Agricultural Biologicals Market Is Projected to Reach $12.86 Billion by 2022
The agricultural biologicals market was valued at USD 6.00 Billion in 2016, and is projected to reach 12.86 Billion by 2022, at a CAGR of 13.77% during the forecast period.
Northbrook, IL -- (SBWire) -- 04/30/2019 --The report "Agricultural Biologicals Market by Type (Biopesticides, Biofertilizers, and Biostimulants), Source (Microbials and Biochemicals), Mode of Application (Foliar Spray, Soil Treatment, and Seed Treatment), Application, and Region - Global Forecast to 2022", The agricultural biologicals market is projected to be USD 12.86 Billion by 2022, at a CAGR of 13.77% from USD 6.75 Billion in 2017. As agricultural biologicals ensure low residue load and have an effective action against the targeted pests, these aspects are expected to reduce environmental and health risks to the applicators, and in turn, are projected to have a strong influence on fruits & vegetables in the next five years.
Browse 87 market data Tables and 46 Figures spread through 178 Pages and in-depth TOC on "Agricultural Biologicals Market - Global Forecast to 2022"
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Biopesticides segment estimated to dominate the market with the largest share in 2017
The biopesticides segment is estimated to be the largest type of agricultural biologicals in 2017. The product portfolios of major companies involved in the pesticides industry have focused on the development of bioinsecticides and biofungicides. Some key companies have been entering into R&D agreements to develop innovative biopesticide products for seed treatment; this segment thus occupied the largest share.
Microbials segment is projected to be the fastest-growing market during the forecast period
The microbials segment is projected to grow at the highest CAGR during the forecast period due to the wide use of beneficial microorganisms to help reduce the usage of synthetic fertilizers and chemical pesticides, thereby reducing investment costs of farmers. Microbials also provide essential benefits to crops in terms of efficiency and productivity.
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North American region is estimated to dominate the market in 2017
Decline in trend of the usage of synthetic pesticides and fertilizers in North America for its harmful effects on the environment and increase in the application of integrated pest management are the factors fueling the demand for agricultural biologicals in North America.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as Bayer (Germany), Syngenta (Switzerland), Monsanto BioAG (US), BASF (Germany), and DowDuPont (US).
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