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The global agricultural biologicals market size was valued at USD 7.42 billion in 2018 and is projected to reach USD 20.59 billion by the end of 2026, exhibiting a CAGR of 13.68%.
Increasing incidences of pest outbreak in crops, rise in awareness and demand for supreme quality yield from farm produce, and development of pest resistance to some of the plant protection products are some of the major factors that are contributing to the growth of the market. The exploitation of environment due to overuse of crop protection chemicals is fostering the demand for biological products that can be applied solely or as a complement with synthetic pest resistance chemicals, which is further projected to aid the agricultural biologicals market growth in the upcoming years.
Furthermore, stringent regulations by agricultural product regulatory bodies and agencies on the use of excessive amount of synthetic or chemical fertilizers are expected to drive the growth of market. Increasing investment by key international market players in the development of crop protection substances and crop nutrition products made by using natural sources (due to the growing demand for organic products) is expected to benefit the market significantly during the forthcoming years.
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The future of agricultural biologicals is anticipated to be promising and continued benefits are expected in the upcoming years. Continuous efforts by market players such as Marrone Bio Innovations Inc., BASF, and Bayer AG to develop and launch bio-products by using a variety of vital microbial strains and biochemicals are expected to further enhance the agricultural biologicals market revenue.
Low shelf-life of the products may hamper the development and commercialization of agricultural biologicals during the forecast years.
"Biopesticides have Accounted for Largest Market Share and are Projected to Witness High CAGR"
The biopesticides accounted for largest market share in the agricultural biologicals market, owing to increasing focus of farmers and agriculturists towards the development of pest resistance products for crops in order to increase the yield of quality crops. Enhancement in the area under organic farming and growing demand for organic products is further boosting the demand for pesticides across the globe. The increasing interest of agriculture industry stakeholders in pest management and the adoption of a safer strategy to manage pest population are some of the major driving factors for biopesticides market growth.
Among sources, the microbial segment holds the major share in the market and is expected to retain its dominance throughout the forecast years, owing to increasing adoption of microbial by farmers in order to solve various major agricultural issues, such as protection of plants, maintenance of soil health, and increase in crop productivity. Increasing research on various microbes that have the potential to play significant roles in crop protection is further expected to boost the growth and demand of microbial for the preparation of agricultural biologicals during the forecast period.
"Foliar Application to Dominate the Agricultural Biologicals Market"
On the basis of the application method, the market has been classified into foliar spray, soil treatment, seed treatment, and others. In 2018, foliar spray accounted for the highest share in the market. Application of agricultural biologicals through foliar spray offers various agronomic benefits and is the most adopted method due to the convenience offered by it. The foliar spray segment is expected to increase by an impressive CAGR of 14.49% during the forecast period, due to its growing adoption by large as well as small scale organic as well as conventional farmers.
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"Agricultural Biologicals Usage in Fruits and Vegetable Production is Projected to Dominate the Market"
By crop, the market is classified into row crops, fruits & vegetables, and others. Fruits & vegetable segment is expected to retain its dominance throughout the forecast years in the market, owing to its growing demand across the globe attributed by various health benefits offered by them. High demand for organic seasonal and continental fruits and vegetables especially across developed economies is expected to increase the demand for agricultural biologicals in the production of different fruit & vegetable varieties. Agricultural biological products use in the row crops segment which includes, cereals, pulses, and others are projected to witness a CAGR of 13.71% in the global agricultural biologicals market during the forecast period.
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"North America is the Largest Market for Agricultural Biologicals and South America is Projected to Grow at the Fastest Pace"
North America and Europe are the two largest markets for agricultural biologicals, cumulatively accounted for approximately 60% of the agricultural biologicals market share. The market size in North America and Europe is expanding considerably, owing to stringent regulations on the use of various synthetic crop protection chemicals to safeguard the environment. The availability of advanced agricultural product development technologies, equipment, and other resources in the developed regions of Europe and North America is further expected to boost the market growth of the regions during the foreseeable years.
The growing number of organic farms in prominent economies, such as the U.S. and Mexico is projected offer further opportunities for players in the market. According to the United States Department of Agriculture (USDA), the U.S. organic certified farms and businesses grew by a whopping annual growth of 13% during the year 2015 and 2016.
North America Agricultural Biologicals Market, 2018
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South America is emerging as the fastest-growing market and the region is projected to offer strong growth opportunities to the players in the market during the forecast period. Countries such as Argentina and Brazil, where the area under organic farming is growing at a rapid pace is expected to contribute crucially in fostering the South America agricultural biologicals market growth. According to the Research Institute of Organic Agriculture (FiBL), in 2017, Argentina was recognized as the second country with the highest share in global organic agricultural land (3.4 million hectares), after Australia.
"Launch of an innovative and high-quality product is a key strategy for growth in the market"
Launch of products that satisfies various criteria and standards set by different regional and governmental regulatory authorities or agencies (to commercialize the product) is the key strategy adopted by the players operating in global agricultural biologicals market, wherein they are actively investing in R&D activities in collaboration with governmental organizations and agricultural research universities to develop advanced and high-quality products for applications across different crop varieties.
Agricultural Biologicals are naturally occurring microorganisms or biochemicals derived from plants that are efficient in protecting the crops from various plant diseases and a variety of pests causing destruction of plants. These biological tools along with protecting plants from diseases can also enhance the overall fertility and productivity of the crops. These advanced agricultural biological technologies are crucial components in the integrated pest management concept. These products can also be used as complementary products with synthetic pest-resistant and other plant protection chemicals to obtain the desired level of crop protection and avoid plant diseases.
Agricultural biologicals are projected to play a vital role in catering the growing demand for organic products across the globe. High adoption of this technology is not only limited to protecting crops and increasing the crop yield significantly but also an assurance of sustainable farming and maintenance of long-term soil fertility achieved by using natural resources. Low awareness about agricultural biologicals in some countries, coupled with the limited availability of quality products are expected to suppress the agricultural biologicals market growth.
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The report provides qualitative and quantitative insights on the market and detailed analysis of the agricultural biologicals market size & growth rate (in terms of value) for all possible segments in the market. The market is segmented by type, source, application method, crop, and geography. On the basis of type, the global market is categorized into biopesticides, biostimulants, and biofertilizers. On the basis of source, the market is categorized into microbial and biochemicals. On the basis of the application method, the global market is categorized into foliar spray, soil treatment, and seed treatment, and others. On the basis of crop, the agricultural biologicals industry is categorized into row crops, fruits & vegetables, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the agricultural biologicals market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, new product innovations and launches, the regulatory scenario in key countries, and key industry trends.
By Application Method
Fortune Business Insights says that the agricultural biologicals market size was valued at USD 7.42 Billion in 2018 and is projected to reach USD 20.59 Billion by 2026.
Fortune Business Insights says that the global agricultural biologicals market was valued at USD 7.42 Billion in 2018.
The agricultural biologicals market is projected to grow at a CAGR of 13.68% during the forecast period (2019-2026).
Biopesticides is the leading segment among by-type in the agricultural biologicals market.
Growing demand for environmental friendly crop protection and nutrition products in the cultivation of crops along with stringent government policies to prevent hazardous effects of synthetic chemical pesticides are the key factors driving the agricultural biologicals market.
Bayer CropSceince, Syngenta, UPL, BASF, Marrone Bioinnovations, Koppert B.V., and Valent Biosciences are the key active players in the agricultural biologicals market.
North America and Europe are expected to hold around 60% of the global revenue from the agricultural biologicals market.
Increasing incidences of pest outbreaks in crops and development of pest resistance to some of the plant protection products are the factors expected to drive the adoption of agricultural biologicals.
Fruits and vegetable crop category dominate the use of agricultural biologicals.
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