Market Leaders: BASF SE (Germany), UPL (India), Bayer AG (Germany) are Leading Players Adopting Strategies Like Collaborations and Acquisitions in Top Trends in the Agricultural Biologicals Market
The agricultural biologicals market is projected to grow at a CAGR of 13.7% from an estimated value of USD 14.7 billion in 2023 to reach USD 27.9 billion by 2028. The agricultural biologicals market has seen significant growth globally, driven by increased adoption of organic farming practices, sustainable agriculture initiatives, and government support for environmentally friendly solutions. North America, Europe, and Asia-Pacific are the major regions where the market is expanding, with a wide range of companies offering agricultural biological products.
The agricultural biologicals market is witnessing a significant presence of various companies, each contributing to the growth and development of this sector. The key players in the top trends of the agricultural biologicals market include Bayer AG (Germany), UPL (India), Syngenta AG (Switzerland), and BASF SE (Germany). Other players include Isagro S.p.A. (Italy), Pro Farm Group Inc. (US), Valent Biosciences (US), Koppert Biological Systems (Netherlands), Stockton Bio-AG (Israel), Lallemand (Canada), Certis USA LLC (US), and Valagro S.P.A (Italy), which also contribute a significant share to the agricultural biologicals market.
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BASF SE (Germany) is a key chemical manufacturer and marketer in the world. The company operates through six major business segments, namely, chemicals, materials, industrial solutions, surface technologies, nutrition, and care and agricultural solutions. The agricultural solutions business segment delivers biological solutions, under which the company has a comprehensive product portfolio for crop protection & seed, turf & ornamentals, and urban & rural pest control. The crop protection segment provides foliar- and drench-applied biological solutions to the growers to control pests and diseases, which help in residue and resistance management. The biological solutions segment includes biopesticides (biofungicides and bioinsecticides), pheromones, inoculants, and biostimulants, designed to be a part of IPM programs for greenhouse and open field growers. Most biological insecticides and fungicides are registered in various countries, as the products tend to be natural. BASF SE has been aggressive in its research on biologicals to embrace new techniques and tools to add more innovative products to its pipeline. BASF pheromones have been registered for use in fruit production in Argentina, Brazil, China, the US, South Africa, and the European Union. The company is heading toward the future of agriculture biologicals through collaboration, innovation, and investment in research & development. In October 2021, BASF collaborated with Vipergen, a global leader in research services, to apply technology to discover new active ingredients for sustainable crop protection products more efficiently and quickly.
Bayer AG (Germany) is a global life sciences company with products designed to cater to the healthcare and agriculture sectors. It operates through four business segments, namely, pharmaceuticals, consumer health, and crop science. The crop science division of the company has been working on introducing seed and crop protection products such as agricultural biologicals. The company has a collection of more than 125,000 microbial strains, which allows it to use genetic diversity to develop new and beneficial products.
Bayer is committed to delivering solutions through advanced research in microbial and RNAi technology that engages the technique called RNA interference to make its products more efficient. The acquisition of Monsanto (US) has resulted in more advancements in research on RNAi technology for improving the available solutions for crop protection. In February 2020, Bayer AG collaborated with Meiogenix (France) to focus on agricultural research & development using plant breeding and genome editing technologies.
Related Reports:
Top Trends in the Agricultural Biologicals Market Agricultural Biologicals, Biocontrols, Bio fungicides, Bioinsecticides, Bio nematicides, Biostimulants, Biofertilizers, Inoculants, Pheromones, Biological Seed Treatment - Global Forecast to 2028
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