Chicago, May 31, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the “Top Trends in the Agricultural Biologicals Market by Agricultural Biologicals, Biocontrols, Bio fungicides, Bioinsecticides, Bio nematicides, Biostimulants, Biofertilizers, Inoculants, Pheromones, Biological Seed Treatment - Global Forecast to 2026”, is estimated to account for nearly USD 10.6 billion in 2021 and is projected to reach a value of nearly USD 18.5 billion by 2026, growing at a CAGR of 11.9% from 2021.
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The adoption of agricultural biologicals also offers various economic benefits and enhanced integrated pest management solutions. Agricultural biologicals help in addressing concerns about the environmental impacts of agricultural practices such as the use of chemical fertilizers and pesticides adopted today. The growing consumer preference for organic food products and increased need for agricultural sustainability are some of the other factors that are projected to drive the growth of this market.
The biocontrol segment is estimated to account for the largest share in the agricultural biologicals market in 2022.
Biocontrol products are known to improve the quality and yield of agricultural produce by protecting crops. These are completely natural and hence do not harm the environment. Biocontrol products are eco-friendly alternatives to chemical pesticides. Increased awareness among end-users regarding the residue levels of pesticides in food and the increased pest resistance to conventional crop protection chemicals are some of the key factors supporting the growth of the agricultural biologicals market. The Biocontrol market is projected to grow at a CAGR of 15% during the forecast period.
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The North America is estimated to dominate the agricultural biologicals market in 2022
North America and Europe accounted for a major share of the agricultural biologicals market. The agricultural biologicals market is projected to grow at a CAGR of 11.9% during the forecast period. The shift toward sustainable agriculture and stringent government regulations pertaining to the use of chemical-based products are some of the factors driving the growth of the agricultural biologicals market in North America.
Partnerships, agreements, and contracts are the key strategies adopted by industry players to achieve growth in the agricultural biologicals market. An increasing trend of companies entering into alliances and contracts is expected, in the near future, to take advantage of the synergies the companies provide in the agricultural biologicals market.
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Key Players:
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the agricultural biologicals market. The key players in this market include Companies, such as Syngenta AG (Switzerland), Corteva Agriscience (US), Bayer AG (Germany), and BASF SE (Germany) are the key companies operating in the market. Marrone Bio Innovations, Inc. (US), Stockton Group (Israel), and Isagro S.p.A. (Italy).
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