Agricultural Biologicals Market to Perceive Excellent CAGR of 14.07% Globally | Says Exactitude Consultancy

Agricultural Biologicals Market

The Agricultural Biologicals Market is driven by sustainable farming practises, demand for organic products, and environmental awareness.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The agricultural biologicals market is expected to grow at 14.07% CAGR from 2023 to 2029. It is expected to reach above USD 29.40 Billion by 2029 from USD 8.99 Billion in 2022.

Agricultural biologicals refer to products derived from natural sources, such as microorganisms, plants, or minerals, used to enhance crop productivity, manage diseases and pests, and improve soil health. The market for these biological inputs has been driven by increasing awareness of sustainable farming practices, the demand for organic products, and the need to reduce reliance on synthetic chemicals. The prevalence of pest outbreaks in crops, rising consumer awareness of and demand for agricultural food of the highest quality, and the emergence of pest resistance to various plant protection products are some of the key drivers of the global market’s expansion. The misuse of crop protection chemicals, which exploits the environment, encourages the demand for biological products. These goods can be used in place of or in addition to synthetic pest-resistant chemicals, which are anticipated to support the growth of the global agricultural biologicals market throughout the ensuing years. Moreover, strict rules by organizations that oversee agricultural products regarding the excessive usage of synthetic or chemical fertilizers are anticipated to propel the expansion of the global market.

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Recent Developments:

• In October 2023, Biimore had officially registered in the European Union as a ‘non-microbial plant biostimulant’ under the EU Fertilising Products Regulation 2019/1009 (FPR), and bear the CE mark.

• In November 2022, NuCicer, an agri-food technology company pioneering ultra-high protein chickpeas by harnessing the rich biodiversity of wild chickpea relatives, announced the closure of an additional seed investment round. The funding, led by Leaps by Bayer, the impact investing arm of Bayer AG, alongside Lever VC, Blue Horizon, and Trellis Road followed an earlier investment round led by Lever VC

• In July 2023, BASF SE, in collaboration with Vivagro, a pioneering French agroecological solutions company, signed a distribution agreement for a groundbreaking product called Essen'ciel, designed for the Italian and Spanish agricultural markets. Essen'ciel, formulated from sweet orange essential oil, boasts a multifaceted role as a natural fungicide, pesticide, and acaricide. This innovative biostimulant product has gained regulatory approval for use in a wide array of organic applications, including vine grapes, vegetable crops, berries, ornamental crops, industrial crops, and arboriculture.

• In January 2022, Syngenta Crop Protection AG acquired Bionema Limited's advanced bioinsecticides, specifically NemaTrident and UniSpore. These cutting-edge biocontrol solutions represent a significant addition to Syngenta's arsenal, providing customers with supplementary and complementary technologies for the efficient and sustainable management of insect pests while addressing concerns related to pest resistance.

North America dominated the agricultural biologicals market in 2022 with a 32% share.

Due to stringent usage restrictions on numerous synthetic crop protection chemicals, which pose a serious risk to both human health and the environment, the need for biological crop production and crop protection solutions is fast increasing. Throughout the projection period, market growth is likely to be supported by North America’s accessibility to contemporary agricultural technologies, machinery, and other resources. Furthermore, it is anticipated that the growing number of organic farms in North American nations would open up new market potential. The natural resources needed for agricultural production will diminish further as the world’s population increases and the demand for food increases.

Key Aspects of The Agricultural Biologicals Market

• Biopesticides:

Biopesticides, including bioinsecticides, biofungicides, and bionematicides, have gained popularity as alternatives to chemical pesticides. These products use naturally occurring substances to control pests and diseases, reducing the environmental impact associated with traditional chemical inputs.

• Biostimulants:

Biostimulants are substances applied to plants or soil to enhance nutrient uptake, improve plant tolerance to abiotic stress, and boost overall crop performance. The market for biostimulants has seen growth as farmers seek solutions to improve yields and enhance crop resilience.

• Biofertilizers:

Biofertilizers contain beneficial microorganisms that enhance nutrient availability in the soil and promote plant growth. They contribute to sustainable agriculture by reducing the need for synthetic fertilizers and improving soil health.

• Regulatory Environment:

The regulatory landscape for agricultural biologicals has been evolving, with governments working to establish clear guidelines and standards for product registration and use. This regulatory support is crucial for the market's growth, ensuring the safety and efficacy of bio-based products.

Factors That May Impact the Agricultural Biologicals Market

• Regulatory Environment: Changes in regulations related to the approval and use of agricultural biologicals can significantly impact the market. Stringent regulations may create barriers to entry, while supportive policies can encourage innovation and adoption.

• Consumer Demand for Sustainable Agriculture: Increasing consumer awareness and demand for sustainably produced food have driven the adoption of agricultural biologicals. Consumers are often seeking products grown with environmentally friendly practices, which can influence farmers' choices in using biological inputs.

• Technological Advancements: Advances in biotechnology, genomics, and microbial research contribute to the development of new and more effective agricultural biological products. Continuous innovation in formulation and delivery methods can enhance the efficacy of these products.

• Climate Change and Weather Patterns: Changes in climate and weather patterns can affect pest and disease pressures. Agricultural biologicals that help crops adapt to changing environmental conditions or provide protection against specific challenges may see increased demand.

• Pest and Disease Outbreaks: The occurrence of pest and disease outbreaks can have a direct impact on the demand for agricultural biologicals. Farmers may turn to biological solutions as part of integrated pest management strategies in response to specific challenges.

Agricultural Biologicals Market Technological Trends

• Microbial Seed Treatment:

The use of microbial seed treatments, such as biopesticides and biofertilizers, was gaining popularity. These products contain beneficial microorganisms that can protect plants from diseases and enhance nutrient uptake.

• Biological Pesticides:

Biopesticides derived from natural sources, including bacteria, fungi, and plant extracts, were being increasingly used as alternatives to chemical pesticides. These products are generally considered more environmentally friendly and less harmful to non-target organisms.

• Biostimulants:

Biostimulants are substances that promote plant growth and enhance plant resilience. They can include beneficial microorganisms, seaweed extracts, and other organic compounds. The market for biostimulants has been growing as farmers seek ways to improve crop yields and quality.

• Genetically Modified (GM) Bioengineered Crops:

Advancements in genetic engineering have led to the development of genetically modified crops with improved resistance to pests and diseases. These crops aim to reduce the need for chemical inputs and promote sustainable agricultural practices.

• Precision Agriculture and Digital Technologies:

The integration of precision agriculture technologies, such as sensors, drones, and satellite imagery, was influencing the use of agricultural biologicals. These technologies help farmers optimize the application of biological inputs based on specific crop needs and environmental conditions.

• Synthetic Biology:

Synthetic biology techniques were being explored to create custom-designed microorganisms for specific agricultural applications. This includes the development of microbes that can enhance nutrient availability, improve soil health, and protect plants from diseases.

Agricultural Biologicals Market Players

• Tradecorp
• Bayer
• Syngenta AG
• UPL Limited
• Marrone Bio Innovations
• PI Industries
• Gowan Group
• Novozymes A/S
• Lallemand Inc.
• BASF

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Key Market Segments: Agricultural Biologicals Market

Agricultural Biologicals Market By Type, 2023-2029, (USD Billion), (Kilotons).

• Biopesticides
• Biostimulants
• Biofertilizers

Agricultural Biologicals Market By Source, 2023-2029, (USD Billion), (Kilotons).

• Microbials
• Macrobials
• Semiochemicals
• Natural Products

Agricultural Biologicals Market By Mode Of Application, 2023-2029, (USD Billion), (Kilotons).

• Foliar Spray
• Soil Treatment
• Seed Treatment

Agricultural Biologicals Market By Crop Type, 2023-2029, (USD Billion), (Kilotons).

• Fruits & Vegetables
• Cereals & Grains
• Oilseeds & Pulses

Market Dynamics:

• Increasing Demand for Sustainable Agriculture:

Growing awareness and concerns about environmental sustainability are driving the demand for agricultural biologicals, as they are considered more environmentally friendly compared to traditional chemical inputs.

• Government Initiatives and Regulations:

Supportive government policies and regulations promoting the use of bio-based products in agriculture contribute to the growth of the agricultural biologicals market.

• Advancements in Biotechnology:

Ongoing developments in biotechnology and genetic engineering are leading to the introduction of innovative and more effective biological products.

• Consumer Preference for Organic Products:

The rising consumer preference for organic food and sustainable farming practices is boosting the adoption of agricultural biologicals.

Drivers:

• Effective Pest and Disease Management:

Agricultural biologicals offer effective solutions for pest and disease management, providing an alternative to chemical pesticides.

• Enhanced Crop Productivity:

Biologicals, such as biofertilizers and plant growth promoters, contribute to improved crop yields and overall productivity.

• Residue-Free Agriculture:

Growing concerns about chemical residues in food products drive the demand for agricultural biologicals, as they often leave little to no residues.

Restraints:

• Limited Efficacy and Consistency:

The effectiveness of some agricultural biologicals can vary, and achieving consistent results may be a challenge compared to conventional chemical inputs.

• High Costs:

The initial costs of some biological products can be higher than traditional agrochemicals, which may deter adoption, especially for small-scale farmers.

Opportunities:

• Emerging Markets:

The agricultural biologicals market has significant growth potential in emerging markets as farmers become more aware of and open to adopting sustainable and eco-friendly farming practices.

• Collaborations and Partnerships:

Collaborations between biotechnology companies, agricultural input providers, and research institutions can lead to the development of more advanced and effective agricultural biological products.

Challenges:

• Market Education:

Lack of awareness and understanding among farmers about the benefits and proper use of agricultural biologicals can pose a challenge to market growth.

• Limited Shelf Life:

Some biological products may have a shorter shelf life compared to chemical alternatives, requiring careful storage and handling.

• Regulatory Hurdles:

Stringent regulatory requirements for the approval and commercialization of biological products can be a barrier to market entry.

Key Question Answered

1. What is the expected growth rate of the agricultural biologicals market over the next 7 years?
2. Who are the major players in the agricultural biologicals market and what is their market share?
3. What are the construction type industries driving demand for market and what is their outlook?
4. What are the opportunities for growth in emerging markets such as Asia-pacific, middle east, and Africa?
5. How is the economic environment affecting the agricultural biologicals market, including factors such as interest rates, inflation, and exchange rates?
6. What is the expected impact of government policies and regulations on the agricultural biologicals market?
7. What is the current and forecasted size and growth rate of the global agricultural biologicals market?
8. What are the key drivers of growth in the agricultural biologicals market?

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