REDDING, Calif., Aug. 11, 2022 /PRNewswire/ -- 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 - Forecast to 2029,'' the agricultural biologicals market is expected to grow at a CAGR of 12.2% from 2022 to 2029 to reach $20.81 billion by 2029.
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Agricultural biologicals are always safer and easier on the environment than chemical products. Biologicals 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) that will negatively impact insects, birds, and anything else that comes in contact with them. Biologicals contain natural organisms or products, therefore pose less threat to the environment and human health. Biologicals have attracted attention in pest management and have long been promoted as prospective alternatives to synthetic chemicals.
The growth of this market is mainly driven by the growing organic farming & demand for organic food, growing awareness about environmental safety, rising government initiatives, and increasing investments from leading companies. Moreover, the huge agricultural diversity and arable land in emerging countries, including Asia-Pacific and Latin America, are expected to offer significant growth opportunities for players operating in the agriculture biologicals market.
However, lack of education and awareness among farmers and challenges to new entrants are expected to hinder the growth of this market to a certain extent.
Growing Organic Farming and Demand for Organic Food is Expected to Drive the Agricultural Biologicals Market
Biologicals are naturally occurring compounds or agents from animals, plants, and microorganisms such as bacteria, cyanobacteria, and microalgae and control agricultural pests and pathogens. Products such as genes or metabolites from these biocontrol agents can prevent crop damage. Biologicals are advantageous to their counterparts, traditional chemicals, as they are eco-friendly and host-specific. As consumers increasingly become aware of chemicals used in food production and the potential hazards of chemical residue on food, they support chemical-free production alternatives. These factors are expected to drive the growers to organic farming, leading to increased adoption of biologicals as it is a safe alternative to chemicals used for crop protection.
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According to FiBL?IFOAM?SOEL?Surveys, 2021, organic agriculture is practiced in 187 countries, and 72.3 million hectares of agricultural land were managed organically by 3.1 million.
Biologicals are the key components of integrated pest and weed management in organic agriculture. Commonly, biologicals are bacterial, but there are also examples of fungal control agents, including Trichoderma spp. and Ampelomyces quisqualis (a control agent for grape powdery mildew disease). Bacillus subtilis are also used to control plant pathogens. Weeds and rodents have also been controlled with microbial agents. One well-known insecticide example is Bacillus thuringiensis which is active against butterflies, moths, beetles, and flies as it has little effect on other organisms. It is considered more environmentally friendly than synthetic chemicals.
Thus, due to the rising demand for organic agriculture, the demand for biological across the globe is increasing. This growing demand for biological is expected to drive the growth of the agricultural biologicals market.
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 regional and country-level markets.
Based on product type, in 2022, the biopesticides segment is expected to account for the largest share of the global agricultural biologicals market. The largest 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 biostimulant 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 rising need to increase crop yield and quality, growing organic farming and demand for organic food, a wide range of benefits of biostimulants in crop production, and growing awareness about environmental safety with the use of biostimulants.
Based on the 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. Further, its ease of handling and low-to-no re-entry intervals and post-harvest intervals are expected to spur its demand in the market.
Based on formulation, in 2022, the liquid biologicals segment is expected to account for the largest share of the 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.
Based on the mode of application, in 2022, the foliar spray segment is expected to account for the largest share of the agricultural biologicals market. This segment's large share is mainly attributed to the uniform distribution of biochemicals, highest biopesticide use efficiency, and minimum to no wastage of biopesticides achieved using the foliar spray technique. However, the seed treatment segment is estimated to witness rapid growth in the global agricultural biologicals market during the forecast period of 2022?2029.
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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. 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 factors such as the increasing demand for organic cereals & grains and the huge area under organic cereal & grain cultivation. Further, growing awareness regarding health and the adverse effects of chemical pesticides on public health is expected to boost the demand for organic cereals and grains in the market.
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, increasing support from the government, increase in adoption of natural products over synthetic products, and increasing health consciousness.
Moreover, 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.
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.
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Scope of the Report:
Agricultural Biological Market, by Type
Agricultural Biological Market, by Source
Agricultural Biological Market, by Formulation
Agricultural Biological Market, by Application
Agricultural Biological Market, by Crop Type
Agricultural Biological Market, by Geography
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Biopesticides Market by Product Type (Bioinsecticides, Bioherbicides, Biofungicides), Origin (Microbial, Biochemical), Formulation (Liquid, Dry), Mode of Application (Foliar Spray, Seed Treatment), Crop Type, and Geography ? Global Forecast to 2028
Biostimulants Market by Active Ingredients (Acid-based, Extracts-based), Mode of Application (Soil Treatment, Seed Treatment), Formulation (Liquid, Dry), Crop Type (Row Crops, Fruits & Vegetables, Turfs & Ornamentals) ? Global Forecast to 2028
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