The global agricultural biological market accounted to US$ 7,148.8 Mn in 2018 and is expected to grow at a CAGR of 12.9% during the forecast period 2019 - 2027, to account to US$ 21,141.0 Mn by 2027.
The North America region accounted for the largest market share in the global agricultural biological market. The growth of the agricultural biological market in this region is primarily attributed to a shift of consumer’s preference towards organic food products coupled with rising investments in research and developments activities, favorable government initiatives towards promotion of sustainable practices and increasing health awareness are the major factors driving the market in North America region.
Top Key Players: BASF SE,Biolchim S.p.A.,Certis U.S.A. LLC,DowDuPont Inc.,Isagro S.p.A,Koppert Biological Systems,Marrone Bio Innovations, Inc.,Syngenta,UPL,Valent BioSciences LLC
Increase in adoption of natural products over synthetic products has led to the growth of agricultural biological market
Agricultural biological are increasingly being used as a replacement of synthetic or chemical plant protection products like chemical pesticides, fungicides or insecticides. Agricultural biological products like biopesticides, biostimulants, and biofertilizers serve as a natural product which lead to soil health development, plant’s disease control, enhancement of nutrient uptake, plant growth enhancement, and various others. The demand for agricultural biological products is growing over other synthetic products owing to its minimal costs, low environmental impacts, and a low risk of product resistance towards the pests.
Rising demand of healthy food products in Asia Pacific region will create growth opportunities for the global agricultural biological market
Growing awareness and demand for healthier crop food products in the developed counties such as China, India, Japan, and South Korea have promoted the manufacturers to produce agricultural biological products. Also, developing nations in the Asia Pacific exhibit huge potential and growth prospects for the agricultural biological products due to change in lifestyle, rise in middle-class population, growth in disposable income and an increase in awareness about healthier products.
The global agricultural biological market is bifurcated on the basis of source into microbial, biochemicals, and others. The microbials segment accounted for the largest share in the global agricultural biological market. Microbials are small bacterial and fungal organisms which can be categorized into fungi, bacteria, viruses, protozoa, etc. It improves the soil’s nutrient uptake, offering insect control for protection against diseases, and enhance yield. It helps in absorption of essential nutrients like nitrogen, potassium, phosphorus, and sulphur, and are widely known for solving fundamental agricultural problems such as plant health control, crop productivity, and soil’s health maintenance along with environmental concerns such as soil and water bioremediation from inorganic and organic contaminants.
Merger and acquisition, new product development and others were observed as the most adopted strategies in global agricultural biological market. Few of the recent developments in the global agricultural biological market are listed below:
BASF SE completed the acquisition of Bayer AG in order to strengthen its seed platform and complements the recently expanded agricultural solutions portfolio.
Koppert Biological Systems recently announced the introduction of its new NatuGro System in the California strawberry market.
Marrone Bio Innovations, Inc. launched TerraConnect which is a new global biological soil applied and seed treatment platform and delivers growers high performance products as well as a broad range of valuable tools to improve and protect crops.
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