Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Global Agricultural Biologicals Market by Function, Product Type (Microbials, Macrobials, Semiochemicals, Natural Products), Mode of Application (Foliar Spray, Soil & Seed Treatment), Crop Type (Cereals & Grains, Fruits) & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global agricultural biologicals market is projected to reach USD 27.9 billion by 2028 from USD 14.6 billion by 2023, at a CAGR of 13.8% during the forecast period in terms of value. The agricultural biologicals market comprises of biofertilizers, biopesticides, beneficial insects and biostimulants.
The increasing consumer awareness and preference for organic and sustainable food fuel the market demand for agricultural biologicals. However, the higher production costs and limited scalability of agricultural biologicals can present challenges in terms of affordability and market competitiveness. Nevertheless, governments' implementation of stricter regulations on chemical pesticides encourages the adoption of safer alternatives, providing opportunities for the agricultural biological market.
By mode of application, Foliar spray is projected to be in high demand during the forecast period
The compatibility of foliar application with other agricultural practices, such as fertilization, disease management, and pest control, enables farmers to seamlessly integrate agricultural biologicals into their existing spray programs. This integration enhances the overall effectiveness and efficiency of crop management practices. The foliar spray offers a targeted and precise method of applying agricultural biologicals, enabling direct contact between the biological agents and the target pests or pathogens. This direct contact maximizes the effectiveness of the biological solutions, optimizing their impact on pest and disease control. Owing to these factors, the segment is projected to grow at the highest CAGR.
By crop type, Cereals & Grains is expected to dominate the market for agricultural biologicals
Agricultural biologicals provide effective and sustainable solutions for managing pests and diseases in cereals and grains, which are vulnerable to various pests and diseases that can negatively impact yield and quality. By utilizing agricultural biologicals, farmers can reduce their dependence on chemical pesticides. Additionally, biological products like biofertilizers and microbial inoculants improve the availability and uptake of nutrients in cereals and grains. They enhance soil fertility, promote nutrient cycling, and boost the plants' ability to absorb vital nutrients, resulting in improved crop health and increased productivity.
South America will significantly contribute toward market growth during the forecast period
The South American region, comprising Brazil, Argentina, and the Rest of South America (including Chile, Peru, and Venezuela), witnesses the cultivation of key crops such as cereals, corn, legumes, and soybeans across tropical, sub-tropical, and temperate climatic areas. Over time, inappropriate agricultural practices and excessive use of fertilizers and technology have led to soil degradation, prompting many farmers to adopt organic farming practices. A significant portion of land in the region is dedicated to organic farming, predominantly owned by small and local farmers. Various Latin American countries, including Argentina, Brazil, and Colombia, are expanding their production of biofertilizers and biological control agents. Incentive programs and regulatory changes are encouraging the use of biological inputs in agriculture. Moreover, these countries are focusing on diversifying crop varieties among small-scale farmers through organic farming strategies.
The increasing focus on organic farming and sustainable practices in the South American region drives the demand for agricultural biologicals as preferred inputs. Farmers are actively seeking biological solutions for pest and disease management, nutrient supplementation, and soil health improvement, presenting a lucrative market opportunity for manufacturers and suppliers of agricultural biologicals. Additionally, governments in South American countries are implementing incentive programs and regulatory changes to encourage the adoption of biological inputs in agriculture. These initiatives provide valuable support and incentives for farmers, leading to market growth and greater acceptance of agricultural biologicals.
Premium Insights
- Shift Toward Sustainable Agriculture Driving Market Growth
- Biocontrol Segment Accounted for Largest Share of North American Agricultural Biologicals Market in 2022
- North America to Dominate Agricultural Biologicals Market from 2023 to 2028 (USD Million)
- Europe to Grow at Significant CAGR from 2023 to 2028 (Kt)
- Biocontrol Segment Estimated to be Largest Throughout Forecast Period (USD Million)
- Microbial-based Agricultural Biologicals Estimated to be Largest Segment During Forecast Period (USD Million)
- Europe Estimated to Hold Largest Share in Foliar Spray Application During Forecast Period (USD Million)
- Brazil, US, and France Projected to Grow at High Rates During Forecast Period
Market Dynamics
Drivers
- Regulatory Pressures and Harmful Effects Associated with Synthetic Plant Protection Products
- Rise in Resistance Development in Various Pest and Insect Species to Drive Consumption of Natural Biocontrol Protection in Agriculture
- Rising Trend for Organically Produced Foods Among Consumers to Drive Demand for Biologicals
Restraints
- Technological and Environmental Constraints for Use of Biologicals
- Absence of Well-Constructed Marketing Routes and Surrounding Infrastructure
Opportunities
- Advancements in Microbial Research Undertaken by Key Players Across Regions
- Increasing Importance of Sustainable Food Production Globally
Challenges
- High Preference for Agrochemicals Among Farmers Across Regions
- Presence of Counterfeit Products in Market Across Regions
Company Profiles
Key Players
- BASF SE
- Syngenta AG
- Bayer AG
- UPL
- Corteva Agriscience
- The Mosaic Company
- Pro Farm Group Inc.
- Gowan Company
- Vegalab SA
- Lallemand Inc.
- Valent Biosciences LLC
- Koppert
- Sustainable Agro Solutions, SAU.
- Trade Corporation International
- STK Bio-AG
Startups/SMEs/Other Players
- Biolchim S.p.A.
- Rizobacter
- Bionema
- Certis Biologicals
- Biobest Group NV
- Verdesian Life Sciences
- AXEB Biotech SL
- Pivot Bio
- Andermatt Group AG
- Biotalys
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 349 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $14.6 Billion |
| Forecasted Market Value (USD) by 2028 | $27.9 Billion |
| Compound Annual Growth Rate | 13.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6s5fl9
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