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Agricultural Biologicals Market Worth $20.81 Billion by 2029 - Exclusive Report by Meticulous Research®

(IT-NEWSWIRE.COM, August 04, 2022 ) According to a new market research report titled, “Agricultural Biologicals Market by Product Type (Biopesticides, Biostimulants, Biofertilizers) Source (Microbial, Biochemical), Formulation (Liquid), Mode of Application (Seed Treatment), Crop Type (Fruits & Vegetables), and Geography – Global Forecast to 2029,” in terms of value, the agricultural biologicals market is expected to record a CAGR of 12.2% from 2022–2029 to reach $20.81 billion by 2029.

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Agricultural biologicals are a diverse group of products derived from naturally occurring microorganisms, plant extracts, beneficial insects or other organic matter. They provide growers with valuable tools by delivering highly effective solutions in managing pests and diseases without creating negative impacts on the environment, and their active and inert ingredients are generally considered safe. Besides the microbial content, carrier media for formulating biologicals consist of several organic materials, such as animal broth, organic materials, or organic waste products. The media is a biodegradable material.

Besides impacts on humans, chemicals do cause significant damage to the environment. There have been many cases around the world where freshwater used for agriculture is getting polluted with harmful pesticides, causing serious damage to the fauna and flora of the freshwater. Therefore, many environment-friendly organizations, such as Environmental Protection Agency, have opposed pesticides. For instance, a recent study conducted by researchers at the Public Health Institute, the California Department of Health Services, and the UC Berkeley School of Public Health found a six-fold increase in risk factors for Autism Spectrum Disorders (ASD) for children of women who were exposed to organochlorine pesticides. All these factors positively affect the growth of the global agricultural biologicals market.

Biologicals are always safer and easier on the environment than chemical products. They are often formulated to only affect the target pest and closely related organisms (selective) in direct contrast to chemicals, which frequently offer broad sweeping coverage (non-selective) negatively impacting insects, birds, and anything else in contact with them. Biologicals contain natural organisms or products, therefore less threatening to the environment and human health. Biologicals have attracted attention in pest management and have long been promoted as prospective alternatives to synthetic pesticides.

Hence, increasing environmental and public health hazards due to chemicals and growing awareness about environmental safety with the use of biologicals fuel the growth of the global agricultural biologicals market.

The Impact of COVID-19 on the Agricultural Biologicals Market

The COVID-19 pandemic adversely hit many economies around the globe. Complete lockdown and quarantine to fight COVID-19 adversely impacted many industries globally, including agriculture and crop protection. In the agriculture sector, the agriculture biologicals market registered a strong slowdown in sales in the first quarter of 2020, mainly due to the disturbance in logistics and transportation. Along with logistics and transportation, the agriculture biologicals market registered interruptions in the entire sector's value chain from raw materials supply to manufacturing, packaging, and distribution.

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COVID-19 resulted in the movement restrictions of workers, a decline in demand from farmers, and the closure of production facilities. The industry also suffered severe labor shortages due to repeated lockdowns that affected the production and trade movements. The decline in business for a few initial months in 2020, coupled with lower demand from a few major markets, put pressure on the profitability of agriculture biological manufacturers and vendors.

The effects of the COVID-19 pandemic on this market were felt in China starting in 2020, as the country is one of the world's largest raw material suppliers for the agriculture biologicals industry. Most European and North American agriculture biologicals companies are majorly imported key active ingredients used in producing biologicals, mainly from China and other Asian countries. The current crisis being persistent suggested low availability of raw materials as the cropping season progressed. This created a scarcity of products in high-growth markets, such as the U.S., Brazil, Spain, and Italy.

Therefore, a complete halt in the transportation and logistics industry and reduced production in some countries due to lockdowns are projected to adversely affect the global agricultural biologicals market in terms of volume sales in 2020 and 2021.

Key Findings in the Global Agricultural Biologicals Market Study

The global agricultural biologicals market is segmented based on product type (biopesticides, biofertilizers, and biostimulants), source (microbial, biochemical, and others), formulation (liquid and dry), application (foliar spray, soil treatment, seed treatment, and other modes of application), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, and other crop types). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product, in 2022, the biopesticides segment is expected to account for the largest share of the global agricultural biologicals market. The large share of this market is mainly attributed to the increasing investment from leading crop protection companies, growing awareness about environmental safety, higher crop quality and yield with the use of biopesticides, growing organic farming & demand for organic food, and rising government initiatives. However, the biostimulants segment is expected to grow at the highest CAGR during the forecast period of 2022-2029. The growth of this market is mainly attributed to the growing organic farming and demand for organic food, the rising need to increase crop yield and quality, a wide range of benefits of biostimulants in crop production, and growing awareness about environmental safety with the use of biostimulants.

Based on source, in 2022, the microbial segment is estimated to account for the largest share of the agricultural biologicals market. The largest share of this market is mainly attributed to the factors such as the higher advantage of selectivity; high effectivity; no adverse effects on humans, plants, and animals; and ease of use.

Based on formulation, in 2022, the liquid biologicals segment is expected to account for the largest share of the overall agricultural biologicals market. The growth of this segment is mainly driven by factors such as uniform and easy application, better performance, and higher effective duration (up to 6 months) than that of dry formulation (up to 3 months). Also, their increased importance in the latest irrigation technologies like drip irrigation and sprinkler irrigation with the reduction in blockage is the key factor attributed to the growth of this segment.

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Based on application, in 2022, the foliar spray segment is expected to account for the largest share of the agricultural biologicals market. The large share of this segment is attributed to factors such as uniform distribution of biochemicals, highest biologicals use efficiency, and minimum to no wastage of biologicals achieved with the foliar spray technique. Furthermore, the increasing acceptance of biological microbes and smart farming techniques has been a major driving factor for the foliar spray segment. However, the seed treatment segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period of 2022-2029. The fast growth of this segment is attributed to factors such as increased nutrient availability in the rhizosphere, enhanced root and shoot growth, increased nutrient uptake, protection from pathogens, and better nutrient utilization efficiency. Further, farmers in developed countries are increasingly using seed treatment techniques as it increases germination and ensures uniform seedling emergence, which is one of the major factors expected to boost the demand for seed treatment in the market.

Based on crop type, in 2022, the fruits and vegetable segment is estimated to account for the largest share of the global agricultural biologicals market. The large share of this segment is mainly attributed to the increasing fruit & vegetable production across the globe, growing demand for chemical-free organic fruits & vegetables, and the growing number of diseases affecting fruit & vegetable crops. However, the cereals & grains segment is expected to grow at the highest CAGR during the forecast period of 2022—2029. The fast growth of this segment is driven due to increasing demand for high-quality food products, growing awareness regarding health and the adverse effects of chemical pesticides on public health, and the environment has encouraged consumers to opt for organic cereals & grains.

Based on geography, in 2022, Europe is expected to account for the largest share of the agricultural biologicals market. The large share of this market is mainly attributed to the increasing demand for organic products, rapid growth in the use of biologicals in seed treatment, improving yield and productivity, increase in adoption of natural products over synthetic products, and increasing health consciousness. However, Latin America witnessed a rapid growth of the global agricultural biologicals market during the forecast period of 2022—2029. The fast growth of this market is mainly attributed to factors such as growing food demand, rising demand and popularity of organic products with growing organic farming, environmental concerns over agrochemical usage, and the rising need to increase agricultural production.

Key Players

Some of the key players operating in the global agricultural biologicals market are Bayer AG (Germany), Koppert B.V. (Netherlands), Marrone Bio Innovations (U.S.), FMC Corporation (U.S.), Gowan Company LLC (U.S.), Vegalab SA (Switzerland), The Stockton Group (Israel), International Panaacea Limited (India), InVivo Group (France), Biolchim Group (Italy), Seipasa S.A. (Spain), Syngenta AG (Switzerland), BASF SE (Germany), Novozymes A/S (Denmark), Andermatt Biocontrol AG (Switzerland), Certis U.S.A. LLC (U.S.), Som Phytopharma India Limited (India), W. Neudorff GmbH KG (Germany), Rizobacter S.A. (Argentina), Lallemand Inc. (U.S.), and Valent U.S.A. LLC (U.S.), among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/agricultural-biologicals-market-5314

Meticulous Research™

chhagan yadav

+91 744-7780008


Source: EmailWire.Com

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