CHICAGO, Aug. 26, 2024 /PRNewswire/ -- The global agricultural biologicals market is estimated at USD 16.7 billion in 2024 and is projected to reach USD 31.8 billion by 2029, at a CAGR of 13.8% from 2024 to 2029 according to a report published by MarketsandMarkets.
While research in biotechnology and microbes has yielded improved efficiencies in products, it has also increased specificity. Biologicals are becoming more attractive to farmers, as enhancements in efficiencies and reliability have been carried out on them. Farmers are beginning to realize that the overall agricultural productivity of their farms in the long run depends on how well the health of the soil is maintained. Agricultural biologicals, which includes elements like bio-fertilizers and biostimulants, maintain the soil's fertility and friendly microbial activity to make the crops healthier and the yields better.
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By crop type, the fruits & vegetables segment is estimated to hold the largest market share during the forecast period.
Biologicals have broad applications in fruits and vegetables against the unique, intensive pest and disease pressures characterizing these crops. Most often, fruits and vegetables are more predisposed to different pests and diseases than other crops; thus, applying biologicals offers a sustainable and environmentally friendly alternative to the conventional use of chemical products in their control. The former category includes useful microbes and other natural compounds with targeted control, reduced chemical residue, and improved soil health. These also link well to contemporary consumer demand for safer and organic produce. Moreover, the high value of fruits and vegetables requires investment in biologicals to help ensure optimal yields and quality.
By mode of application, seed treatment is estimated to grow at the highest CAGR during the forecast period.
Seed treatment is expected to be the largest application area, as it will grow at the highest CAGR in the agricultural biologicals market. This is explained by its enhanced adoption as a precautionary measure in order to improve health and yield of crops. Several factors drive this growth. For instance, seed treatments protect seeds from diseases, pests, and environmental stresses right from the beginning, improving the germination rate and making the seedlings stronger. Moreover, raising awareness and demand for sustainable and organic farming have also provided an enhanced scope for biological seed treatment methods that would reduce chemical usage and minimize the impact on the environment. As farmers become more aggressive in searching out better, cleaner solutions, greater adoption of sophisticated biological seed treatments is likely to further accelerate segment growth.
By source, the natural products segment is estimated to hold second position in terms of market share in the agricultural biologicals market.
The natural products in the agricultural biologicals market will hold second place in by source segment. Natural products are derived from plants, animals, or microorganisms and help in the regulation of pests, enrichment of health by soil, and management for diseases without such drawbacks as synthetic chemicals. Their popularity is gaining momentum toward rising demands from residue-free and organic produce consumers, regulatory support to sustainable practices, and environmental concerns. Although other biological and synthetic methods also contribute to the market, natural products take a major constituent place in integrated pest management and soil fertility programs-therefore, they do hold a sort of central place within the agricultural biologicals market.
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The agricultural biologicals market in the Asia pacific region is expected to grow constantly during the forecast period.
Rising demand for food, an enormous and dynamic agricultural base, and investments in the adoption of modern technologies for farming are heavy and override the agriculture development in this region. Agricultural biologicals thus find increasing adoption in countries like China, India, and South East Asian countries for the purpose of enhancing farm productivity as well as sustainability. Other drivers include increasing consumer demand for organically grown and residue-free crops, government encouragement of sustainable methods of farming, and growing recognition of the potential of biologicals for environmentally friendly benefits as compared to synthetic chemicals. Likewise, growing interest in improving soil quality and the resultant surge in the adoption of ecofriendly pest control methodologies are increasing the popularity of biological products. The outlook for the Asia-Pacific market thus indicates significant growth and therefore bears greatly on biologicals in a changing agricultural landscape.
Key players in the agricultural biologicals market are BASF SE (Germany), Syngenta Group (Switzerland), Bayer AG (Germany), FMC Corporation (US), Corteva (US), UPL (India), Nufarm (Australia), Novonesis (Denmark), Lallemand Inc (Canada), Mosaic (US), Rovensa Next (Spain), Sumitomo Chemical Co., Ltd (Japan), SEIPASA, S.A. (Spain), Koppert (Netherlands), and Gowan Company (US).
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