Agricultural Biologicals Market

Agricultural Biologicals Market Size & Share - Future Growth Expectations

The agricultural biologicals market size is projected to reach USD 27.9 billion by 2028 from USD 14.6 billion by 2023, at a CAGR of 13.8% during the forecast period in terms of value. The agricultural biologicals market is experiencing growth due to growing organic farming and government initiatives. 

Agricultural biologicals are a diverse group of products derived from natural materials, including plant extracts, microorganisms, beneficial insects, and other organic substances. These products are used in agricultural practices to enhance crop health, improve yields, and manage pests, diseases, and weeds in an environmentally sustainable way. They are increasingly seen as an alternative or supplement to traditional chemical pesticides and fertilizers.
 
Several Factors are Driving the Agricultural Biologicals Market Growth:
 
  • Rising Demand for Organic Food: Consumers are increasingly concerned about the safety and quality of their food, and there is a growing demand for organic products. Agricultural biologicals are essential for organic farming, as they cannot use synthetic pesticides or fertilizers.
  • Focus on Sustainable Agriculture: There is a growing awareness of the environmental impact of conventional agriculture, and farmers are looking for more sustainable practices. Agricultural biologicals can help to improve soil health, reduce pollution, and conserve water.
  • Stricter Regulations on Chemical Pesticides: Governments around the world are enacting stricter regulations on the use of chemical pesticides due to concerns about human health and environmental safety. This is creating a demand for safer and more sustainable alternatives, such as agricultural biologicals.
  • Rise of Integrated Pest Management (IPM): IPM is a comprehensive approach to pest control that uses a combination of methods, including biological controls, to manage pest populations. Agricultural biologicals are an essential component of IPM programs.
  • Government Initiatives: Many governments are providing incentives to farmers who adopt sustainable agricultural practices, including the use of agricultural biologicals. This is helping to accelerate the growth of the market.

These factors are expected to contribute to a compound annual growth rate (CAGR) of over 13.8% for the agricultural biologicals market in the coming years. The biopesticides segment is expected to hold the largest market share, followed by the biofertilizers and biostimulants segments.

To know about the assumptions considered for the study download the pdf brochure

Agricultural Biologicals Market Share - Competitive Landscape

The agricultural biologicals market is characterized by the presence of several key players competing for market share. Some of the leading companies in the agricultural biologicals industry include:
 
  • BASF SE (Germany)
  • Syngenta AG (Switzerland)
  • Bayer AG (Germany)
  • UPL (India)
  • Corteva Agriscience (US) 
BASF SE (Germany)
 
BASF SE, a global chemical company, has a significant focus on agricultural solutions, including agricultural biologicals. The company’s strategy includes innovation and sustainable agriculture, where biological products play a crucial role. BASF has been expanding its portfolio of agricultural biologicals, including biopesticides and biostimulants. These products complement their chemical crop protection products, providing farmers with integrated pest management solutions.
 
Syngenta AG (Switzerland)
 
Syngenta AG, a leading agriculture company, is known for its crop protection and seed products. The company has been increasingly focusing on agricultural biologicals as part of its sustainable agriculture strategy. The company offers biological seed treatments that enhance seed health and vigor, improving crop yields and resilience. Agricultural biologicals align with Syngenta’s Good Growth Plan, which aims to enhance biodiversity, improve soil health, and reduce chemical usage.
 
Bayer AG (Germany)
 
Bayer AG, through its Crop Science division, is a major player in the agricultural sector. Bayer has been actively expanding its portfolio of biological products.  Bayer’s biologicals complement their traditional crop protection chemicals, providing farmers with integrated solutions for sustainable agriculture. Bayer invests in R&D and partnerships to develop new biological solutions. Their acquisition of companies specializing in biologicals has strengthened their position in the market.
 
UPL (India)
 
UPL, an Indian multinational, is one of the largest agrochemical companies globally. The company has been investing in the agricultural biologicals market to offer sustainable solutions to farmers. UPL offers a wide range of biological products, including biofungicides, bioinsecticides, and biostimulants. These products help farmers adopt sustainable farming practices. It is expanding its presence in the biologicals market through acquisitions and partnerships, aiming to provide holistic solutions to farmers.
 
Related Report:
 
Agricultural Biologicals Market by Function, Product Type (Microbials, Macrobials, Semiochemicals, Natural products), Mode of Application (Foliar Spray, Soil & Seed treatment), Crop Type (Cereals & Grains, Fruits) & Region - Global Forecast to 2028
Agricultural Biologicals Market Size,  Share & Growth Report
Report Code
AGI 4282
RI Published ON
5/29/2024
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