Increasing pest resistance to specific products and rising awareness regarding harmful effects of synthetic plant protection products are major factors driving revenue growth of the market
Market Size – USD 8.9 Billion in 2020, Market Growth – at a CAGR of 13.5%, Market Trends –Rising demand for high quality yield from farm produce
The global Agricultural Biologicals Market size is expected to reach USD 27.6 Billion by 2028 and register a CAGR of 13.5% over the forecast period, according to a latest report by Reports and Data. Rising preference for various types of organic products, rapid adoption of biologicals in farming and agriculture, increasing awareness regarding the harmful effects of synthetic plant protection products, and high development costs of various synthetic crop protection products are some major factors support market revenue growth.
Agricultural biologicals are derived from natural sources such as plant extracts, microorganisms, beneficial insects, and other organic matter. They generally do not leave any harmful residue on crops, and are considered safe. Rising awareness among farmers regarding benefits of biologicals has augmented e demand for these products, which is contributing significantly market revenue growth. Increasing applications of agricultural biologicals in various developing countries is expected to open up high revenue opportunities for various players in the market between 2021 and 2028.
However, various environmental concerns and cost related issues are hamper growth of the agricultural biologicals market to a certain extent going ahead.
Major companies operating in the market are Syngenta (Switzerland), BASF SE (Germany), Marrione Bio Innovation (US), UPL (India), Isagro (Italy), Evogene (Israel), Vegalab (US), and Bayer (Germany).
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Some key findings from the report
The biopesticides segment accounted for a significant revenue share in the market and is expected to continue its dominance over other segments in this category during the forecast period. This can be attributed to rising use of biopesticides instead of a variety of conventionally used and potentially harmful chemical-based pesticides and fertilizers.
Based on application, the market has been segmented into oilseeds & pulses, cereals & grains, and fruits & vegetables. The cereals & grains segment revenue has been steady, owing to these being on staple diets among consumers across the globe, and this trend is expected to continue over the forecast period.
Rising demand for various types of organic products worldwide, enhanced productivity and improving crop yield, rising costs of fertilizers and pesticides, and increasing global population are factors driving growth of the market.
Asia Pacific market is predicted to experience significant revenue growth going ahead, owing to increasing need for organic food products and government initiatives to promote better environment.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/agricultural-biologicals-market
For the purpose of this report, Reports and Data has segmented the global agricultural biologicals market on the basis of function, product type, mode of application, crop type, and region:
Function Outlook (Revenue, USD Billion, 2018 - 2028)
Product Type Outlook (Revenue, USD Billion, 2018 - 2028)
Mode of Application Outlook (Revenue, USD Billion, 2018 - 2028)
Crop Type Outlook (Revenue, USD Billion, 2018 - 2028)
Cereals & grains
Oilseed & pulses
Fruits & vegetables
Other crop types
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
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Sr. Research Analyst at Reports and Data