The Top Trends in the Agricultural Biologicals Market is projected to grow at a CAGR of 13.7% from an estimated value of USD 14.7 billion in 2023 to reach USD 27.9 billion by 2028.
This growth can be attributed to various factors, including the increasing awareness of organic food, rising concerns about the risks associated with chemical usage, a high demand for valuable crops, increased awareness of residue levels in food, and favorable regulatory frameworks. The adoption of agricultural biological products is also contributing significantly to the expansion of this market.
Among the top trends in the agricultural biologicals market, the fastest-growing trend is bio nematicides, which are projected to be the most important market trend. Nematodes pose a significant threat to crops and cause substantial losses annually. Finding an effective solution to control nematodes without harming plant growth has been a major challenge. Bio nematicides are gaining importance globally due to their ability to address this challenge. The application of crop protection chemicals and the use of ingredients to control nematodes are key drivers for the growth of this market segment.
The second-most important market trend in the agricultural biologicals market is bioinsecticides. They are expected to experience significant growth during the forecast period. The increasing awareness of agricultural technology and the growing incidence of pest attacks are driving the demand for bioinsecticides. Insects pose a significant threat to high-value crops, leading to severe infestations. As a result, the demand for bioinsecticides is particularly high in North America.
Biopesticides have gained significant adoption and popularity in North America as a sustainable and environmentally friendly alternative to conventional chemical pesticides. The region has witnessed a surge in demand for biopesticides due to increased awareness of the negative impacts of synthetic pesticides on human health and the environment. North American farmers and growers are increasingly embracing biopesticides to manage pests and diseases while minimizing their ecological footprint.
The agricultural biologicals market in Europe and the Americas is witnessing intense competition among international manufacturers. These regions offer significant market potential due to factors such as stringent regulations on chemical pesticide use, growing consumer demand for sustainable and organic products, and government initiatives supporting environmentally friendly agricultural practices. As a result, numerous international manufacturers are striving to capitalize on these opportunities.
Leading companies in the agricultural biologicals market include BASF SE, Bayer AG, UPL, Pro Farm Inc., Corteva AgriSciences, Valent BioSciences, Koppert Biological Systems, and Certis USA LLC, among others. These companies have well-established presence and financial stability in the industry. Other players in the market include Valagro S.P.A., Syngenta AG, Stockton Bio-AG, Valent BioSciences, and Rizobacter, among others.
Overall, the agricultural biologicals market is poised for substantial growth driven by factors such as the increasing demand for organic food, concerns about chemical usage, and the need for sustainable agricultural practices. The adoption of bio nematicides and bioinsecticides is expected to play a crucial role in shaping the market’s expansion in the coming years.
