The report “Top Trends in the Agricultural Biologicals Market by Agricultural Biologicals, Biocontrols, Bio fungicides, Bioinsecticides, Bio nematicides, Biostimulants, Biofertilizers, Inoculants, Pheromones, Biological Seed Treatment – Global Forecast to 2028″ published by MarketsandMarkets, 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.
Awareness of organic food products, environmental safety concerns, and favorable regulations are pivotal drivers influencing the expansion of the agricultural biologicals market. Agricultural biological products have become integral components of integrated pest management practices in developed markets, often used alongside new synthetic crop chemistries. Key players in the industry are implementing strategic initiatives such as expansions, new product launches, and collaborations to bolster their market presence.
Bio Nematicides: Leading Market Trend
The most significant trend in the agricultural biologicals market is the rapid growth of bio nematicides. Nematodes pose a severe threat to crops, causing substantial losses annually. An essential challenge in nematode control is finding solutions that effectively manage them without harming plant growth. Bio nematicides are gaining prominence globally for their ability to address this challenge. The application of crop protection chemicals and nematode control ingredients is driving the growth of this market segment.
Bioinsecticides: Second-Most Important Market Trend
Bioinsecticides rank as the second-most crucial trend in the agricultural biologicals market. Projected to grow rapidly from 2021 to 2026, increasing awareness of agricultural technology and rising pest attacks are fueling demand for bioinsecticides. Insects pose significant threats to high-value crops like soybeans, potatoes, corn, and tomatoes, driving strong demand for bioinsecticides, particularly in North America. Biopesticides have gained traction in North America as sustainable alternatives to conventional chemical pesticides, driven by heightened awareness of their adverse effects on human health and the environment.
Intense Competition in Europe and the Americas
Europe and the Americas witness intense competition among international manufacturers vying to tap into the market potential of the agriculture biologicals sector. These regions offer significant opportunities due to stringent regulations on chemical pesticide usage, increasing consumer preference for sustainable products, and government support for eco-friendly agricultural practices. As a result, numerous international manufacturers are striving to seize these opportunities.
Leading Companies and Players
Esteemed and financially stable players dominating the industry include BASF SE (Germany), Bayer AG (Germany), UPL (India), Pro Farm Inc. (US), Corteva AgriSciences (US), Valent BioSciences (US), Koppert Biological Systems (Netherlands), and Certis USA LLC (US). These companies boast robust marketing and development strategies along with diverse product portfolios. Other notable players include Valagro S.P.A. (Italy), Syngenta AG (Switzerland), Stockton Bio-AG (Israel), Valent BioSciences (US), and Rizobacter (Argentina), among others.
