Agricultural Biologicals Market size is set to grow by USD 13.55 billion from 2024-2028, Increasing prices of chemical fertilizers and pesticides boost the market, Technavio

NEW YORK, June 26, 2024 /PRNewswire/ -- The global agricultural biologicals market size is estimated to grow by USD 13.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 15.89% during the forecast period. Increasing prices of chemical fertilizers and pesticides is driving market growth, with a trend towards increasing use of sustainable products for plant growth. However, lack of awareness of agricultural biologicals poses a challenge. Key market players include Agrinos AS, Andermatt Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance, Evogene Ltd., Gowan Co., Koppert, Mitsui and Co. Ltd., Novozymes AS, PI Industries Ltd., Pro Farm Group Inc., PROBELTE SAU, SEIPASA SA, SOM Phytopharma India Ltd., Syngenta Crop Protection AG, T.Stanes and Co. Ltd., UPL Ltd., Valent BioSciences LLC, and Vegalab SA.

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Market Driver

Agricultural biostimulants are essential products that enhance plant growth and improve crop yields. These substances, which include natural and synthetic compounds, microorganisms, and plant-growth regulators, boost a plant's metabolism and increase biomass production. Natural biostimulants, such as amino acids, seaweeds, and bacteria, are commonly used in sustainable farming practices for medicinal plants. The market for these biostimulants is expected to grow significantly due to their ability to increase crop quality and tolerance to stresses. Key components include synthetic hormones, essential elements, inorganic salts, and phenolic compounds. 

The Agricultural Biologicals market is experiencing significant growth due to the increasing demand for sustainable farming solutions. Products like pesticides, fungicides, and herbicides are essential in protecting crops from pests and diseases. New trends include the use of biostimulants, which enhance plant growth and improve crop yield. Additionally, the adoption of microbial-based products is on the rise, as they offer natural and eco-friendly alternatives to synthetic chemicals. Furthermore, the development of precision agriculture technologies is driving the market, as farmers can now apply these biologicals more effectively and efficiently. Overall, the Agricultural Biologicals market is expected to continue its growth trajectory in the coming years. 

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Market Challenges

• The global agricultural biologicals market faces challenges due to insufficient awareness regarding the advantages of biofertilizers and biostimulants. In Sub-Saharan Africa, the use of these products is low due to a lack of infrastructure, skills, and supportive regulations. Effective regulations, governmental support, and increased awareness are necessary to encourage adoption. Farmers in the region remain uninformed about the benefits of biostimulants, hindering their demand. To boost the market, it's essential to promote awareness, enhance innovation, and implement impactful marketing strategies.
• The Agricultural Biologicals market faces several challenges in its procurement and application. One major challenge is the production and availability of bioproducts like fertilizers, pesticides, and biostimulants. Consumers and farmers require consistent and timely supply to maintain productivity. Another challenge is the cost-effectiveness of these biologicals compared to synthetic alternatives. Producers must find ways to reduce production costs while maintaining quality. Additionally, regulatory compliance is a significant challenge. Producers must adhere to strict regulations regarding the use and disposal of agricultural biologicals. Lastly, the market is highly competitive, with numerous players vying for market share. Companies must differentiate themselves through innovation, quality, and customer service.

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Segment Overview 

This agricultural biologicals market report extensively covers market segmentation by  

1. Type 
• 1.1 Biopesticides
• 1.2 Biofertilizers
• 1.3 Biostimulants
2. Application 
• 2.1 Cereals and grains
• 2.2 Fruits and vegetables
• 2.3 Oilseeds and pulses
• 2.4 Other crops
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Biopesticides-  The Agricultural Biologicals Market is experiencing steady growth due to the increasing demand for sustainable farming solutions. Biological products, such as bio-pesticides and bio-fertilizers, offer farmers improved crop yields and reduced environmental impact. Key players in this market include BASF SE, Bayer AG, and Syngenta AG, who invest in research and development to bring innovative solutions to market. Government initiatives and regulations also support the use of agricultural biologicals, making this a promising industry for future growth.

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Research Analysis

The Agricultural Biologicals Market encompasses the use of chemical pesticides and sustainable alternatives, such as Biopesticides, Microbial-based products, Plant extracts, and Beneficial insects, in the agricultural sector. With stricter regulations being imposed to protect the environment, there is a growing demand for environmentally friendly solutions. Product innovation strategies and effective marketing are crucial for companies operating in this market, which includes industrial sectors like fertilizers and biofertilizers, biostimulants, and microorganisms. Sustainable agriculture is a key focus area, as these solutions enhance soil fertility and promote biological activity, contributing to the growth of plants. International travel for research and development purposes is essential in this industry, particularly in the context of agri-exports and the decline in traditional chemical-based farming methods.

Market Research Overview

The Agricultural Biologicals Market encompasses a wide range of products derived from living organisms or their by-products, used to enhance crop productivity and protect against pests. These include biological pesticides, biofertilizers, and biostimulants. The use of agricultural biologicals is gaining popularity due to their eco-friendly nature and minimal impact on the environment. The market is driven by factors such as increasing global population, the need for sustainable agriculture, and stringent regulations against the use of synthetic fertilizers and pesticides. The market is segmented based on product type, application, and geography. The future outlook for the Agricultural Biologicals Market is positive, with a significant growth rate expected due to the increasing demand for organic and sustainable farming practices. The market is also witnessing significant investments in research and development to improve the efficacy and efficiency of agricultural biologicals.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Biopesticides
• Biofertilizers
• Biostimulants
• Application
• Cereals And Grains
• Fruits And Vegetables
• Oilseeds And Pulses
• Other Crops
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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