The agricultural biologicals market is anticipated to reach USD 27.9 billion by 2028 from USD 14.6 billion in 2023, at a CAGR of 13.8% during the forecast period in terms of value.
What is agricultural biologicals?
Agricultural biologicals refer to naturally occurring substances or microorganisms used in agriculture to enhance crop productivity, improve soil fertility, and manage pests and diseases. These biological products are derived from living organisms, including beneficial microbes, plant extracts, beneficial insects, and other natural substances.
They are used as alternatives or supplements to traditional chemical-based pesticides, fertilizers, and other agrochemicals. Agricultural biologicals can include biopesticides, biostimulants, biofertilizers, and other biological agents that promote plant growth, protect crops from diseases and pests, and support sustainable farming practices. The aim is to reduce environmental impact while improving agricultural yields and overall plant health.
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Key Highlights the Agricultural Biologicals Market:
1. Growing Demand for Sustainable Agriculture: Increased awareness about environmental concerns and the need for sustainable agricultural practices has driven a growing demand for biological products in agriculture.
2. Biopesticides on the Rise: Biopesticides, including bioinsecticides, biofungicides, and bioherbicides, have gained traction as alternatives to traditional chemical pesticides. They are perceived as more environmentally friendly and less harmful to non-target organisms.
3. Microbial Seed Treatment: The use of microbial seed treatment products, such as inoculants and biofertilizers, has been on the rise. These products enhance soil fertility, promote plant growth, and contribute to overall crop health.
4. Increased Investment in Research and Development: The agricultural biologicals sector has witnessed a surge in research and development activities, leading to the introduction of innovative products. This includes the development of new microbial strains, improved formulations, and advanced delivery mechanisms.
5. Regulatory Support for Biologicals: Regulatory agencies in various countries have been working towards establishing clear guidelines and support mechanisms for the registration and commercialization of agricultural biologicals. This has provided a more conducive environment for the growth of the market.
6. Adoption of Precision Farming: The integration of agricultural biologicals with precision farming practices has gained popularity. Precision farming technologies enhance the targeted application of biological products, optimizing their effectiveness and minimizing waste.
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North America is expected to dominate the market during the forecast period.
The agricultural biologicals market has seen significant growth in North America, primarily due to the high level of awareness and willingness among farmers in the United States and Canada to adopt sustainable agricultural practices. Farmers in these regions have recognized the increasing demand for organic and sustainable food, as well as the concerns surrounding chemical pesticide use. Consequently, they have actively sought alternatives such as agricultural biologicals, which has fueled market growth.
Key Market Players:
The key players in this include BASF SE (Germany), Syngenta AG (Switzerland), Bayer AG (Germany), UPL (India) and Corteva Agriscience (US). These players in this market are focusing on increasing their presence through agreements, partnerships, acquisitions, and collaborations. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
Recent Developments:
In July 2023, A distribution agreement for the product Essen’ciel for the Italian and Spanish markets was signed by BASF and Vivagro, a cutting-edge French firm specializing in agroecological solutions. Based on sweet orange essential oil, Essen’ciel is a natural fungicide, pesticide, and acaricide. Vine grapes, vegetable crops, berries, ornamental crops, industrial crops, and arboriculture are among the organic uses that have been allowed for it. Given the lack of insecticide alternatives, Essen’ciel stands as an alternative biocontrol agent, particularly for pip fruits like apples, pears, and quinces.
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