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Global Agricultural Biologicals Market to Reach US$ 27,598.3 Million by 2028, Says Coherent Market Insights (CMI)

/EIN News/ -- SEATTLE, Jan. 28, 2022 (GLOBE NEWSWIRE) -- The global agricultural biologicals market was valued at US$ 9,465.4 million in 2020 and is expected to exhibit a CAGR of 14.3% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Agricultural Biologicals Market:

Increasing agricultural activities, owing to rising food requirement and rising population have led to growth of the agricultural biologicals market in emerging economies such as India, China, Mexico, and Brazil. For instance, according to the World Bank, India’s population was 1.324 billion in 2016 and it is expected to increase to around 1.65 billion by 2050. This growth is expected to significantly drive demand for food in emerging economies, which in turn will increase demand for various innovative techniques such as agricultural biologicals for improving crop yield. Furthermore, according to the Research Institute of Organic Agriculture (FiBL) survey, in 2017, the largest presence of organic producers was in countries such as India, Ethiopia, Mexico, Uganda, and Philippines among others. Thus, high number of organic producers is expected to drive demand for agricultural biologicals.

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Key Market Takeaways:

The global agricultural biologicals market is expected to exhibit a CAGR of 14.3% over the forecast period (2021-2028). Agricultural biologicals are derived from natural materials and widely used in organic farming for crop protection and production. Favorable organic agricultural practices all over the world are bolstering growth of the global agricultural biologicals market. According to the International Federation of Organic Agriculture Movements, globally, 69.8 million hectares of land was occupied for organic agricultural activities in 2017 and increased by 20% (or 11.7 million hectares) over 2016.

According to Research Institute of Organic Agriculture (FiBL) report, regions  with  the  largest  areas  of  organic  agricultural  land  are Oceania  (22.8  million  hectares,  which  is  almost  45% of  the  world’s  organic agricultural  land)  and  Europe  (12.7  million  hectares,  25%). The countries  with  the  most  organic  agricultural  land  are  Australia  (22.7  million  hectares), Argentina (3.1 million hectares), and the U.S. (2 million hectares).

Europe is the second largest region in the global agricultural biological market and is expected to show the same trend over the forecast period (2021 - 2028). Increasing adoption rate, owing to the strict government regulations relating to conservation of environment coupled with the increasing awareness of the population regarding harmful effects of synthetic pesticides are the major market drivers. The major economies adopting agricultural biological techniques are Spain, Italy, and France.

Competitive Landscape:

Key players operating in the market include Syngenta AG, The Dow Chemical Company, Bayer CropScience Company, BASF SE, Isagro Company, Novozymes A/S, Marrone Bio Innovation Inc., Valent BioSciences Corporation, and Koppert Biological Systems. Players operating in the agricultural biologicals market are focused on various growth strategies such as mergers & acquisitions in order to strengthen their market position. For instance, in 2018, Bayer successfully completed the acquisition of Monsanto, a leading agro-products company, which is expected to help Bayer strengthen its agricultural division by providing more productive and sustainable solutions. Monsato’s ‘BioDirect Technology’ and other microbial products are expected to strengthen Bayer’s presence in the agricultural biological market.

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Market Segmentation:

  • Global Agricultural Biologicals Market, By Product Type:
    • Biopesticides
    • Biofertilizers
    • Biostimulants
  • Global Agricultural Biologicals Market, By Source :
    • Microbials
    • Biochemicals
  • Global Agricultural Biologicals Market, By Mode of Application :
    • Soil Treatment
    • Seed Treatment
    • Foliar Spray
  • Global Agricultural Biologicals Market, By Application :
    • Cereals and Grains
    • Oil Seed and Pulses
    • Fruits and Vegetables
    • Others
  • Global Agricultural Biologicals Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Country:
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • South Korea
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East
      • By Country:
        • GCC Countries
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • North Africa
        • Central Africa
        • South Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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                    Mr. Shah
                    Senior Client Partner – Business Development
                    Coherent Market Insights
                    
                    Phone:
                    US: +1-206-701-6702
                    UK: +44-020-8133-4027
                    Japan: +81-050-5539-1737
                    India: +91-848-285-0837
                    Email: sales@coherentmarketinsights.com
                    Website: https://www.coherentmarketinsights.com

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