IMARC Group’s latest report, titled “Agricultural Biologicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the agricultural biologicals market reached a value of US$ 8.10 Billion in 2020. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 witness strong growth, exhibiting a CAGR of 12.70% during the forecast period (2021-2026).
- Based on the type, the market has been categorized into biopesticides, biofertilizers, and biostimulants. Among these, biopesticides dominate the largest market share.
- On the basis of the source, the market has been classified into microbials, 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, seed treatment holds the largest market share.
- On the basis of the application, cereals and grains exhibit a clear dominance in the market. Other major application segments are oilseed and pulses, fruits and vegetables, turf and ornamentals, and others.
- 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.).
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