Agricultural biologicals Market is presently worth USD 12.9 billion and is poised to amplify at a CAGR of 12.74% over 2022-2030, thereby amassing USD 36.03 billion by end of the assessment timeline.
Agricultural biologicals, usually referred to as biologics, are important instruments for crop productivity and protection that are made from natural resources. These goods aid in the defence of plants against pests and are rapidly being used into contemporary farming methods. These goods have been used by numerous agricultural communities all over the world to establish sustainable farming.
A class of agricultural biologicals called microbes is derived from microorganisms like bacteria and fungi. These bacteria boost plant fertility and yield while also defending crops from pests and illnesses. Biocontrol, biofertility, and bioyield enhancers are three subcategories of microbes. Fungi, bacteria, and other microorganisms known as biocontrols protect plants from weeds, insects, and disease. The plant can more easily acquire phosphate and nitrogen from the soil thanks to biofertility bacteria. Bioyield enhancers are substances obtained from microbes and plants that improve a plant's nutritional capacities and aid in rapid plant development.
The need for agricultural biologicals in the agriculture business has been boosted by strong movements toward organic farming and rising environmental protection consciousness. The main drivers of the expansion of the biologicals segment for crop protection and crop enhancement are issues including declining productivity, deteriorating soil health brought on by the increased use of chemical-based crop protection technologies, and rising insect infestation rates.
Investment in R&D and targeting emerging economies as their next opportunity for expansion are two of the main methods used by business participants. The industry is still in the early stages of development, and merger and acquisition activity is moderate. Either expanding geographically or strengthening the product offering is the main justification for acquisitions. Future market competition is anticipated to be fierce due to the rising number of product approvals and investments in bio-ingredients.
Segmentation Analysis of Global agricultural biologicals market:
Based on type
- Biopesticides
- Bio stimulants
- Biofertilizers
- Other
Based on source
- Microbial
- Biochemicals
- Other
Based on application method
- Foliar spray
- Soil treatment
- Seed treatment
- Others
Based on crop
- Row crops
- Fruits and vegetables
- Others
Competitive Landscape:
The Key players in the Global agricultural biologicals Market are Bayer Cropscience, Isagro Group, Syngenta, BASF SE, Corteva Agriscience, Valent Biosciences, Novozymes, T. Stanes & Company Ltd., Valagro, and Marrone Bio Innovations.
Covid-19 Impact:
The COVID-19 epidemic had a negative impact on a number of economies worldwide. Globally, several businesses, particularly agriculture and crop security, were negatively impacted by the total lockdown and quarantine necessary to combat COVID-19. In the first quarter of 2020, the agriculture biologicals market had a significant slowdown in sales, mostly as a result of the disruption in logistics and transportation. The farm biologicals market experienced disruptions in all areas of the sector's value chain, from the supply of raw materials through manufacture, packaging, and distribution.
COVID-19 led to production facilities closing, limits on workers' freedom of movement, and a drop in demand from farmers. The industry also experienced acute labour shortages as a result of frequent lockdowns that disrupted trade and output. The profitability of farm biologicals makers and vendors was under pressure in 2020 due to a fall in sales during the first few months of the year and weaker demand from a few key regions.
Major questions answered in this report:
- What is the growth rate of this Market?
- What are the primary growth determinants of the Global agricultural biologicals market?
- Which are the major regions constituting the geographical landscape of Global agricultural biologicals Market?
- Which are the prominent companies operating in Global agricultural biologicals Market?
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