The increasing awareness about environmental sustainability and growing consumer interest in organically grown crops has been one of the key factors that drive this market. Government regulations that support the use of green technology have been another important driver for this industry. Moreover, residue-free organically grown crops are now preferred by consumers because of which this market has been growing exponentially. The increasing use of Integrated Pest Management techniques that supply viable agronomics solutions further propels the growth of this sector.
The global agricultural biologicals market is estimated to have a value of USD 10 Billion in 2020 and it is expected to reach a value of USD 28 Billion by 2028 with a CAGR of 14%. To perform a strategic analysis for the changing market trends, this report is segmented as Function, Application and Region.
North America is expected to dominate the global market, this is due to the high-end R&D infrastructure and a high number of patents received for biopesticides and biostimulants by companies based in NA. Followed by NA, EU is the second-largest global market shareholder in this while APAC is the fastest-growing region globally owing to the increasing demand for organically grown crops and a drastic shift from agrochemicals based farming methods to biological agriculture.
The growing demand for organically grown vegetables and fruits governs is one of the key factors that adds to the growth of this market. Based on function, the biocontrols market has the highest market revenue, this is due to the increased infestation in major crops like wheat, rice, and sugarcane. Based on the application the foliar spray segment is projected to be the fastest-growing segment in the market during the forecast period.
The study period of this report titled,” Global Agricultural Biologicals-Market and Technology Forecast to 2028” is from 2018-2028, the forecast period of this report ranges from 2020-2028. The agricultural biologicals market is segmented based on Function, Application and Region.
The report is aimed at:
- Key market trends and changing dynamics of the global market have been discussed.
- The drivers, restraints, and challenges of this market have been identified and analyzed thoroughly.
- The impact of advancing technology in this market and its effects have been covered.
- The new opportunities provided by this market and the high growth sectors have been discussed.
- This report covers all the global shortcomings and the impacts of the same on the market scenario during the forecast period.
- A strategic plan of this market has been providing using Porter’s Five Forces and PESTLE Analysis.
The market is segmented based on Function, Application and Region.
Based on Function:
- Foliar Spray
- Soil Treatment
- Seed Treatment
- North America
- Asia Pacific
- Middle East
- Rest of the World (RoW) (South Africa and others in RoW)
- United States
- United Kingdom
- United Arab Emirates
- The new players could benefit from this report since it contains a detailed study on the drivers, restraints, and challenges that are expected to influence the market. Then understand the changing market trends through these insights.
- Near term and future term strategies can be designed by existing players while keeping this report as a reference since it ranges up to a forecast period of 2028.
- Potential opportunities in this field concerning advancing technology have been discussed. Technology innovators could hereby use these studies to understand the scope and demand of their projects.
- Strategic analysis concerning key players of this market has been performed that could help new players and potential entrants with gaining a comprehensive view of the competition within this market.
- The sales teams could make use of this report to gain a more perspective about the changing preferences of the audience to improve sales.
- Financial Institutions: Can use this report to make financial strategies for R&D funding or market investment plans by identifying the hot-spots of this market.
- Governments, Associations, and Industrial Bodies: Could make use of this report to understand the growth opportunities in this market.
- Sales Teams: They can make use of this report to understand the drivers of the market and the change in demographics globally.
- Technology Innovators: Can use this report to understand the grey areas of the existing technology and optimize the same. They can also build new technology based on the unmet demands of the market.