(MENAFN - Market Press Release)July 21, 2021 12:39 pm - The increasing trend of sustainable agriculture in the global market, low residue levels, and supportive regulations are the key factors driving the growth of the agricultural biologicals market.
The agricultural biologicals market size is estimated to account for a value of USD 8.8 billion in 2019 and is projected to grow at a CAGR of 13.6% to reach a value of USD 18.9 billion by 2025. The increase in preference for organic food products across the globe has led to a surge in demand for bio-based crop protection methods, which has contributed to the growth of the agricultural biologicals market. The shift toward sustainable agriculture has also, lead to an increase in the use of agricultural biologicals globally.
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The agricultural biologicals market witnessed significant growth due to factors, such as the ban of chemical-based products by the government, increasing exports of organic food products, and degrading soil and water quality due to the continuous usage of chemical pesticides. Key players in this market include BASF SE (Germany), Syngenta (Switzerland), Marrione Bio Innovation (US), Isagro (Italy), UPL (India), Evogene (Israel), Bayer (Germany), Vegalab (US), Valent (US), Stockton (Israel), Biolchim (Italy), Rizobacter (Argentina), Valagro (Italy), Koppert Biological Systems (Netherlands), Lallemand (Canada), Symborg (Spain), Andermatt Biocontrol (Switzerland), Seipasa (Spain), and Verdasien Life Sciences (US). These major players are focusing on undertaking acquisitions and mergers to improve their presence in the agricultural biologicals market. They are focusing on introducing new and advanced technology solutions for biologicals.
By mode of application, the foliar spray segment is projected to be the fastest-growing segment in the market during the forecast period
The foliar spray is the most adopted way of applying biologicals to the plants in 2018. This is attributed to their ease of use and effectiveness. The foliar spray directly affects the leaf, which helps in the easy absorption of nutrients and trace elements. Small farmers in the Asia Pacific region generally prefer foliar sprays over soil treatment due to their cost.
By crop type, the fruits & vegetables segment is projected to be the fastest-growing in the agricultural biologicals market during the forecast period
The rise in demand for organic fruits & vegetables has led to a rise in the usage of biocontrol products to increase the yield. Biostimulants are proven to increase crop yield and improve the shape and size of fruits. Fruits and vegetables are also subject to post-harvest losses. The usage of biostimulants also increases the shelf life of crops, such as tomatoes, apples, grapes, and mangoes.
Make an Inquiry: increasing demand for biopesticides in the North American region is projected to drive the growth of the agricultural biologicals market.
The North American region accounted for the largest share of the market in 2018.The largest share of the North American region is attributed to its high-end R&D infrastructure and the high number of patents received for biopesticides and biostimulants by companies based in the region.
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