The agricultural biologicals market was valued at USD 6.00 Billion in 2016 and is projected to reach 14.65 Billion by 2023, growing at a CAGR of 13.80% from 2017.
Northbrook, IL -- (SBWIRE) -- 06/11/2018 -- The report "Top Trends in the Agricultural Biologicals Industry: Biopesticides (Biofungicides, Bioinsecticides, Bionematicides), Biostimulants, Biofertilizers, Agricultural Inoculants, and Biological Seed Treatment - Global Forecast to 2023", The agricultural biologicals market is projected to grow at a CAGR of 13.80% from USD 6.75 Billion in 2017 to reach USD 14.65 Billion by 2023.
Browse 65 market data Tables and 57 Figures spread through 177 Pages and in-depth TOC on "Top Trends in the Agricultural Biologicals Industry - Global Forecast to 2023"
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The market is driven by factors such as the growth prospects of organic food, a favorable framework for agricultural, and the impact of these pesticides in achieving sustainable agriculture.
Bionematicides is estimated to be the most important among the top trends in the agricultural biologicals market
Bionematicides is the fastest-growing trend in the agricultural biologicals market. Even though the bionematicides market is niche, it is characterized, at present, by low competition due to limited product differentiation and high adoption barriers. Sustainable environmental initiatives along with the adoption of biologicals, the increasing growth of the biological seed treatment solutions, and the utilization of integrated pest management techniques are some of the major driving factors for this trend.
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Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market
Bioinsecticides stands second in terms of the fastest-growing trends from 2017 to 2023. The increased level of pest attacks due to climatic changes and rise in the demand for biological pest control know-how results in the growth of the bioinsecticides market. The market is further driven by factors such as technology and product development of innovative bioinsecticides that can be cost effective as well as used on a broad crop portfolio. Bioinsecticide formulations are widely used in North America with the demand for bioinsecticides increasing among countries producing wheat, potato, rice, strawberry, and tomato, which normally face strong insect infestation.
Significant competition to capitalize on the market potential among international manufacturers in Europe and the Americas
The need to maintain the minimum residual level in food products and high-growth prospects for organic food have been driving the agricultural biologicals market growth in these regions.
The market is also influenced by the adoption of modern agricultural practices along with the regulatory support for a sustainable approach to limit excessive agrochemical application. This has further promoted the growth in developing markets, especially in the Asia Pacific and South America.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF (Germany), Bayer CropScience (Germany), Marrone Bio Innovations (US), Monsanto BioAg (US), Valent BioSciences (US), Koppert (Netherlands), and Certis USA (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include DowDuPont (US), Syngenta (Switzerland), Stockton Group (Israel), Verdesian Life Sciences (US), and Rizobacter Argentina (Argentina).
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