Global Agricultural Biologicals Market to Exhibit 15% During 2023-2028, Impelled by Increasing Demand for Agro-Based Products

March 08, 2021 | Agriculture

IMARC Group’s latest report, titled Agricultural Biologicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global agricultural biologicals market reached a value of US$ 12.4 Billion in 2022. Agricultural biologicals, also known as biologics, are biochemicals that are used to protect plants and crops against pests, weeds and diseases. They are obtained from natural materials such as microorganisms, insects, plants and animal extracts. Agricultural biologicals form an integral part of modern agricultural practices, wherein they are used to enhance crop yield by improving nutrient uptake. In recent years, farmers are preferring biologics as they assist in residue and resistance management, restoring the microbial and mineral balance, and increasing carbon levels of the soil.

Global Agricultural Biologicals Market Trends:

The global agricultural biologicals market is primarily driven by the growing need for agro-based products. The rising awareness regarding the harmful effects of chemical-based fertilizers has also escalated the need for organic food products. This has led to the increased demand for an economically sustainable agricultural production process that promotes safer products for crop treatment. Besides this, governments and non-profit organizations (NGOs) are promoting the use of agricultural biologicals as they are safer for the environment and are produced using non-renewable natural resources. Moreover, extensive research and development (R&D) activities undertaken to introduce high-performance agricultural products and eco-friendly pesticides and fertilizers are further providing a positive outlook for the market. On account of these factors, the market is expected to reach US$ 28.3 Billion by 2028, exhibiting a CAGR of 15% during the forecast period (2023-2028).


Market Summary:

  • Based on the type, the market has been categorized into biopesticides, biofertilizers, and biostimulants.
  • On the basis of the source, the market has been classified into microbials, macrobials, biochemicals and others.
  • The market has been divided based on the mode of application into foliar spray, soil treatment, seed treatment and post-harvest. At present, foliar spray holds the largest market share.
  • On the basis of the application, fruits and vegetables exhibit a clear dominance in the market. Other major application segments are oilseed and pulses, cereals and grains, turf and ornamentals, and fruits and vegetables.
  • Region-wise, North America (the United States and Canada) holds the leading position in the market. Other regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Agri Life, Agrinos Inc., Arysta LifeScience Corporation (UPL Limited), BASF SE, Bayer AG, Isagro S.p.A. (PI Industries), Marrone Bio Innovations Inc., Novozymes A/S, Syngenta AG, The Dow Chemical Company, Valagro SpA and Valent U.S.A. LLC (Sumitomo Chemical Co. Ltd.).
     

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Source, Mode of Application, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Agri Life, Agrinos Inc., Arysta LifeScience Corporation (UPL Limited), BASF SE, Bayer AG, Isagro (PI Industries), Marrone Bio Innovations Inc., Novozymes A/S, Syngenta AG, The Dow Chemical Company, Valagro and Valent U.S.A. LLC (Sumitomo Chemical Co. Ltd.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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Global Agricultural Biologicals Market to Exhibit 15% During 2023-2028, Impelled by Increasing Demand for Agro-Based Products
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