Agricultural Biologicals Market Growth & Trends
The global agricultural biologicals market size is projected to reach USD 14.7 billion by 2027 registering a CAGR of 9.4%, according to a new report by Grand View Research, Inc. Rising demand for food products grown through organic means coupled with favorable government initiatives undertaken across all major agrarian economies is anticipated to drive the market. Significant agricultural reforms were realized worldwide after recognizing the hazards associated with synthetic fertilizers and crop care chemicals.
The environmental hazards include soil contamination due to the use of synthetic chemicals for prolonged period, underground water reserve contamination, soil fertility loss, and more, whereas human damages include loss of nutrients in food and long-term deterioration of health due to excessive chemical intake. These factors have led to noteworthy inclination towards bio-based solutions for agriculture across the globe.
Furthermore, microbes have been an essential as well as fundamental constituent of nature, which are increasingly utilized by agricultural biologists and agricultural input manufacturers to formulate essential farming products, such as various biostimulants, biofertilizers, and biopesticides. Their usage results in healthier growth of plants as they have no environmental degradation and provide essential nutrients, such as phosphates and nitrogen, to the crop roots. Biologics applications are gaining traction over chemically synthesized products due to increasing demand for food with lower chemical residues.
Companies, such as Agricen, BASF, and Bayer CropScience, are globally investing in technological advancements to formulate new inoculants that aid in vigorous plant growth with superior properties. Furthermore, biologicals used in post-harvest management is also gaining significance since the past decade due to multiple instances of crop loss and deterioration of crop shelf-life. These factors are projected to significantly increase the consumption of agricultural biologicals across all major agrarian economies.
Agricultural Biologicals Market Report Highlights
- Biopesticides segment held the largest volume share in 2019 and is projected to record a volumetric CAGR of 8.7% from 2020 to 2027 due to the product’s effectiveness to decompose quickly and cause significantly lower pollution
- Seed treatment application method is expected to witness the fastest CAGR from 2020 to 2027 due to its wide usage for enhancing the seed properties to achieve optimum crop yield with high nutrient content
- Asia Pacific is expected to register the fastest growth rate of 11.3%, in terms of volume, from 2020 to 2027 owing to strong presence of organic crop care product manufacturers and agricultural community in the region
- Companies, such as Novozymes and BASF SE, are developing products to cater to a broader market base with improved product quality to ensure maximum crop yields at minimum costing
- Most the major manufacturers have integrated operations across the value chain to maintain product consistency and also to sustain in the competitive environment