Tokyo, Japan, April 28, 2023 (GLOBE NEWSWIRE) -- Agricultural Biological Market Overview:
The global agricultural biological market is expected to experience significant growth over the next few years, according to a Comprehensive Research Report by Market Research Future (MRFR), “The report, titled "Agricultural Biological Market Information by Type, Source, Mode of Application, Crop Type, and Region- Forecast till 2030," reveals that the market is projected to reach a value of USD 17.9 billion by 2030, at a compound annual growth rate (CAGR) of 12.2% during the forecast period.
Drivers and Challenges:
The agricultural biological market is witnessing significant growth due to the increasing demand for sustainable agriculture practices and the growing trend of organic farming. The use of agricultural biologicals helps in improving soil health and reducing the use of synthetic fertilizers and pesticides, which is driving the demand for these products.
However, the high cost of agricultural biologicals and the lack of awareness about their benefits among farmers are some of the key challenges faced by the market.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 17.9 Billion |
| CAGR | 12.2% (2023–2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 - 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Operating Platforms, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Demand from Agricultural Economies such as China, Japan, Thailand, and Indonesia |
| Increasing Multiple Microbiological Advancements |
Key Players:
The report profiles some of the key players in the global agricultural biological market, including
- BASF SE
- Bayer AG
- Chr. Hansen Holding A/S
- DowDuPont Inc.
- Novozymes A/S
- Syngenta AG
- Marrone Bio Innovations Inc.
- Isagro S.p.A.
- Koppert Biological Systems and
- Certis USA LLC.
Market Segmentation:
The market research report from MRFR provides a comprehensive analysis of the global agricultural biological market based on product type, source, application, and region. Based on product type, the market is segmented into biopesticides, biofertilizers, and biostimulants. Of these, the biopesticides segment is expected to account for the largest share of the market during the forecast period.
Based on source, the market is segmented into microbials, biochemicals, and others. The microbials segment is expected to dominate the market during the forecast period due to its wide range of applications in crop protection and soil improvement.
Based on application, the market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. The cereals and grains segment is expected to witness significant growth during the forecast period due to the increasing demand for food products.
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Regional Analysis:
The report also provides a detailed analysis of the agricultural biological market across various regions, including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to account for the largest share of the market during the forecast period, followed by Europe and Asia-Pacific.
Industry Trends:
The agricultural biological market is witnessing significant growth due to the increasing adoption of sustainable agriculture practices and the growing trend of organic farming. Key players in the market are focused on developing new products and technologies to cater to the growing demand from farmers.
Browse In-depth Market Research Report (90 Pages) on Agricultural Biologicals Market: https://www.marketresearchfuture.com/reports/agricultural-biologicals-market-6629
Recent Developments:
Agricultural Biological Market Experiencing Innovative Developments
The global agricultural biological market is experiencing innovative developments from key players, according to recent market research conducted by Market Research Future. The use of agricultural biologicals helps in improving soil health and reducing the use of synthetic fertilizers and pesticides, which is driving the demand for these products.
In recent developments, BASF SE announced the acquisition of Lallemand Inc.'s bioinoculant business, which will help the company to strengthen its position in the agricultural biological market. In June 2022, Marrone Bio Innovations Inc. announced the launch of its new biological fungicide, Stargus, which helps in controlling various fungal diseases in crops.
In August 2022, Syngenta AG announced the launch of its new biological product, Taegro 2 Biofungicide, which helps in controlling a wide range of fungal diseases in crops. These developments indicate the growing focus on developing new products and technologies to cater to the growing demand from farmers.
The agricultural biological market is witnessing significant growth due to the increasing adoption of sustainable agriculture practices and the growing trend of organic farming. Key players in the market are focused on developing new products and technologies to cater to the growing demand from farmers.
In conclusion, the global agricultural biological market is experiencing innovative developments from key players to cater to the growing demand for sustainable agriculture practices and the trend of organic farming.
Conclusion:
In conclusion, the global agricultural biological market is expected to experience significant growth over the next few years, driven by the increasing demand for sustainable agriculture practices and the growing trend of organic farming. The market is expected to witness significant growth in North America, followed by Europe and Asia-Pacific.
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