Market Research Report
The market for agricultural biologicals is projected to grow at a CAGR between 14% to 15% from 2018 to 2024. Agricultural biologicals are naturally occurring solutions which can be used as a replacement to chemical fertilizers and pesticides. Growing demand for organic farming, increasing awareness about the disadvantages of chemical fertilizers and pesticides, rising demand for food by the growing population, and changing mentality of the farmers inclining more towards usage of biological products for environment safely is driving the market for agricultural biologicals. Along with this, rising cost of fertilizers and increasing government bans and strict regulations for pesticides and fertilizers is fueling the growth of agricultural biologicals market.
The major types of agricultural biologicals considered in the study are biopesticides, biofertilizers, and biostimulants. Biopesticides dominate the market due to high usage of biopesticides as an alternative to chemical pesticides and increasing support of European countries for use of only biologicals in the agricultural field.
The crop types considered in the agricultural biologicals market are cereals, oilseeds & pulses, flowers & ornamentals, fruits & vegetables and others. The market for cereals & grains is highest due to high consumption of these food grains all over the world thus high usage of agricultural biologicals on them.
The agricultural biologicals market is studied for Americas, Europe, Asia-Pacific, and RoW which includes the Middle East and Africa. Europe dominated the market with the largest market share followed by Americas and Asia-Pacific. Spain and Italy are the largest markets in the country-level market in European region. Rising demand for organic products, reduced chemical hazards, improved yield, and increased productivity along with no harmful residue problem by using agricultural biologicals is driving the market growth in Europe. Asia-Pacific is the fastest growing region in the agricultural biologicals market.
The leading players in this industry include BASF SE, Bayer CropScience AG, Isagro SPA, Novozymes A/S, Syngenta AG, The Dow Chemical Company, T. Stanes & Company Ltd., Marrone Bio Innovation Inc. Koppert B.V., Arysta LifeScience Ltd., Certis USA LLC, among others. These companies have established their position in the market by offering competent agricultural biological products. Along with this, they are making their presence strong in the market though strategies such as mergers, acquisitions, joint ventures and collaborations.
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