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Agricultural Biologicals Market: Market Segments: By Type (Biopesticides, Bio-Stimulants, Biofertilizers and Others); By Source (Microbials, Biochemicals and Others); By Crop type (Cereals, Vegetables and Fruits, Pulses, Oilseeds and others); By mode of Application (Foliar Sprays, Soil Treatment, Seed Treatment and others) and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Agricultural Biologicals Market to surpass USD 32.1 billion by 2030 from USD 7.61 billion in 2019 at a CAGR of 14% throughout the forecast period, i.e., 2019-30.
Agricultural biologicals refer to crop protection products derived from nature including plants, insects, microorganisms, and other organic matter. Agricultural biologicals protect the plants from various diseases and pests that cause plant destruction. Biologicals are of three types: biostimulants, biopesticides, and infertility. Biologicals can be applied directly to plants or the soil. The application of biologicals enhances the fertility, quality, and productivity of crops. It enables farmers to grow healthy and affordable feed and food products for consumers. Biological products are the fastest-growing segment in agriculture. Many agricultural communities are utilizing these products to establish sustainable farming. To fulfill the demand of a growing population for food the agricultural biologicals offer a sustainable approach to producing sufficient crops.
The global Agricultural Biologicals market is estimated to grow due to the rising awareness among farmers and the growing tendency towards sustainable agriculture. Change in the lifestyle of consumers coupled with escalating demand for organic food, rising pest outbreaks are the major reasons responsible for the growth of the market.
The Global Agricultural Biologicals market is segmented by type into biopesticides, bio-stimulants, biofertilizers, and others. The biopesticides segment held the largest market share of XX.X% in the year 2019. The demand for biopesticides is increasing owing to rising incidences of pest infestations which are damaging the major crops including rice, wheat, and sugarcane. Biopesticides are cost-effective and can be efficient in micro quantities.
The Global Agricultural Biologicals market is divided by Source into Microbials, Biochemicals, and Others. Microbials, the segment held the largest market share of XX.X% in the year 2019 and will continue to dominate the market throughout the forecast period. The application of microbial enables the farmers to solve several agricultural problems such as increasing productivity of crops, crop protection, and maintaining soil health. Besides, specific technical knowledge is not required for using microbial.
Global Agricultural Biologicals Market is bifurcated by mode of application into Foliar Sprays, Soil Treatment, Seed Treatment, and others. Foliar sprays segment held the largest market share of XX.X% in the year 2019 owing to its increasing adoption by farmers as it is convenient to use. Foliar sprays provide various agronomic benefits due to which their application is rising. Besides, it helps to absorb the nutrients easily and effectively to trace elements.
Increasing Demand for Organic Food
Rising awareness of consumers toward organic products is the key factor responsible for agricultural biological market growth. Chemicals used in the production of agricultural output are harmful to humans as well as to the environment. Agricultural biologicals are chemical-free and eco-friendly and they produce less harmful residues due to which they are a vital part of organic farming.
Rising Instances of Pest Infestations
The need for protecting the farm output from pests outbreaks and the demand for superior quality yields are expected to expand the global agricultural biological market. Pest insects hurt agricultural output as they damage or destroy crops and food production. Furthermore, the effect lifestyle of consumers and are a health hazard to humans owing to which the demand for agricultural biologicals is mounting.
Low Shelf Life
Low shelf life along with low adoption rates of biopesticides is anticipated to hamper the global agricultural biologicals. Additionally, a lack of awareness among farmers may hinder the market over the forecasting period.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Agricultural Biologicals Market in the Asia Pacific held the largest market share of XX.X% in the year 2018. North America will continue to dominate the global Agricultural Biologicals market owing to stringent regulations of government regarding the utilization of chemical fertilizers. Other factors including a shift toward sustainable agriculture and changing preference of consumers toward organic farming in this region are projected to bolster the agricultural biologicals market.
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