“The agricultural biologicals market is projected to grow at a CAGR of 13.80% during the forecast period.”
The agricultural biologicals market was valued at USD 6.75 billion in 2017 and is projected to grow at a CAGR of 13.80% from 2017 to reach USD 14.65 billion by 2023. This market has been gaining prominence among farmers to improve the agricultural yield with natural methods and curb excessive usage of chemical-based pesticide application. Factors such as increased demand for sustainable agriculture & organically produced food and promotions by governments for the adoption of agricultural biologicals are projected to drive the agricultural biologicals market growth. On the other hand, factors such as efficacy issues of agricultural biological products and limitations in the shelf-life & other technological constraints are expected to restrain the growth of the market.
“Bionematicides market to grow at the highest rate during the forecast period.”
Bionematicides is the fastest-growing trend in this market. As nematodes are a long-lasting problem throughout the growing season, several chemical and biological measures are being explored to control the growing nematode menace. Biological controls such as using Paecilomyces lilacinus and Pasteuria nishizawae are utilized effectively to control nematodes in the US and Europe. Even though it is a niche market, there has been a significant interest among global players to develop and include bionematicides in their portfolio.
“Biopesticides market to be the largest subcategory market among agricultural biologicals during the forecast period.”
As compared to biostimulants and biofertilizers, biopesticides accounted for the largest share in 2016. There is an increasing demand for more biological solutions as alternatives to chemical pesticides in both, organic farming and IPM systems. These biopesticides also prove to be cost-effective when added with a limited amount of chemical pesticides in integrated pest management (IPM) systems.
“In the biostimulants market, Europe was the largest market in 2017.”
Factors such as increased demand for organic products, awareness about agrochemical-based environmental hazards, and the need to preserve the soil quality exhibited significant growth in Western European countries such as Germany, France, Spain, and the UK as compared to other parts of the region.
The top trends in the agricultural biologicals market are segmented market-wise, with a detailed analysis of each market by studying the individual competitive landscapes. The regions covered in this report include North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Breakdown of the profile of primary participants is as follows:
- By Company Type: Tier I – 25 %, Tier II – 34%, and Tier III – 41%
- By Designation: C-level Executives – 15%, Directors – 55%, and Others – 30%
- By Region: Americas – 45%, Europe – 30%, Asia Pacific – 20%, and RoW – 5%
The market is dominated by key players such as Bayer (Germany), Monsanto BioAg (US), Syngenta (Switzerland), BASF (Germany), DowDuPont (US), and Arysta LifeScience (US).
- This study estimates the market size of the top global trends in the agricultural biologicals market, in terms of value, till 2023.
- It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and the preferred development strategies such as expansions, acquisitions, new product developments, and agreements for each of the trends covered under this market.
- It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and the key issues of the overall market broadly.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses?competitive landscape mapping, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging trends in the agricultural biologicals market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on agricultural biologicals offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and growth strategies in the agricultural biologicals market
- Market Development: The report provides comprehensive information and analyzes the lucrative emerging trends for agricultural biologicals across various regions
- Market Diversification: Exhaustive information about products, recent developments, and investments in the agricultural biologicals market
- Competitive Assessment: In-depth assessment of the market share, strategies, products, and manufacturing capabilities of the leading players in the agricultural biologicals market