Agricultural BiologicalsMarket Overview
Biological farming is an economically and environmentally sustainable agricultural production system that encourages the use of safe products for crop treatment. This is achieved by minimizing ecologically harmful consequences and using non-renewable natural resources.Agricultural biologicals are biochemicals or microorganisms that are derived from natural sources such as plants, animals, or microbes. They are considered relatively safe and do not leave the residues on the crops and apart from protecting, they are also capable of enhancing the overall fertility and productivity of the crops
Market Size and Forecast
The agricultural biologicals market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, source, mode of application, crop type, and region. Among product types, biopesticides segment accounted for the largest market share in the agricultural biologicals market. This achievement is attributed to the rising inclination of farmers towards the development of pest resistance products for crops that will eventually increase the yield of quality crops. Budding development in the fields of organic farming and the increasing demand for organic products is further boosting the demand globally. Furthermore, the escalating interest of agriculture industry stakeholders in pest management and adaptation of safer strategies for pest control are other key factors driving the biopesticides market growth. Biofertilizers comprises of living microorganisms that help to promote the plant growth. Biostimulants also improve resistance to abiotic stresses in plants or soil to improve the overall quantity and quality of crops.
Based on the mode of application, the foliar spray segment is leading the market in terms of value owing to less volume required for foliar application as compared to soil application and its quality of increasing the nutrient supply during the early growth stages, when the root system is not properly developed. By crop type, the fruits & vegetable segment is dominating the global market on account of its growing demand among farmers attributed by various agronomic benefits offered by them. Higher demand for organic seasonal and continental fruits are supporting the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
Growing demand for organic food leading to a global rise in organic farming
Agricultural biologicals are anticipated to play a crucial role in catering to the rising demand for organic products globally. The exploitation of the environment due to the overuse of crop protection chemicals is fostering the demand for biological products. This technology is not only restricted to protecting crops and increasing the crop yield but it also gives an assurance of sustainable farming and preserving soil fertility for a longer period.
Further, growing investment opportunities by major international market players in the development of crop protection ingredients and products for crop nutrients, made using natural resources, are also expected to benefit the market growth significantly during the forecast period.
The agricultural sector is poorly affected by the COVID19 outbreak that has compelled all businesses to come at a halt. However, crop cultivation and irrigation have managed to survive in developing countries such as Pakistan, India, South Africa, China, and others, especially in India where the agriculture sector is one of the major contributors to their GDP.
Furthermore, the technological advancements in the existing pest control management, growing demand for better yield & quality of crops, decrease in labor costs, rising costs of pesticides and fertilizers, rapid growth in the use of microbial seed treatment products, and easier residue management supplement the overall market growth in the forecast period.
Limited availability of the agricultural biologicals, the low shelf life of the products, disrupted supply chain due to the COVID 19 outbreak, lack of awareness are some of the key market restraints that are expected to hamper the overall market growth in the forecast period.
Our in-depth analysis of the agricultural biologicals market includes the following segments:
By Mode of Application
By Crop Type
Geographically, the agricultural biologicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is one of the most significant regions in the world for agricultural biologicals market along with Europe. It dominates the global market. The U.S. leads the regional market, owing to strict regulations regarding the usage of chemical fertilizers. Additionally, high-end R&D set-up, a high number of patents received for biopesticides and biostimulants by companies based in the region, growing export trade, and major key players situated in the region, further display growth opportunities for the agricultural biologicals market.
In European regions, the agricultural biologicals market is expected to nurture at the fastest growth rate in the coming years owing to the government regulations supporting the use of organic products,improved quality outcomes, improved yield & productivity, soaring demand for organic products, and adoption of modern technology for agriculture.
The Asia Pacific market is anticipated to register substantial growth in the global market over the forecast period. Factors, such as government initiatives and investments for better environment and advanced farming equipment, the necessity of high-quality agricultural yield, rising import & export situation, along with the increasing population in the region, are the key contributors for the growth in this region. Furthermore, the agro-climatic conditions and a high proportion of available agricultural land in countries such as China, Japan, and India are predicted to drive the growth of the market in the region.
The market in the Middle East and African regions are also expected to witness significant growth opportunities majorly due to strong government support policies.
However, in developing countries such as India, China, South Africa, Pakistan, and others, the economic slowdown triggered due to the COVID 19 pandemic can upset the overall agriculture sector and supply chain management.
The agricultural biologicals market is further classified based on region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
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