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Agricultural Biologicals Market to Exhibit a CAGR of 14.35% from 2024 to 2032; Market Value to Rise Due to the Surging Production of Horticulture Crops and Cereal Crops

March 10, 2024 | Agriculture

The global agricultural biologicals market size stood at USD 13.44 billion in 2023. The market value is slated to rise from USD 15.29 billion in 2024 to USD 44.70 billion by 2032 at a CAGR of 14.35% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Agricultural Biologicals Market Size, Share & Industry Analysis, By Type (Biopesticides, Biostimulants, and Biofertilizers), By Source (Microbial and Biochemicals), By Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), By Crop (Row Crops, Fruits & Vegetables, and Others), and Regional Forecast, 2024-2032.”


Agricultural biologicals can be deployed solely or merged with synthetic pest-resistant chemicals. The market expansion can be ascribed to the extensive application of the product in agriculture. The demand for the product is growing to cater to the demand for pre and post-harvest management of crops.


Moreover, the COVID-19 pandemic impacted the global economy in 2020 attributed to an adverse influence on all industrial sectors owing to disruptions in their activities, a halt in international travel, and permission for only necessary businesses such as food and medicines to operate. The U.S. Department of Agriculture (USDA) also reported a drop of 3.5% in the total agri-exports of the country in the initial seven months of 2020 as compared to the previous year.


Performance Nutrition Launched NutriWise Brand to Enhance its Product Portfolio


In July 2022, Performance Nutrition announced the release of the NutriWise brand, which is a granular fertilizer and water-soluble powder. The new product replaced the old NutriSmart product line. The product has availability for turf, ornamental, and agricultural markets.


Growth in the Production of Horticulture Crops and Cereal Crops to Propel the Market Expansion


The agricultural biologicals market growth is driven by the rising production of cereal and horticulture crops. The demand for high-quality fruits and vegetables is growing rapidly owing to the surging disposable income in emerging and developed economies.


Despite an expanding scope for the adoption of the product, the scarcity of well-defined guidelines for biologicals may impede the market growth.


Leading Companies Focus on Product Launches to Broaden Their Portfolio


The top companies such as Syngenta and Novozymes emphasize the expansion of their footprint by boosting their product development, making investments in new product launches, and deploying new equipment to minimize carbon emissions. Many of the leading players are emphasizing launches of new agricultural biologicals for the expansion of their portfolio.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/agricultural-biologicals-market-100411


List of Key Players Profiled:



  • Bayer AG (Germany)

  • BASF SE (Germany)

  • Syngenta AG (Switzerland)

  • UPL Limited (India)

  • Marrone Bio Innovations (U.S.)

  • SEIPASA S.A. (Spain)

  • Koppert Biological Systems (Netherlands)

  • PI Industries (India)

  • Novozymes A/S (Denmark)

  • Gowan Group (U.S.)


Key Industry Development



  • September 2023: Croda International, a U.S.-based company, announced the launch of Atlox BS-50, a new delivery system. The product is a ready-to-use microbe delivery system that aids in the reduction of the final product development time, assisting in quicker new product development.


Further Report Findings


North America accounted for the largest agricultural biologicals market share in 2023. The proactive role of the U.S. Environmental Protection Agency in the recognition of the strong demand potential for biostimulants is driving the regional growth.



  • On the basis of type, the agricultural biologicals market is classified into biofertilizers, biostimulants, and biopesticides. The biopesticides segment witnessed the largest share in 2023 owing to innovations in organic farming coupled with the surging demand for eco-friendly products, which are bolstering its demand globally.

  • In terms of source, the market is segregated into biochemicals and microbial. The microbial segment is poised to depict the dominating position during the forecast period. The growing research on various microbes that can play crucial roles in crop protection is augmenting the microbial segment expansion.


Table of Segmentation














































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Unit



Value (USD Billion)



Growth Rate



CAGR of 14.35% from 2024 to 2032



Segmentation



By Type, Source, Application Method, Crop, and Region



 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


Segmentation


 


 


 


 


 



By Type



  • Biopesticides

  • Biostimulants

  • Biofertilizers


By Source



  • Microbial

  • Biochemicals


By Application Method



  • Foliar Spray

  • Soil Treatment

  • Seed Treatment

  • Others


By Crop



  • Row Crops

  • Fruits & Vegetables

  • Others


By Region



  • North America

  • Europe

  • Asia Pacific

  • South America

  • Middle East & Africa


Geography



  • North America (By Type, Source, Application Method, Crop, and Country)

    • U.S. (By Application Method)

    • Canada (By Application Method)

    • Mexico (By Application Method)



  • Europe (By Type, Source, Application Method, Crop, and Country)

    • Germany (By Application Method)

    • U.K. (By Application Method)

    • Spain (Application Method)

    • France (Application Method)

    • Italy (Application Method)

    • Russia (Application Method)

    • Rest of Europe (Application Method)



  • Asia Pacific (By Type, Source, Application Method, Crop, and Country)

    • China (By Application Method)

    • India (By Application Method)

    • Australia (By Application Method)

    • Japan (By Application Method)

    • Rest of the Asia Pacific (By Application Method)



  • South America (By Type, Source, Application Method, Crop, and Country)

    • Brazil (By Application Method)

    • Argentina (By Application Method)

    • Rest of South America (By Application Method)



  • Middle East and Africa (By Type, Source, Application Method, Crop, and Country)

    • South Africa (By Application Method)

    • Israel (By Application Method)

    • Rest of the Middle East & Africa (By Application Method)




Agricultural Biologicals Market
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  • 2023
  • 2019-2022
  • 260

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