Northbrook, IL 60062 -- (SBWIRE) -- 10/10/2022 -- The global agricultural biologicals market is projected to grow at a CAGR of 11.9% from an estimated value of USD 10.6 billion in 2021 to reach USD 18.5 billion by 2026.

Awareness of organic food products and concerns toward environmental safety and favorable regulations are the key drivers affecting the growth of the agricultural biologicals market. The role of agricultural biological products has become a integral part of integrated pest management practices (IPM) in developed markets, wherein the biological products are used in combination with new synthetic crop chemistries. Strategic developments such as expansions, new product launches, and agreements have been adopted by the majority of key players to strengthen the market.

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By trends, the biocontrols segment is projected to dominate the agricultural biologicals market during the forecast period.

Biocontrols are expected to be a substitute for conventional chemicals due to the increasing regulations on chemical usage and maximum residue levels (MRLs). The pesticides market is expected to decline, owing to their detrimental effect on the living organisms. Biocontrols not only kills the target pests but also aids in minimizing the number of sprays. The ban on the usage of key pesticides will also drive the market for biocontrols market across the regions.

By trends, the bionematicides segment is projected to be the fastest-growing segment in the agricultural biologicals market during the forecast period.

There has been an increase in the loss of agricultural crops due to root-knot nematodes, globally, every year. Currently, the market for bionematicides is not majorly commercialized, but in the coming years, it poses a great scope. The increasing concerns towards preventing the loss caused by soil-borne insects is fueling the growth of the bionematicides market.

By trends, the bioinsecticides segment is projected to be the second-fastest growing segment in the agricultural biologicals market during the forecast period.

With the increasing climatic stress, there has been an emergence of various insects, hampering the growth of the plants, thus resulting in production losses. The application of bioinsecticides can be more beneficial in terms of sustainability and cost-effectiveness as compared to conventional chemicals. Also, the need to prevent crop losses and to adopt sustainability is driving the market for bioinsecticides.

The North American region accounted for the largest share of the market in 2021. Growth in the organics industry, rise in the cost of chemical fertilizers, and increasing awareness for the preservation of soil nutrients are the major driving factors of this market. Growth in the North American region can be attributed to its high-end R&D infrastructure and the high number of patents received for biocontrol and biostimulants by various key companies in the region.

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Key players in the agricultural biologicals market include BASF SE (Germany), Syngenta AG (Switzerland), Marrone Bio Innovations (US), Isagro S.p.A. (Italy), UPL (India), Evogene Ltd (Israel), Bayer AG (Germany), and Vegalab S.A. (US).

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