Mar 24, 2022   SOURCE: BusinessWire

The Worldwide Agricultural Biologicals Industry is Expected to Reach $24.6 Billion by 2027 - ResearchAndMarkets.com

The "Worldwide Agricultural Biologicals Industry" report has been added to ResearchAndMarkets.com's offering.

The global market for agricultural biologicals is estimated at USD 12.9 billion in 2022; it is projected to grow at a CAGR of 13.7% to reach USD 24.6 billion by 2027.

The rise in the population and increased consumption of food products across regions are the key factors that have led to a substantial increase in food production. Farmers focus on opting for conventional chemical-based fertilizers to increase yield and meet the domestic as well as international demands. This repeated use of chemical fertilizers has led to the degradation of soil and water quality.

Strong initiatives toward organic farming and the increasing awareness of environmental protection have encouraged the demand for agricultural biologicals in the agriculture industry. Factors such as degrading soil health due to the increasing usage of chemical-based crop protection methods, decreased productivity, and rising instances of pest infestations are the key factors contributing to the growth of the biologicals segment for crop protection and crop enhancement.

The Biocontrol segment by function is projected to observe the fastest growth in the Agricultural Biologicals market throughout the forecasted period

Biocontrol is estimated to be the largest subsegment under type. Biological control (biocontrol) is a broad term that refers to the use of one organism to control another. It can be used to restore some of the regulating factors that limit a pest's competitive ability. Biocontrol involves using living organisms, such as insects, pathogens, or even grazing animals, to suppress weed infestation or plant diseases.

The Microbial segment by product type is estimated to account for the largest market share in the global Agricultural Biologicals market

The ability to boost nutrient availability in the soil and increase plant yield to promote microbial segment growth. Microbials are effective against target pests and do not react against beneficial and non-targeted pests. Microbial biofertilizers are generally derived from bacterial sources. Bacterial genus such as Rhizobium, Azotobacter, Azospirillum, Cyanobacteria, and Azolla help in enhancing nitrogen content in the soil, thereby enhancing the crop yield.

The foliar spray sub-segment of the by mode of application segment is projected to attain the fastest market growth in Agricultural Biologicals market over the forecast period

Foliar spray is a common mode of application for biocontrol methods, while seed treatment and soil treatment are generally preferred for biostimulants and biofertilizers. This has led to an increase in demand for foliar spray compared to soil or seed treatment solutions. Foliar spraying can help plants recover fast from stresses caused by nutrient deficiencies, water scarcity, extreme temperatures, pests, and diseases. Foliar fertilizer application can be an effective way to increase crop yield and get a quick response. It promotes nutrient balance inside the plant and across a field, according to scientists.

The fruits and vegetables segment by the crop type is estimated to account for the largest market share in the global Agricultural Biologicals market

The fruits and vegetables segment accounted for the largest share due to their high global demand. In addition, the ban on the production of chemicals for vegetables and fruits is expected to discourage farmers from opting for sustainable cultivation methods. Farmers that grow vegetables and fruits typically make large, long-term investments in their fields, and their crops are perishable. As a result, growers are especially receptive to the benefits of biostimulants, such as improved plant health, pest and disease resistance, drought tolerance, and yields.

Market Dynamics

Drivers

  • Regulatory Pressures and Harmful Effects Associated with Synthetic Plant Protection Products
  • Rise in Resistance Development in Various Pest and Insect Species Estimated to Drive the Consumption of Natural Biocontrol Protection in Agriculture
  • Rising Trend for Organically Produced Foods Amongst Consumers Driving the Demand for Biologicals

Restraints

  • Technological and Environmental Constraints for the Use of Biologicals

Opportunities

  • Advancements in Microbial Research Undertaken by Key Players Across Regions to Drive the Market Growth
  • Increasing Importance of Sustainable Food Production Globally

Challenges

  • High Preference for Agrochemicals Among Farmers Across Regions to Inhibit the Market Growth
  • Presence of Counterfeit Products in the Market Across Regions Inhibits the Market Growth

Companies Mentioned

  • Axeb Biotech
  • BASF SE
  • Bayer AG
  • Biolchim SpA
  • Biovert S.L.
  • Gowan Company
  • Koppert Biological System
  • Lallemand Inc.
  • Marrone Bio Innovations, Inc.
  • Pivot Bio
  • Plant Response
  • Rizobacter
  • Stockton Bio-AG
  • Symborg
  • Syngenta AG
  • Trade Corporation International
  • UPL
  • Valent Biosciences LLC
  • Vegalab SA
  • Verdesian Life Sciences

For more information about this report visit https://www.researchandmarkets.com/r/eqzuej