Agricultural Biologicals Market Overview
The Agricultural Biologicals Market, valued at USD 8.0 billion in 2022, is poised for substantial growth, projected to reach USD 17.9 billion by 2030 with an impressive Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period from 2023 to 2030. Agricultural biologicals, derived from organic sources like agricultural waste, manure, biological matter, and microorganisms, offer unique properties such as stimulating soil microbial function, activating plant physiology, and adjusting nutrients and pH. These natural fertilizers serve as an eco-friendly alternative to chemical fertilizers, providing protection against rodents, pests, and plant diseases.
Market Segmentation:
The global agricultural biologicals market is comprehensively segmented based on type, source, mode of application, application, and region.
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Type:
Among these, the biopesticides segment took the lead in 2017, driven by innovations, cost-effectiveness, and enhanced harvest yields. Biopesticides target specific pests without affecting soil fertility. The biofertilizers segment is expected to grow significantly, offering improved fertility and safety compared to chemical alternatives like urea.
- Biopesticides
- Biofertilizers
- Bio-stimulants
- Others
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Source:
Biochemicals are projected to exhibit substantial Animal Parasiticides Market Growth, attributed to their easy availability and cost-effectiveness.
- Microbials
- Biochemicals
- Biorationals
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Mode of Application:
In 2017, foliar spray treatment dominated, facilitated by easy nutrient absorption and high yield. Seed treatment is anticipated to grow robustly due to increased productivity and cost-effectiveness.
- Foliar Spray
- Soil Treatment
- Seed Treatment
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Application:
Cereals and grains dominated in 2017, driven by population growth and staple diets in emerging economies like India, China, and Japan. Fruits and vegetable segments are expected to experience high growth, responding to increasing demand in North America and Europe.
- Cereals and Grains
- Fruits and Vegetables
- Oilseeds and Pulses
- Cash Crops
- Others
Regional Analysis:
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The global agricultural biologicals market is analyzed across five key regions:
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North America:
- Dominated the market in 2017.
- Projected to maintain dominance, with the US leading due to key manufacturers like Monsanto Company, Agrinos, and Arysta LifeScience Corporation.
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Asia-Pacific:
- Expected to witness the highest CAGR.
- China and India lead in adopting agricultural biologicals, driven by a large consumer base and growing agri-business.
- Japan and Australia & New Zealand contribute to regional market growth.
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Latin America, Europe, and the Middle East & Africa:
- Each region plays a crucial role in the global agricultural biologicals market.
Competitive Analysis:
Key players in the global agricultural biologicals market include DowDuPont (US), Isagro SpA (Italy), Novozymes (Denmark), Marrone Bio Innovations (US), Bayer AG (Germany), Syngenta (Switzerland), Monsanto Company (US), BASF SE (Germany), Valent Biosciences LLC (US), Koppert B.V. (Netherlands), Certis USA L.L.C (Colombia), Agrinos (US), and Arysta LifeScience Corporation (US).
In conclusion, the agricultural biologicals market is on an upward trajectory, driven by increasing awareness of eco-friendly alternatives, innovations in biopesticides, and the growing demand for sustainable agriculture practices. The market’s segmentation reflects diverse applications and preferences across regions, making it a dynamic and evolving landscape with significant growth potential. As the market continues to expand, strategic initiatives by key players will play a crucial role in shaping its future landscape.
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