IMARC Group’s report titled “Agricultural Biologicals Market Report by Type (Biopesticides, Biofertilizers, Biostimulants), Source (Microbials, Macrobials, Biochemicals, and Others), Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment, Post-harvest), Application (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, Turf and Ornamentals, and Others), and Region 2024-2032“. The global agricultural biologicals market size reached USD 14.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 44.6 Billion by 2032, exhibiting a growth rate (CAGR) of 13.1% during 2024-2032.
Factors Affecting the Growth of the Agricultural Biologicals Industry:
- Regulatory Framework and Policies:
The regulatory environment is vital in shaping the agricultural biologicals industry. Governments worldwide are increasingly recognizing the benefits of biologicals in promoting sustainable agriculture and reducing reliance on chemical inputs. Consequently, regulations governing the approval and commercialization of these products facilitate adoption. Supportive policies, such as incentives for sustainable practices and streamlined approval processes, encourage product innovation and market entry. For instance, clear guidelines for efficacy and safety assessments can help standardize the industry and build trust among farmers and stakeholders, facilitating industry expansion.
- Significant Technological Advancements and Innovation:
The pace of technological advancements significantly impacts the growth of agricultural biologicals. Innovations in areas such as genomics, synthetic biology, and bioinformatics have led to the development of more effective and targeted biological products. For instance, the ability to precisely identify and engineer microorganisms or develop novel biopesticides enhances product performance and appeals to a broader market. Additionally, advancements in application technologies, such as precision agriculture tools and automated delivery systems, improve the efficiency and effectiveness of biological products. Companies that invest in research and development (R&D) to utilize these technologies can gain a competitive edge and propel market growth.
- Market Demand and Consumer Preferences:
Increasing consumer awareness and demand for sustainable and environmentally friendly agricultural practices significantly contribute to the growth of the biologicals industry. As consumers become more conscious of the impacts of conventional agriculture on health and the environment, there is a rising preference for products that reduce chemical residues and promote soil health. Additionally, the need for more sustainable and resilient agricultural practices to combat challenges such as climate change and soil degradation is a significant growth-inducing factor. Consequently, companies are increasingly aligning their products with these consumer preferences, facilitating overall industry growth.
Leading Companies Operating in the Global Agricultural Biologicals Industry:
- Agri Life
- Agrinos Inc.
- Arysta LifeScience Corporation (UPL Limited)
- BASF SE
- Bayer AG
- Isagro (PI Industries)
- Marrone Bio Innovations Inc.
- Novozymes A/S
- Syngenta AG
- The Dow Chemical Company
- Valagro
- Valent U.S.A. LLC (Sumitomo Chemical Co. Ltd.)
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Agricultural Biologicals Market Report Segmentation:
By Type:
- Biopesticides
- Biofertilizers
- Biostimulants
Based on the type, the market has been segmented into biopesticides, biofertilizers, and biostimulants.
By Source:
- Microbials
- Macrobials
- Biochemicals
- Others
Microbials hold the maximum number of market shares due to their effectiveness in enhancing soil health and crop productivity while reducing the need for chemical inputs.
By Mode of Application:
- Foliar Spray
- Soil Treatment
- Seed Treatment
- Post-harvest
Foliar spray dominates the market as it provides rapid and targeted delivery of biologicals directly to plant leaves, ensuring quick absorption and effectiveness.
By Application:
- Cereals and Grains
- Oilseed and Pulses
- Fruits and Vegetables
- Turf and Ornamentals
- Others
Fruits and vegetables account for the largest market share due to their high value and sensitivity to pests and diseases, which require effective and sustainable solutions.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Agricultural Biologicals Market Trends:
The agricultural biologicals industry is significantly influenced by investment and funding. Access to financial resources is essential for companies to conduct research, develop new products, and scale their operations. Consequently, venture capital and private equity play a significant role in supporting startups and established firms within the industry, enabling technological advancements and the production of innovative biologicals. Additionally, public funding and grants from government agencies and international organizations support research initiatives and field trials, reducing financial risks associated with product development. Furthermore, strategic partnerships and collaborations between biologicals companies, academic institutions, and agricultural organizations facilitate knowledge exchange and resource sharing, fostering a more dynamic and robust industry. Thus, investment and funding contribute significantly to industry expansion and advancement of agricultural biologicals, enabling the sector to respond effectively to emerging agricultural challenges and opportunities.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
