Agricultural Biologicals Market (Application - Cereals and Grains, Fruits and Vegetables, Oilseeds and Pulses and Others; Product - Biopesticides, Biofertilizers, and Biostimulants; Source - Microbials, Biochemicals, and Others): Global Industry Analysis, Trends, Market Size and Forecasts to 2024. The global agricultural biologicals market is projected to grow at a CAGR of 13.5% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 05/22/2020 -- Biological products are one of the fastest-growing segments in agricultural inputs. Agricultural biologicals are a miscellaneous group of products derived from naturally occurring microorganisms, plant extracts, beneficial insects or other organic matter. Infinium global research has recently published a global report on "Agricultural Biologicals Market" (Application - Cereals and Grains, Fruits and Vegetables, Oilseeds and Pulses and Others; Product - Biopesticides, Biofertilizers, and Biostimulants; Source - Microbials, Biochemicals, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024" published by Infinium Global Research", the reported study estimated the market for agricultural biologicals market will reach up to 16.3 billion by 2024, with a Compound Annual Growth Rate of 13.7%, in the forecast period (2018-2024).
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High Interest of Market Players to Develop Bionematicides
Bionematicide is the fastest-growing trend in the agricultural biologicals market as nematodes are a long-lasting problem throughout the growing season, and several chemical and biological measures are being explored to control the growing nematode menace. Biological controls using Paecilomyceslilacinus and Pasteurianishizawae are efficiently used to control nematodes in the US and Europe.
There has been a significant interest among the global players to develop and include bionematicides in their portfolio even though it is a niche market. According to the FAO, agricultural biologicals possess various agronomic and environmental benefits. For instance, regular infusion of crop residue upsurges the organic content of the soil, increases soil quality and structure, and aids water conservation.
Food Needs of a Growing World Population and Consumer Interest in Organic Products are Set to Drive the Global Market
The growth of the agricultural biologicals market is driven by factors such as the necessity for innovations to meet the food needs of a growing world population, consumer interest in organic products, the rising demand for agricultural sustainability, weed and insect resistance to chemicals used in agriculture and concerns about the environmental impacts of current agricultural practices. It is used throughout the world with a wide range of fruits, vegetables, and tree-nuts, as well as row and field crops.
Agricultural biologicals are versatile and work in both organic and conventional crop production systems. On the other side, the efficacy issues of agricultural biological products are restraining market growth. Moreover, the increase in demand for organic products and a rise in costs of pesticides and fertilizers are anticipated to provide growth opportunities to the market players.
Manufacturers Adopting Expansion, Acquisition & Partnership Strategies
Recently, In May 2018, US biological crop protection company Omnia Holdings Limited has acquired to the Cayman Islands-based biologicals business of Oro Agri SEZC Limited to expand its sales and marketing capabilities in agricultural markets around the world. Furthermore, in April 2018, the US biopesticide company Marrone Bio Innovations (MBI) has partnered with Israeli crop protection supplier Lidorr Chemicals to distribute a range of novel biopesticides such as REYSANA™ Biofungicide, MAJESTENE® Bionematicide and VENERATE® Bioinsecticide for sustainable farming in Israel. Moreover, in April 2018, Israeli Biopesticide Company STK and BASF have signed a collaboration agreement in Brazil for STK's biofungicide, Timorex Gold.
The North America Region is the Most Lucrative Region for the Agricultural Biologicals Industry
Among the regions, North American accounted for the largest share of the agricultural biologicals market in 2018. The largest share of this region is attributed to its high-end R&D infrastructure and the high number of patents received for biopesticides and biostimulants by companies based in the region. Europe is the second-largest market for the agricultural biologicals owing to enhanced quality outcomes, increased yield and productivity, and growing demand for organic products. Countries such as Italy and Spain hold a significant share of the market in the region.
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Global Agricultural Biologicals Industry Coverage
Chapter - 1 Preface
=> Report Description
=> Research Methods
=> Research Approaches
Chapter - 2 Executive Summary
Chapter - 3 Global Agricultural Biologicals Market Overview
=> Market Dynamics
=> Porter's Five Forces Analysis
=> IGR-Growth Matrix Analysis
Chapter - 4 Global Agricultural Biologicals Market by Application
=> Cereals and Grains
=> Fruits and Vegetables
=> Oilseeds and Pulses
Chapter - 5 Global Agricultural Biologicals Market by Product
Chapter - 6 Global Agricultural Biologicals Market by Source
Chapter - 7 Global Agricultural Biologicals Market by Region 2018-2024
=> North America
Chapter - 8 Competitive Landscape in the Global Agricultural Biologicals Market
=> Bayer CropScience AG
=> Isagro SPA
=> BASF SE
=> Valent BioSciences
Browse in-depth TOC on https://www.infiniumglobalresearch.com/agriculture/global-agricultural-biologicals-market
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