Redding, California - August 30, 2024
Agricultural Biologicals Market to Reach $26.81 Billion by 2031
Agricultural Biologicals Market Size, Share, Forecast, & Trends Analysis by Product Type (Biopesticides, Biostimulants, Biofertilizer), Source (Microbial, Biochemical), Formulation (Dry), Mode of Application, (Fruits & Vegetables) - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled, ‘Agricultural Biologicals Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research®, the agricultural biologicals market is expected to reach $26.81 billion by 2031, at a CAGR of 12.9% from 2024 to 2031.
The expansion of organic farming, the rising demand for organic food, heightened awareness of environmental sustainability, increased governmental initiatives promoting biopesticides, and growing investments by leading industry players contribute to the growth of the agricultural biological market. However, the lack of education and awareness among farmers and regulatory and financial hurdles for new entrants are impeding the market's growth to some extent.
Additionally, the agricultural diversity and availability of arable land in emerging markets, combined with the increasing adoption of advanced farming practices and technologies, present growth opportunities for stakeholders operating in this market. Nevertheless, the substantial challenge faced by stakeholders in this market is the lengthy product registration & approval processes.
Key Players:
The agricultural biologicals market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the agricultural biologicals market are Gowan Company LLC (U.S.), Vegalab SA (Switzerland), Bayer AG (Germany), BASF SE (Germany), Koppert B.V. (Netherlands), FMC Corporation (U.S.), The Stockton (STK) Group (Israel), IPL Biologicals Limited (India), InVivo Group (France), Biolchim Group (Italy), Seipasa S.A. (Spain), Syngenta AG (Switzerland), Corteva, Inc. (U.S.), Novonesis Group (Denmark), Andermatt Group AG (Switzerland), Certis U.S.A. LLC (U.S.), Som Phytopharma India Limited (India), Valent U.S.A. LLC (U.S.), W. Neudorff GmbH KG (Germany), Rizobacter S.A. (Argentina), Lallemand Inc. (U.S.), and UPL Limited (India).
The agricultural biologicals market is mainly segmented by product type (biopesticides {Bioinsecticides, biofungicides, bionematicides, bioherbicides, and other biopesticides}, biostimulants, and biofertilizers), source (microbial {bacteria, fungi, viruses, and other organism}, biochemical, and other sources), formulation (liquid and dry), mode of application (foliar spray, soil treatment, seed treatment, and other modes of application), crop type (fruits & vegetables, cereals & grains {Corn, Wheat, Rice, other cereals & grains}, oilseeds & pulses, and other crop types), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.
By product type, in 2024, the biopesticides segment is anticipated to hold the dominating position with a share of 52.7% of the agricultural biologicals market. This dominant share of biopesticides is primarily due to factors such as increased government support, improved crop quality and yield through biopesticide use, the expansion of organic cultivation and demand for organic food, rising investments from leading crop protection companies, and increased awareness of environmental sustainability.
By source, in 2024, the microbials segment is anticipated to hold the dominating position with a share of 60.5% of the agricultural biologicals market. This major share of the segment is primarily due to microbials' increasing selectivity and effectiveness, minimal adverse effects on people, pets, or plants, and ease of use. Furthermore, the demand for microbials is expected to grow given their ease of handling and short re-entry and post-harvest times.
By formulation, in 2024, the liquid agricultural biologicals segment is anticipated to hold the dominating position with a share of the agricultural biologicals market. The large share of the segment is attributed to several benefits, such as higher efficacy, easier application that is more uniform, and a longer duration of action (up to six months as opposed to three months for dry formulations). Furthermore, the growing significance of liquid agricultural biologicals in cutting-edge irrigation technologies—like sprinkler and drip watering systems, which reduce obstructions—is propelling this segment's growth.
By crop type, in 2024, the fruits and vegetables segment is anticipated to hold the dominating position in the agricultural biologicals market. The growing worldwide output of fruits and vegetables, the escalating frequency of diseases affecting these crops, and the growing preference from consumers for chemical-free organic products are the drivers of this large segment share.
By mode of application, in 2024, the foliar spray segment is anticipated to hold the dominating position with a share of 70.3% of the agricultural biologicals market. This segment's dominance is due to its benefits, such as consistent biochemical dispersion, effective application of biopesticides, and minimal biological waste.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Germany, Italy, U.K., Netherlands, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, South Korea, Indonesia, Philippines, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Chile, and Rest of Latin America), and the Middle East & Africa.
By geography, in 2024, Europe is anticipated to hold the dominating position with a share of 35.6% of the agricultural biologicals market. This large share is due to rising demand for organic products, increased government support, a preference for natural products, and growing health consciousness.
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale of agricultural biologicals?
- At what rate is the global demand for agricultural biologicals projected to grow for the next five to seven years?
- What is the historical market size and growth rate for the agricultural biologicals market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, source, formulations, mode of application, and crop type segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the agricultural biologicals market?
- Who are the major players in the agricultural biologicals market? What are their specific product offerings in this market?
- What recent developments have taken place in the agricultural biologicals market? What impact have these strategic developments created on the market?
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