Agricultural Biologicals Market to Drive Growth at USD 21.16 Billion by 2031 |SkyQuest Technology
Agricultural Biologicals Market size was valued at USD 11.28 Billion in 2023 to USD 21.16 Billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031).
Westford, USA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global agricultural biologicals market will attain a value of USD 21.16 Billion by 2031, with a CAGR of 9.4% during the forecast period (2024-2031). One of the prominent factors projected to drive the agricultural biologicals market growth is burgeoning demand for food products, cultivated without the usage of chemicals. Agricultural biologicals or simply biologics, are a natural source of input for crop protection and production. These products are highly essential as it protects the plants from various pests, and these become very crucial in modern agriculture. Some of these solutions have been available and adopted in various farming communities worldwide to promote sustainable practices in agriculture.
Moreover, this increasing need for sustainable solutions has raised the demand for chemical-free agricultural products from various companies as they are concentrating on producing high-performance agricultural products like fertilizers and pesticides. High dependence on synthetic goods for achieving significant crop yields over the years has drastically impacted underground water reserves and topsoil quality. These problems have contributed to this increasing demand for environmental-friendly farming, leading to a higher usage of organic products.
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Agricultural Biologicals Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 11.28 Billion |
| Estimated Value by 2031 | $ 21.16 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Source, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing risks related to using synthetic chemicals in agriculture |
| Key Market Opportunities | Increasing adoption of integrated pest management practices for sustainable agriculture |
| Key Market Drivers | Increasing production of horticulture crops and cereal crops |
Increasing Use of Biopesticides by Farmers to Protect Crops from Pests
Based on type, the biopesticides segment is dominating with the largest agricultural biologicals market share. This segment is expected to witness the highest growth due to the greater consumption of biopesticides by the farm producers for protecting their crops from harmful pests. Biopesticides consist of pathogenic, botanicals, microbial species, such as bacteria, fungi, and viruses, for controlling various types of pests. Biopesticides are one of the valuable resources for farmers that are used for decreasing the pests on the plants without harming environmental aspects. These also do not create pollution and is not dangerous to human health. The popularity of biopesticides is constantly increasing due to the rising requirement for sustainable agricultural products, high demand for organic food, and the limitations imposed for using harmful pesticides.
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Growing Popularity of Microbials Among Farmers to Improve Soil Health
The microbial segment is dominating the market with the largest revenue share. This is mainly due to the increasing adoption of microbials by the farmers to resolve major agricultural challenges. However, some of these issues are plant protection, soil fertilization, and high product yield. Microbial pesticides use microorganisms like bacteria, fungi, or protozoa as active ingredients to improve soil health, enhance nutrient uptake, and provide natural pest control. The increasing research on different microbes that have the capability to play vital roles in protecting the crops is further expected to boost the segment’s growth during the forecast period.
Growing Government Support for Sustainable Farming Practices to Boost Market Growth in North America
Based on region, North America is dominating with the largest market share. The substantial growth of the agricultural biologicals industry is due to the presence of large agricultural product manufacturers based in the U.S. and the changing agricultural practices in the region. There are many other factors that are boosting the market in the region, such as increased technological advances, R&D, and government support for sustainable practices. For instance, the popularity for agtech is increasing rapidly as it applies technology to agricultural practices. This has become a solution for various problems like rising costs, labor shortages, and evolving consumer tastes and preferences.
Agricultural Biologicals Market Insights
Driver
- Growing demand for natural pest control alternatives
- Rising interest in improving soil health sustainably
- Increasing focus on nutrient-efficient farming solutions
Restraints
- Lack of well-defined regulatory guidelines for biologicals
- Lack of awareness of agricultural biologicals
- Increasing concerns about the effectiveness of agricultural biologicals
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Key Players Operating in Agricultural Biologicals Market
- Bayer CropScience (Germany)
- Syngenta (Switzerland)
- BASF (Germany)
- Corteva Agriscience (USA)
- FMC Corporation (USA)
- Arysta LifeScience (Japan)
- Marrone Bio Innovations (USA)
- BioWorks (USA)
- Novozymes (Denmark)
- Valagro (Italy)
- Adama Agricultural Solutions (Israel)
- Koppert Biological Systems (Netherlands)
- Biobest Group (Belgium)
- AgBiome (USA)
- Greenwave (USA)
Key Questions Answered in Agricultural Biologicals Market
- Who are the major players in the market?
- What are the segments covered in the report?
- Which is the dominating region in the market?
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This report provides the following insights:
Analysis of key drivers (growing demand for natural pest control alternatives, rising interest in improving soil health sustainably), restraints (lack of well-defined regulatory guidelines for biologicals, lack of awareness of agricultural biologicals), opportunities (increasing focus on nutrient-efficient farming solutions), and challenges (increasing concerns about the effectiveness of agricultural biologicals) influencing the growth of agricultural biologicals market
- Market Penetration: Comprehensive information on the product offered by the top players in the agricultural biologicals market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the agricultural biologicals market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
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Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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