Top Trends in the Agricultural Biologicals Market to Hit

Chicago, Aug. 06, 2024 (GLOBE NEWSWIRE) -- According to a research report 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. The agricultural biologicals market is growing at a rapid pace, as it is driven by the increasing awareness about the negative environmental consequences of synthetic chemical inputs, such as pesticides and synthetic fertilizers, has led to a shift towards more sustainable alternatives. Agriculture biologicals are perceived as safer and less harmful to the environment, driving their adoption.

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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.

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.

For the overall agricultural biologicals market, North America is projected to be the fastest-growing region during the years from 2023 and 2028. One of the fastest growing trends among the top 10 trends in the agriculture biologicals market is the use of bionematicides. It is not a major market, currently, as compared to other trends such as biofungicides and bioinsecticides. The active ingredient, Paecilomyces lilacinus, has been commercially introduced in the market as bionematicides, which, when applied to the soil, is efficient in controlling nematodes and is commonly used in potato and turf & ornamentals. Key players such as BASF SE and Bayer AG are adopting strategic moves through acquisitions and expansions to improve upon nematode management and is gaining significant scope in crops such as soybean, corn, and cotton.

During the years 2022 and 2028, bioinsecticides are expected to be the second-fastest growing trend in the agriculture biologicals market. This growth can be attributed to the rise in both biotic and abiotic factors such as uncertainties in weather patterns and increased insect proliferation. The demand for biocontrol strategies, including bioinsecticides, has increased as they aid in reducing crop damage caused by insects. Bioinsecticides are becoming increasingly popular due to their effectiveness, which is comparable to conventional chemical insecticides. They are developed with innovative formulations and advanced application techniques, ensuring their efficiency in pest management. As a result, bioinsecticides are widely used in North America, where there is a growing resistance among insects towards conventional crop protection chemicals. Additionally, the expansion of organic farming practices has contributed to the increased utilization of bioinsecticides.

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