing products. These
biologicals entail a host of economic benefits. For example, a study conducted
by the Food and Agriculture Organization in Lesotho showed that conservation
agriculture, wherein biologicals are a key component, has greater efficiency as
high output levels are achieved with lower inputs. There was also a marked
increase in agricultural yields where biologicals were employed. Thus, economic
feasibility of biologicals will boost the global agricultural biologicals
market revenue.
Read a Detailed Summary of This Report:
RESTRAINING FACTORS-
Considerable Disadvantages to Mar the Market
The global
agricultural biologicals market is expected to encounter roadblocks as organic
farming suffers from certain cons. For example, in the long-term, soil
fertility starts declining as it loses its capacity to convert organic matter
into energy. In the end, the farmer has to rely on chemical fertilizers to
maintain soil fertility. This can be a major hindrance for the global
agricultural biologicals market during the forecast period.
REGIONAL INSIGHTS-
Legislative
Support to Boost the Market in North America
Passing of laws such
as the recent Pesticide Registration Improvement Extension Act of 2018 (PRIA 4)
is expected to swell the global agricultural biologicals market size in North
America. Similar efforts at effective regulation of biological products in the
agricultural landscape is expected in Europe, which will put it close at heels
with North America in terms of market share and revenue. Together, the two
regions currently hold 60% of the global agricultural biologicals market share.
COMPETITIVE
LANDSCAPE-
Innovations and Acquisitions to Intensify
Competition
Investing in
innovation and acquiring companies to expand presence in the global
agricultural biologicals market are emerging as the key strategies being
adopted by the participants. For example, in July 2019, the Dutch company,
Koppert Biological Systems, acquired Argentina-based Nitrasoil to mark its
entry into South America and diversify its portfolio by including inoculants in
its product range. In 2018, Bayer developed Serenade ASO, a biological crop
protection product that can fight bacterial and fungal crop diseases.
Read Press Release: https://www.fortunebusinessinsights.com/press-release/agricultural-biologicals-market-9251
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With increasing awareness about sustainable agriculture practices and rising consumer demand for high-quality farm produce, it is expected that the agricultural biologicals market will continue to grow at an impressive rate. Industry players are investing heavily in research and development activities to develop innovative solutions that address specific crop challenges while minimizing environmental impact. Click here
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