Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- 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 2028" report has been added to ResearchAndMarkets.com's offering.
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
The market for agriculture biologicals has been experiencing significant growth in recent years due to several factors. One of the key drivers is the increasing demand for sustainable agricultural practices and the need to reduce the use of synthetic chemicals in farming. Agriculture biologicals offer a more environmentally friendly alternative, as they are typically biodegradable and have minimal negative impact on ecosystems.
Another factor contributing to the growth of the agriculture biologicals market is the rising awareness among farmers about the benefits of these products. They can improve crop yields, enhance nutrient uptake, stimulate plant growth, and provide natural protection against pests and diseases.
Additionally, agriculture biologicals can help in improving soil health and promoting overall sustainable farming practices. The market for agriculture biologicals encompasses a wide range of products, including biopesticides, biofertilizers, biostimulants, and other microbial-based products. Biopesticides are used for pest and disease management, while biofertilizers help in enriching the soil with beneficial nutrients. Biostimulants, on the other hand, are used to enhance plant growth and development.
Bionematicides market to grow at the highest rate during the forecast period.
The bionematicides market is projected to experience the highest growth rate during the forecast period. Bionematicides are a type of biopesticide specifically formulated to control and manage nematode infestations in agriculture. Nematodes are microscopic worms that can cause significant damage to crops by feeding on plant roots, impairing nutrient uptake, and transmitting diseases. Several factors contribute to the anticipated growth of the bionematicides market.
First and foremost, there is a growing concern regarding the environmental and health impacts of conventional chemical nematicides. These chemical-based solutions often persist in the soil, leading to water contamination and detrimental effects on non-target organisms.
Biocontrols market to be the largest subcategory market among agricultural biologicals during the forecast period.
The biocontrols market is projected to emerge as the largest subcategory market within the agriculture biologicals sector during the forecast period. Biocontrols refer to the use of beneficial living organisms or natural substances derived from them to manage pests, diseases, and weeds in agriculture. They offer an environmentally friendly and sustainable alternative to conventional chemical pesticides and herbicides.
Furthermore, increasing regulatory restrictions on conventional pesticides are driving the adoption of biocontrols. Many countries are implementing stricter regulations and phasing out the use of certain chemical pesticides due to their negative environmental impacts. This regulatory environment creates a favorable market landscape for biocontrols to gain prominence and market share.
In the biostimulants market, Europe is estimated to be the largest market in 2023.
Several factors contribute to Europe's dominance in the biostimulant market. Firstly, Europe has a strong focus on sustainable agriculture and environmental stewardship. The region has witnessed a significant shift towards organic farming practices and the reduction of chemical inputs in agriculture.
Biostimulants align well with these sustainable farming goals, as they offer a natural and eco-friendly approach to crop enhancement. Additionally, Europe has a favorable regulatory framework for biostimulants. The European Union (EU) has established specific regulations and guidelines for biostimulant products, ensuring their safety and efficacy. This regulatory clarity provides confidence to manufacturers and farmers, facilitating the development, registration, and commercialization of biostimulant products in the region.
The top trends in the agricultural biologicals market are segmented market-wise, with a detailed analysis of each market by studying the individual competitive landscapes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 356 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $14.7 Billion |
| Forecasted Market Value (USD) by 2028 | $27.9 Billion |
| Compound Annual Growth Rate | 13.7% |
| Regions Covered | Global |
Premium Insights
- Shift Toward Sustainable Agriculture to Drive Market Growth
- Biocontrols: Largest Segment in Market
- Biocontrol Estimated to Dominate Agricultural Biologicals Market in 2023
- Europe to Account for Largest Market Share for Biostimulants in 2023
Macroeconomic Indicators
- Increase in Organic Agricultural Farm Areas
Growing Demand from Organic Food Industry
High Costs Associated with Development of Synthetic Crop Protection Products
Climate Change and Increase in Abiotic Stresses on Plants
Market Dynamics
- Drivers
- Initiatives by Government Agencies and Increasing Awareness of Sustainability in Modern Agriculture
- Regulatory Pressures and Harmful Effects Associated with Synthetic Plant Protection Products
- Growing Preference for Organic Products
- Limited Entry Barriers Resulting in Entry of Several Players
- Hazards of Using Chemical Fertilizers
- Strong Demand for High-Value Cash Crops
- Crop Losses Due to Pest Attacks
Restraints
- Technological and Environmental Constraints in Use of Biologicals
- Poor Infrastructure & High Initial Investment
- Commercialization of Low-Quality Biological Products
- Short Shelf-Life of Biopesticides
Opportunities
- Advancements in Microbial Research
- New Target Markets: Asia-Pacific & Africa
- Need for Development of Broad-Spectrum Formulations in Agricultural Biologicals
- Rapid Growth in Biocontrol Seed Treatment Solutions
Challenges
- Lack of Awareness & Low Adoption Rate of Biologicals
- Supply of Counterfeit and Less-Effective Products
- Prevalence of Uncertainty on Regulatory Framework of Agricultural Biologicals
- High Preference for Agrochemicals Among Farmers
Companies Mentioned
- BASF SE (Germany)
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- Novozymes (Denmark)
- UPL (India)
- Corteva Agriscience (US)
- FMC Corporation (US)
- Pro Farm Group Inc. (US)
- Lallemand Inc. (Canada)
- Vegalab SA (Switzerland)
- Valent BioSciences LLC (US)
- Koppert (Netherlands)
- Stockton bio-ag (Israel)
- IPL Biologicals Limited (India)
- Certis USA LLC (US)
- Gowan Company (US)
- Kan Biosys (India)
- Symborg (Spain)
- Rizobacter (Argentina)
- Biomax Naturals (Mumbai)
- Biobest Group NV (Belgium)
- AgriLife (India)
- Haifa Negev Technologies Ltd (Israel)
- Pivot Bio (California)
- Precision Laboratories LLC (US)
For more information about this report visit https://www.researchandmarkets.com/r/yf7hc4
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