The growth of the European agricultural biologicals market is mainly attributed to factors such as the growing preference for organic food coupled with growing awareness regarding the hazards associated with chemicals. In addition, a strict regulatory scenario has forced many farmers to adopt biologicals instead of their chemical counterparts. This is expected to boost the demand for biologicals over the next decade in this region.
Organic farming is rapidly gaining traction in Europe’s agriculture sector. Organic farming produces quality food with a low impact on the environment. Organic farming is important for developing sustainable agriculture. By 2030, the European Commission has developed an Organic Action Plan to bring 25% of agricultural land under organic farming. Also, the Common Agricultural Policy (CAP) provides financial support for implementing organic action plans through rural development commitments and offers technical assistance, best practices, and innovations in organics. It also provides farm advisory services to promote relevant knowledge exchange through Agricultural Knowledge and Innovation Systems (AKIS). Thus, growing government initiatives to increase organic farming in Europe is expected to boost the demand for agricultural biologicals during the forecast period.
According to the Research Institute of Organic Agriculture-International Federation of Organic Agriculture Movements (FIBLIFOAM) 2022 survey, in 2020, land under organic agriculture increased by 0.60 million hectares compared to the previous year. In 2020, around 17.1 million hectares of European agricultural land were under organic cultivation, of which 11.1 million hectares were fully converted and 2.2 million hectares were under conversion. This increase in land under organic cultivation is expected to drive the growth of the agricultural biologicals market.
Furthermore, according to the FIBL-IFOAM 2022 survey, the European countries with the largest areas under organic agriculture are France (2.5 million hectares), Spain (2.4 million hectares), Italy (2.1 million hectares), and Germany (1.7 million hectares). Also, in 2020, Germany was the largest market for organic products, followed by France and Italy. Government support for expanding organic farming is expected to increase the demand for biologicals during the forecast period.
Governing bodies in Europe are now implementing legislative mandates to decrease the dependence on pesticides for increasing consumer & environmental safety. The directives promote low pesticide input by implementing Integrated Pest Management (IPM) and provide the means to establish the necessary conditions and measures to employ these practices and ensure the safety of commercial products. One approach includes using biological control agents and their products as alternatives to synthetic agrochemicals.
The key players operating in the agricultural biologicals market in Europe are Bayer AG (Germany), Corteva, Inc. (U.S.), Marrone Bio Innovations, Inc. (U.S.), Certis USA L.L.C. (a part of Mitsui & Co.) (U.S.), The Dow Chemical Company (a part of Dow Inc.) (U.S.), Andermatt Biocontol AG (Switzerland), BASF SE (Germany), Syngenta AG (a part of ChemChina) (Switzerland), International Panaacea Ltd (IPL) (India), The Stockton (STK) Group (Israel), Novozymes A/S (Denmark), Koppert B.V. (Netherlands), W. Neudorff GmbH KG (Germany), InVivo Group (France), Valent U.S.A. LLC, (a part of Sumitomo Chemical Co., Ltd.) (U.S.), FMC Corporation (U.S.), Gowan Company, LLC. (U.S.), Biotalys NV (Belgium), Evogene Ltd (Israel), Biolchim S.p.A (Italy), Biobest Group NV (Belgium), Bio-ferm GmbH (Austria), Eden Research plc (England), Russell IPM Ltd (U.K.), AGRIFUTUR srl (Italy), SERBIOS srl (Italy), Action Pin Company (France), Agrauxine (France), Abitep GmbH (Germany), Biofa AG (Germany), e-nema GmbH (Germany), Trifolio-M GmbH (Germany), Idai Nature S.L (Spain), Futureco Bioscience (Spain), Plant Response, Inc. (U.S.), Xtrem Biotech, SL (Spain), and Vegalab SA (Switzerland), among others.
Meticulous Research®, in its latest publication on the ‘Global Agricultural Biologicals Market,’ states that the market is expected to reach $20.81 billion by 2029, at a CAGR of 12.1% during the forecast period 2022 to 2029.
Access Full Report Here: https://www.meticulousresearch.com/product/agricultural-biologicals-market-5314
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