According to Acumen Research & Consulting, the global agricultural biologicals market size is estimated to grow a CAGR above 13% over the forecast timeframe and reach a market value of around USD 34,984 million by 2030.
Over the year, the market for organic fruits and vegetables is expected to grow significantly. Because of their high nutritional value, organic fruits and vegetables are in high demand in both domestic and global markets. When compared to 2016, the global total organic farming system increased by 20% in 2017. According to the FIBL report, there were 69.8 million hectares of organic farming managed globally in 2017, a 20% increase or 11.7 million hectares over 2016. This is the most significant increase in organic farming that has occurred to date. Additionally, with 35.6 million hectares, Australia has the world's largest organic farming area, followed by Argentina and China. Organic farming is expanding on all continents at the moment. However, rising awareness of organic food consumption, as well as concerns about environmental protection and favorable regulations, are the major factors driving the agricultural biologicals market's growth.
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People's awareness of the benefits of organic foods has grown, as has their popularity. Organic products are grown without the use of chemical fertilizers and pesticides and are grown naturally with manure and compost, as well as using only organic pesticides and insecticides. However, agricultural biologicals are natural microorganisms or biochemicals derived from plants that are used to replace chemicals substances used in modern agriculture. They are effective at protecting farms from pests and weeds and aid in crop health maintenance. Aside from that, they also help with residue and resistance management, mineral and microbial balance restoration, and increasing the carbon levels and water holding capacity of the soil. In Addition, agricultural biologicals are now used as an integral part of integrated pest management to keep a balance of the soil's physical, biological, and chemical aspects.
Global Agricultural Biologicals Market Growth Aspects
Globally, the biological agriculture market has seen substantial growth opportunities as demand for organic products has increased, productivity and yield have improved, and pesticide and fertilizer costs have risen. Furthermore, these product lines aid in the protection of plants against pests and are becoming an increasingly important part of modern farming methods. However, different agricultural organizations around the world have used these products to establish sustainable organic farming. Hence, a number of NGOs and government agencies are promoting the use of agricultural biologicals to promote diversity in advanced farming practices. Aside from that, the flexible functions of agriculture biologicals in both conventional and organic crop production systems, as well as increased investments in research and development projects by the market's leading players, are expected to drive the market even further. But then again, the lack of knowledge and low adoption rate of biopesticides, combined with their limited shelf life, are expected to limit market growth to some extent.
Rising use of Biopesticides and Biofertilizers, Propelling The Market Growth
Looking at the issue, organic farming is becoming more popular around the world, intending to produce healthy, safe, and residue-free food while also ensuring long-term sustainability. Organic farming promotes the use of biopesticides and biofertilizers to reduce the harmful effects of continual use of chemicals and pesticides. Biofertilizers and biopesticides have emerged as potentially environmentally friendly inputs for crop production and seed treatment. In almost all crops, they are used in place of chemical fertilizers and pesticides to improve soil fertility and control a variety of pests, insects, and diseases. As a result, the rising demand for biopesticides and biofertilizers is propelling the market growth.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global agricultural biologicals market. The Asia-Pacific biological agriculture market is expected to expand significantly over the forecast period, owing to increased consumption of organic products, a growing population, and increased R&D spending. Furthermore, increasing yield and production efficiency, the massive expansion in the use of these products in foliar spray, and government support are propelling the region's market growth. The regional market's growth is dependent on the need for agricultural fields to be productive while maintaining soil health. Additionally, the demand for high crop productivity and quality, evolving agricultural practices, and precision farming have all contributed to the growth of the Asia-Pacific market.
The global agricultural biologicals market is categorized by Acumen Research and Consultancy based on product, application, source, and crop type. Based on the product, the market is divided into biopesticides, biostimulants, biofertilizers, and others. Based on application, the market split into soil treatment, foliar spray, seed treatment, and post-harvest. Based on source, the market is classified into microbial, biochemicals, and others. Based on crop type, the market is categorized into cereals & grains, fruits & vegetables, oilseeds & pulses, and others.
Some key players covered global in the agricultural biologicals industry are Dow Chemical International Pvt. Ltd., CropScience LLC, Syngenta India Ltd., BASF India Ltd., Bayer India Ltd., Isagro Asia Agrochemicals Pvt. Ltd., T Stanes & Co Limited, Novozymes India, Arysta LifeScience India Ltd., Camson Bio Technologies, Koppert Biological Systems India Pvt Ltd, and Corteva Agriscience.
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