AGRICULTURAL BIOLOGICALS MARKET: OVERVIEW

Global Agricultural Biologicals Market Size is expected to be worth USD 9.26 billion in 2021 and is estimated to reach up to USD 29.29 billion by 2030, at a compound annual growth rate (CAGR) of 14.30% from 2021 to 2030. Agricultural biologicals, which are used to substitute chemicals in agriculture farming, are created from naturally occurring microbes or biochemical derived from plants. They effectively safeguard crops from weeds and pests and contribute to their continued good health. Because it discourages the use of synthetic fertilizers to grow wholesome food, agricultural biologicals has captured the attention of the majority of farmers. A method of agriculture production known as biological agriculture aids in the safer manufacture of crop treatments.
 

Growing instances of pest outbreaks in crops, increased consumer knowledge of and demand for agricultural food of the highest quality, and the emergence of pest resistance to various plant protection chemicals are some of the key drivers of market expansion. The misuse of crop protection chemicals is damaging the environment, which is increasing demand for biological products that may be used alone or in conjunction with synthetic pest resistant compounds. This need is expected to support market expansion during the forecast period.
 

COVID-19 ANALYSIS

The Covid-19 outbreak had seriously impacted the supply systems in the food and agricultural industries. However, due to the flexibility of producers, supply chain contributors, and retailers as well as the quick and comprehensive response of governments, minor economic consequences were seen in the industry. According to OECD (Organization for Economic Co-operation and Development), governments in 54 developed and emerging countries took close to 800 actions with the intention of preventing worsening disruptions, aiding affected producers and consumers, or accelerating the recovery of affected production activities. The agricultural biologicals market is anticipated to experience a short-term decline as a result of the epidemic. Due to the goal in guaranteeing stable supply chains, sustainable crop production, and food security, the pandemic is anticipated to increase investment in agricultural biologicals.
 

AGRICULTURAL BIOLOGICALS MARKET: TREND  

Favorable Government Regulatory Structure Propel Market Growth 

The US Environmental Protection Agency (USEPA) often requires less rigorous data to register a biopesticide than a chemical pesticide because biopesticides typically pose fewer environmental dangers than chemical pesticides. As a result, compared to an average of more than three years for chemical pesticides, novel biopesticides are frequently registered in less than a year. In the European Union, biopesticides are subject to the same regulations as chemical pesticides. The EU receives timely and extensive assistance from the OECD, a 34-nation organization with its headquarters in Paris, France, in order to evaluate biopesticides for reducing dangers to humans and the environment.
 

Even developing nations, like India, have streamlined the registration requirements for biopesticides in an effort to encourage their use. The usage of biopesticides was highly advised by the National Farmer Policy in India. A global opportunity for the development of biopesticides is being created by all these activities.
 

AGRICULTURAL BIOLOGICALS MARKET: DRIVERS

Increasing Demand for Natural and Environmentally Friendly Products Drive Market Growth 

The main driver of the expansion in the agricultural biologicals market is consumers' growing knowledge of the benefits of utilizing organic products in farming, which in turn has increased demand for natural and environmentally friendly products in the agricultural sector. In the upcoming years, the product's expansion is also projected to be aided by the rising costs of fertilizers and pesticides. The expansion of the agricultural biologicals market would be fueled by government policies including subsidies and marketing campaigns promoting natural farming over the forecast period. Additionally, by reducing plant stress, the product aids farmers in increasing output and productivity, which is a key driver boosting agricultural biologicals market expansion during the forecast period.
 

AGRICULTURAL BIOLOGICALS MARKET: RESTRAINT                                  

Low Adoption Rate of Bio-Based Agricultural Products Hamper Market Growth

The low adoption rate of bio-based agricultural products is major obstacle to the growth of the worldwide agricultural biological market. Compared to their chemical counterparts, agricultural biologicals are less effective in controlling insects and fungi, among other things. In addition to being more difficult to use than traditional pesticides, bio pesticides may also demand more technical knowledge from the user. Additionally, compared to chemical pesticides, agricultural biologicals, such as bio-pesticides, are more vulnerable to unfavorable environmental circumstances.
 

AGRICULTURAL BIOLOGICALS MARKET: SEGMENTATION INSIGHT    

The Global Agricultural Biologicals Market is segmented by Function Type, Source, Application Method, and Region. Based on the Function Type, the market is categorized into Biopesticides, Biostimulants, and Biofertilizers. Based on Source, the market is categorized into Microbial, Natural Products, and Biochemicals. Based on Application Method, the market is categorized into Foliar Spray, Soil Treatment, Seed Treatment, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
 

AGRICULTURAL BIOLOGICALS MARKET: REGIONAL INSIGHTS   

The Global Agricultural Biologicals Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.       
 

North America region dominates the market share of the global agricultural biologicals market owing to the regions need for biological products are rising as a result of the rising desire for organic agriculture. Through the development of updated test methodologies and clear guidance documents, the US Environmental Protection Agency (EPA), which is responsible for pesticide regulation in the US, has improved the efficiency of the registration of biopesticide products. As a result, more than 430 biopesticide ingredients are currently available in the nation. However, Europe is the second-largest market for agricultural biologicals during the forecast period. The size of organic farmlands in the region is twice that of conventional farmlands, and over 7% of the total agricultural land in the region is used for organic harvesting. Over the last ten years, organic agriculture has increased by 70% in Europe, and over 250,000 farms now harvest organs. Germany is the largest European retail market for organic produce, followed by France, Italy, and the U.K.
 

Asia Pacific region is expected to witness the highest growth rate due to the majority of agrarian economies, including India, Japan, Thailand, Malaysia, South Korea, and the Philippines, are concentrated in the Asia Pacific area. These countries practice more sustainable forms of agriculture. This trend is supported by rising consumer demand for organic food, as well as legislative efforts and agricultural changes made by different governments.
 

AGRICULTURAL BIOLOGICALS MARKET: KEY COMPANIES

• Syngenta
• Dow
• Bayer | Crop Science
• BASF SE
• Isagro S.p.A.
• Novozymes A/S
• Marrone Bio Innovation Inc.
• Valent BioSciences
• Koppert Biological Systems US
• UPL

AGRICULTURAL BIOLOGICALS MARKET: KEY INDUSTRY DEVELOPMENTS

• June 2019- A distribution deal was signed by Bayer and AlphaBio Management to commercialise Flipper, a cutting-edge biological pest control solution created by AlphaBio.
• January 2019- Two of Marrone Bio Innovations Inc.'s products were approved for sale in Canada according to an announcement made by the company. The Pest Management Regulatory Authority licenced MBI-110 Biofungicide, which is sold as Stargus for specialty crops in the United States (PMRA). Canadian Food Inspection Agency has authorised Haven Sun Protectant (CFIA).

IT SERVICES MARKET: REPORT OVERVIEW

The scope of the report includes a detailed study of regional markets for Global Agricultural Biologicals Market. The Global Agricultural Biologicals Market is segmented by Function Type, Source, Application Method, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Agricultural Biologicals Market.