Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The "Agricultural Biologicals Market, 2023-2035: Distribution by Type of Product, Source of Product, Mode of Application, Type of Crop Treated and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035" report has been added to ResearchAndMarkets.com's offering.
The global agricultural biologicals market, encompassing biopesticides, biofertilizers, and biostimulants, is set to achieve a valuation of $13.76 billion in 2023, with a projected compound annual growth rate (CAGR) of 9.98% during the forecast period. This growth is attributed to the rising demand for organic food products and a growing emphasis on sustainable agriculture practices.
Agricultural biologicals, derived from natural sources such as microorganisms, plant extracts, and beneficial insects, play a pivotal role in enhancing soil fertility, biological activity, and plant growth. These environmentally friendly products leave no harmful residues in the ecosystem and reduce risks associated with chemical pesticides and fertilizers. They are integral to sustainable agriculture and organic food production, countering the negative impact of decades of chemical-intensive farming practices.
Key Market Insights:
- Sustainable Farming Driving Growth: Agricultural biologicals, including biopesticides, biofertilizers, and biostimulants, offer multiple benefits for sustainable farming, leading to a shorter product development timeline, higher biological efficiency, and versatile application methods. The increase in demand for sustainable farming practices globally and organic food production is expected to drive significant market growth.
- Competitive Landscape: The agricultural biologicals market features over 200 companies offering a wide range of biologic crop solutions. The market is fragmented, with various company sizes, including small, mid-sized, large, and very large players. Prominent manufacturing hubs are located in Asia Pacific, particularly in India and China. Key players such as Syngenta Ag, Bayer Ag, BASF SE, and Marrone Bio Innovations provide microbial biopesticides for diverse crops.
- Partnerships and Collaboration: Stakeholders in the industry have forged partnerships to strengthen their agricultural biologicals portfolios and expand their product reach. Over 70% of these partnerships have been established since 2021, focusing on biopesticide distribution, product development, and acquisitions.
- Rising Patent Activity: Over 1,300 patents related to agricultural biologicals have been filed in the last five years (2019-2023), signifying significant efforts in the biologic crop solutions industry. PI Industries, BASF SE, and Monsanto are among the top patent filers in this field.
- Market Segment: Biopesticides are expected to hold the largest market share in the agricultural biologicals market during the forecast period. Currently, approximately 55% of the market is captured by companies offering biological crop solutions suitable for foliar sprays.
- Regional Analysis: North America and Europe collectively hold nearly 60% of the market share in the agricultural biologicals market. However, Asia Pacific is anticipated to grow at a higher CAGR in the coming years, driven by increased demand for organic food products.
Key Players in the Agricultural Biologicals Market include AMVAC, Andermatt, BASF SE, Bayer AG, Certis Biologicals, Corteva Agriscience, Chr. Hansen, FBSciences, Koppert Biological Systems, Lallemand, Marrone Bio Innovations, Novozymes, Stoller, Syngenta AG, UPL, Vegalab, Valent Biosciences, and Verdisian Life Sciences.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Economic and Other Project Specific Considerations
3.1. Chapter Overview
3.2. Market Dynamics
3.2.1. Time Period
3.2.1.1. Historical Trends
3.2.1.2. Current and Forecasted Estimates
3.2.2. Currency Coverage
3.2.2.1. Overview of Major Currencies Affecting the Market
3.2.2.2. Impact of Currency Fluctuations on the Industry
3.2.3. Foreign Exchange Impact
3.2.3.1. Evaluation of Foreign Exchange Rates and their Impact on Market
3.2.3.2. Strategies for Mitigating Foreign Exchange Risk
3.2.4. Recession
3.2.4.1. Historical Analysis of Past Recessions and Lessons Learnt
3.2.4.2. Assessment of Current Economic Conditions and Potential Impact on the Market
3.2.5. Inflation
3.2.5.1. Measurement and Analysis of Inflationary Pressures in the Economy
3.2.5.2. Potential Impact of Inflation on the Market Evolution
4. Executive Summary
5. Introduction
6. Market Landscape
7. Company Competitiveness Analysis
8. Company Profiles
9. Partnerships and Collaborations
10. Patent Analysis
11. Porter's Five Forces Analysis
12. Market Impact Analysis: Drivers, Restraints, Opportunities and Challenges
13. Global Agricultural Biologicals Market
14. Agricultural Biologicals Market, by Type of Product
15. Agricultural Biologicals Market, by Source of Product
16. Agricultural Biologicals Market, by Mode of Application
17. Agricultural Biologicals Market, by Type of Crop Treated
18. Agricultural Biologicals Market, by Geography
19. Conclusion
20. Executive Insights
For more information about this report visit https://www.researchandmarkets.com/r/a38byj
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