Global agricultural biologicals market size reached US$11.73B in 2022 and is anticipated to reach US$13.35B in 2023 and US$33.69B by 2030, recording a CAGR of 14.1% during 2023-2030 period: Fortune Business Insights

December 12, 2023 (press release) –

The global agricultural biologicals market size reached USD 11.73 billion in 2022 and is anticipated to touch USD 13.35 billion in 2023. The market is predicted to be valued at USD 33.69 billion by 2030, recording a CAGR of 14.14% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Agricultural Biologicals Market Size, Share & COVID-19 Impact Analysis, By Type (Biopesticides, Biostimulants, and Biofertilizers), By Source (Microbial, Biochemicals), By Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), By Crop (Row Crops, Fruits & Vegetables, and Others), and Regional Forecast, 2023-2030”.

The global food production is on the rise every year due to factors, such as rapid growth in population. This factor has increased the demand for high-quality fertilizers to protect crops from various diseases and pesticides. However, using synthetic chemical-based fertilizers can not only decrease the quality of crops, but also have a detrimental impact on the environment. This factor has increased the demand for eco-friendly fertilizers, thereby boosting the agricultural biologicals market growth.

Trade Restrictions Imposed During COVID-19 Negatively Impacted Market Growth

The COVID-19 pandemic had an adverse effect on the market development as governments imposed several trade and movement restrictions to contain the spread of the virus. A vast majority of farmers were forced to halt their operations as there was a severe shortage of critical products, such as fertilizers. This was due to the supply chain disruptions caused by the trade restrictions implemented during this period. These factors negatively influenced the market growth.

UPL Partnered With AgBiTech to Create Sustainable Solutions for Crops in U.S.

UPL announced its partnership with AgBiTech, a leader in agricultural biological innovations to develop healthy food systems, to design sustainable bio products and solutions for crops in Arizona, Hawaii, and California. Through this partnership, UPL will distribute AgBiTech’s bio solutions with the help of its Natural Plant Protection (NPP) business unit, starting with two bioinsecticides.

Risks Linked With Utilizing Synthetic Chemicals in Agriculture to Bolster Market Growth

Synthetic chemicals are more harmful to the environment as they erode the soil’s nutrients and can deteriorate crops’ health and quality. They can also harm the human body by causing several health disorders. On the other hand, biopesticides can eliminate pests effectively and are less detrimental to the environment. Biopesticides can also address the issue of pesticide residue. These advantages will boost the sales of eco-friendly pesticides and augment the market progress.

Advanced Products Introduced by Key Market Players to Help Them Dominate Market

This market has a vast presence of well-known and emerging firms. Some of these companies are leading the market’s growth due to various factors, such as growing global food production, vast customer pool, and robust brand loyalty & distribution networks. These companies are also engaging in partnerships and collaborations to strengthen their product portfolios and launch innovative crop protection solutions. Such initiatives will help them boost their market dominance.

Key Industry Development

• November 2022: Koppert launched nematode solutions for agricultural pests. These solutions will mitigate the growth of various pests in potatoes, stone & soft fruits, and outdoor vegetables.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/agricultural-biologicals-market-100411

List of Key Players Profiled in this Market Report

• Bayer AG (Germany)
• BASF SE (Germany)
• Syngenta AG (Switzerland)
• UPL Limited (India)
• Marrone Bio Innovations (U.S.)
• SEIPASA S.A. (Spain)
• Koppert Biological Systems (Netherlands)
• PI Industries (India)
• Novozymes A/S (Denmark)
• Gowan Group (U.S.)

Further Report Findings

• North America captured the largest agricultural biologicals market share in 2022 as the region expanding the acreage for crop fields, such as cotton, soybeans, and wheat. Moreover, the growing increase in infections and diseases in plants will further boost the product use in the region.
• The market in Asia Pacific is also anticipated to exhibit notable growth during the forecast period. This is because customers and farmers across the region are raising concerns regarding sustainability in the agriculture sector. Governments across Asia Pacific are also introducing schemes and programs to promote the use of agricultural type of biologicals to boost the crops’ quality and yield rate. These initiatives will help the regional market grow.
• The foliar spray segment accounted for the largest market share as this application method offers a lot of convenience while applying agricultural biologicals on crops. The foliar spray method is also one of the most sought-after techniques due to its simplicity, which will further enhance the segment’s growth.

Table of Segmentation

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