DUBLIN--(BUSINESS WIRE)--The "Agricultural Biologicals Market By Product Type Source, Formulation, Mode of Application, Crop Type, and Geography - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the Agricultural Biologicals Market is expected to reach $20.81 billion by 2029, at a CAGR of 12.2% during the forecast period 2022-2029.
The growth of this market is driven by the growing organic farming & demand for organic food, growing awareness about environmental safety, rising government initiatives, and increasing investments from leading companies. However, lack of education and awareness among farmers and challenges to new entrants are expected to hinder the growth of this market to a certain extent. Moreover, the huge agricultural diversity and arable land in emerging countries, including Asia-Pacific and Latin America, are expected to offer significant growth opportunities for players operating in the agriculture biologicals market.
The global agricultural biologicals market is segmented based on product type (biopesticides, biofertilizers, and biostimulants), source (microbial, biochemical, and others), formulation (liquid and dry), application (foliar spray, soil treatment, seed treatment, and other modes of application), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, and other crop types). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on product type, in 2022, the biopesticides segment is expected to account for the largest share of the global agricultural biologicals market. The largest share of this market is mainly attributed to the increasing investment from leading crop protection companies, growing awareness about environmental safety, higher crop quality and yield with the use of biopesticides, growing organic farming & demand for organic food, and rising government initiatives.
Based on the source, the microbial segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period of 2022 - 2029. As microbial origin biologicals are composed of naturally occurring viruses, fungi, or bacteria, they are mostly preferred for organic and residue-free food production. Further, factors such as the higher advantage of selectivity; high effectivity; no adverse effects on humans, plants, and animals; and ease of use are driving the growth of the microbial biologicals market across the globe.
Based on the mode of application, the seed treatment segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period of 2022 - 2029. The fast growth of this segment is attributed to factors such as increased nutrient availability in the rhizosphere, enhanced root and shoot growth, increased nutrient uptake, protection from pathogens, and better nutrient utilization efficiency. Further, farmers in developed countries increasingly use seed treatment techniques as it increases germination and ensures uniform seedling emergence, which is one of the major factors expected to boost the demand for seed treatment in the market.
Based on crop type, the fruits and vegetables segment is estimated to account for the largest share of the global agricultural biologicals market. The large share of this segment is mainly attributed to the increasing fruit & vegetable production across the globe, growing demand for chemical-free organic fruits & vegetables, and the growing number of diseases affecting fruit & vegetable crops.
Based on geography, Latin America witnessed a rapid growth of the global agricultural biologicals market during the forecast period of 2022 - 2029. The fast growth of this market is mainly attributed to factors such as growing food demand, rising demand and popularity of organic products with growing organic farming, environmental concerns over agrochemical usage, and the rising need to increase agricultural production.
Market Dynamics
Drivers
- Growth in Organic Farming & the Rising Demand for Organic Food
- Rising Awareness about Environmental Safety
- Increasing Government Initiatives to Promote the Use of Biopesticides
- Increasing Investments from Leading Market Players
Restraints
- Lack of Education & Awareness Among Farmers
- Regulatory & Financial Hurdles for New Entrants
Opportunities
- Agricultural Diversity & Arable Land in Emerging Countries
Challenges
- Lengthy Product Registration & Approval Processes
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
5. Agricultural Biologicals Market, by Product Type
6. Agricultural Biologicals Market, by Source
7. Agricultural Biologicals Market, by Formulation
8. Agricultural Biologicals Market, by Mode of Application
9. Agricultural Biologicals Market, by Crop Type
10. Agricultural Biologicals Market, by Geography
11. Competitive Landscape
12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
13. Appendix
Companies Mentioned
- Bayer AG (Germany)
- Koppert B.V. (Netherlands)
- Marrone Bio Innovations (U.S.)
- FMC Corporation (U.S.)
- Gowan Company LLC (U.S.)
- Vegalab SA (Switzerland)
- The Stockton Group (Israel)
- International Panaacea Limited (India)
- InVivo Group (France)
- Biolchim Group (Italy)
- Seipasa S.A. (Spain)
- Syngenta AG (Switzerland)
- BASF SE (Germany)
- Novozymes A/S (Denmark)
- Andermatt Biocontrol AG (Switzerland)
- Certis U.S.A. LLC (U.S.)
- Som Phytopharma India Limited (India)
- W. Neudorff GmbH KG (Germany)
- Rizobacter S.A. (Argentina)
- Lallemand Inc. (U.S.)
- Valent U.S.A. LLC (U.S.)
- among others.
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