The global agriculture biologicals market accounted for a value of 8.2 billion in 2019 and is projected to register growth at a CAGR of 10.9% during forecast period.
COVID-19 has impacted the agriculture biological market however, the impact is not significant. The manufacturing plants are operating and there is no significant impact on supply chain of agriculture biologics market. The availability of laborers is very less on the farm and demand for food is constantly increasing and this leads to high adoption of biologicals. Due to spread of corona virus people are adopting healthy lifestyle which leads to high demand for reside free crops. Agriculture biologics market is not significantly impacted and it is likely to foresee growth in coming years.
For more details, visit: Global Agriculture Biologicals Market By Function (Biostimulants, Biofertilizers, Others), By Product Type (Microbials, Others.), By Crop Type (Cereals & Grains, Others), By Mode of Application, By Region, Forecast & Opportunities to 2026
The trend for sustainable agriculture is the market is increasing around the world. It provides low residue levels in the crops. The demand for safer and greener crops protection technologies is increasing around the world. The adoption of agriculture biologicals is increasing and this drives growth in agriculture biologicals market during forecast period.
On the basis of function, the agriculture biologicals market is segmented into biocontrol, crop protection, crop enhancement, biostimulants and biofertilizers. The biocontrol segment is estimated to be fastest growing segment during forecast period. The biocontrol includes bioinsecticides, biofungicides, biopesticides and bionematicide. The demand for biocontrol is increasing due to increased instances of pest infestations on various crops such as corn, rice, wheat and sugarcane etc. The biocontrol methods are cost effective and efficient and the adoption of biocontrol is increasing. This drives growth in iocontrol segment during forecast period.
On the basis of corp type, the agriculture biologicals market is segmented into macroindicators, cereals & grains, oilseeds & pulses, fruits & vegetables and others. The fruits & vegetables segment is estimated to dominate market during forecast period. The demand for organic fruits & vegetables is increasing around the world which leads to increase in usage for biocontrol products in order to increase the yield. Fruits & vegetables are widely adopted around the world and the demand for this segment is increasing largely which needs the use of agriculture biologics for safer and residue free crops. The increasing demand for organic fruits & vegetables drives growth in this segment during forecast period.
On the basis of mode of application, the agriculture biologicals market is segmented into soil treatment, foliar spray and seed treatment. The foliar spray segment is estimated to dominate the market during forecast period. The foliar spray is most widely adopted way of applying biological to the crops and plants. They are more effective and it directly affects the leaf that helps in easy absorption of nutrients and trance elements. Small farmers usually prefer foliar spray method. This dries growth in foliar mode of application during forecast period.
North America region is estimated to grow at highest CAGR during forecast period. There is presence of various global agriculture product manufacturing companies in this region and the agricultural practices are evolving rapidly. The adoption latest technologies for farming are widely increasing in this region. The research & development is constantly growing and government is also supporting sustainable farming in this region. This drives growth in North America region in agriculture biological market during forecast period.
The key market players in agriculture biologicals industry are Basf SE, Isagro S.P.A., Syngenta Crop Protection AG, Bayer AG, UPL, Marrone Bio Innovations, Evogene Ltd., Vegalab S.A., Lallemand, Vallent Biosciences, Stockton Bio-AG, Biolchim S.P.A, Rizobacter, Valagro, Koppert Biological Systems, Symborg, Seipasa, Biobest Group Nv, and Andermatt Biocontrol AG.
- What are the expected industry trends over the next three to five years?
- Which of the agriculture biologicals function is likely to lead by 2026?
- Which of the mode of application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?