Northbrook, IL 60062 -- (SBWire) -- 01/04/2024 --A recent research report titled "Top Trends in the Agricultural Biologicals Market" by MarketsandMarkets forecasts a robust growth trajectory for the agricultural biologicals market, projecting a CAGR of 13.7%. The market is anticipated to surge from an estimated value of USD 14.7 billion in 2023 to reach USD 27.9 billion by 2028.
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Key Highlights:
Driving Forces for Growth:
- Rising awareness of organic food.
- Growing concerns about the risks associated with chemical usage.
- High demand for valuable crops.
- Increased awareness of residue levels in food.
- Favorable regulatory frameworks.
Bio Nematicides Leading the Trends:
- The most significant trend in the agricultural biologicals market is the rapid growth of bio nematicides.
- Nematodes pose a serious threat to crops, and bio nematicides are gaining importance for effectively controlling them without harming plant growth.
- Crop protection chemicals and ingredients targeting nematodes are driving the growth of this market segment.
Bioinsecticides Emerging Strong:
- Bioinsecticides are identified as the second-most important trend, driven by increasing awareness of agricultural technology and a growing incidence of pest attacks.
- Insects pose a significant threat to high-value crops, leading to strong infestations and heightened demand for bioinsecticides.
- North America is particularly witnessing a surge in bioinsecticide demand due to environmental concerns associated with synthetic pesticides.
Competition and Market Potential in Europe and the Americas:
- Europe and the Americas witness intense competition among international manufacturers in the agricultural biologicals sector.
- Factors such as stringent regulations on chemical pesticide use, consumer demand for sustainable and organic products, and government initiatives supporting environmentally friendly agricultural practices contribute to the market potential.
- Leading companies in this market include BASF SE, Bayer AG, UPL, Pro Farm Inc., Corteva AgriSciences, Valent BioSciences, Koppert Biological Systems, and Certis USA LLC.
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Global Players and Strategies:
- International manufacturers are adopting marketing and development strategies to leverage market potential in Europe and the Americas.
- Established players include BASF SE, Bayer AG, UPL, Pro Farm Inc., Corteva AgriSciences, Valent BioSciences, Koppert Biological Systems, and Certis USA LLC.
- Other key players include Valagro S.P.A., Syngenta AG, Stockton Bio-AG, Valent BioSciences, and Rizobacter.
As the agricultural biologicals market continues to evolve, driven by sustainability concerns and a shift toward organic farming, the industry is poised for substantial growth, offering lucrative opportunities for global players.
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Agricultural Biologicals Market Poised for Remarkable Growth, Projected to Reach $27.9 Billion by 2028
Top Trends in the Agricultural Biologicals Market by Agricultural Biologicals, Biocontrols, Bio fungicides, Bioinsecticides, Bio nematicides, Biostimulants, Biofertilizers, Inoculants, Pheromones, Biological Seed Treatment - Global Forecast to 2028