Agricultural Biologicals Market Seen Soaring ~11.5% Growth to Reach USD Billion by 2032, Projects UnivDatos

Key Highlights of the Report:

• The market for agricultural biologicals is progressively growing because of the increased application of environmentally friendly techniques and products.
• To increase crop yields and protection, companies are raising investments in research and development to create new-styled biopesticides, bio-stimulants, and bio-fertilizers.
• North America, Asia-Pacific, and the U.S. are the key regions to use agricultural biologicals due to growing support from the government as well as the new rules and regulation for sustainable agriculture.
• The sector led to increased adoption of mechanization including environmental issues, the need to increase crop yields, embracing of organic farming.
• Market players have especially increased reliance on strategic partnerships, mergers, and collaborations to broaden product portfolios and market presence.

According to a new report by UnivDatos, The Agricultural Biologicals Market is expected to reach USD Billion in 2032 by growing at a CAGR of 11.5%. This is especially attributed to the increasing concerns of global society towards the utilization of chemical and pollution issues. Besides this, the demand for organic consumption adds to the support of biological solutions. In addition, positive policies as well as subsidies contribute to biological adoptions. To expand the agricultural biological sector, manufacturers are putting their money into research and development of advanced biological solutions for particular crops and geographical areas. They are establishing research collaborations with universities, using digital agriculture apps to build farmers’ knowledge, and extending distribution networks in new regions. Also, they are concentrating on least-cost manufacturing and local production to increase market penetration.

In August 2024 the government of India promoted the correct usage of fertilizers alongside Organic and Biofertilizers according to soil test-based recommendations. The “PM Programme for Restoration, Awareness, Nourishment, and Amelioration of Mother Earth (PM-PRANAM)” is launched to encourage the States and Union Territories to use efficient substitutes like organic and biofertilizers to enhance the health and fertility of the soil and sustainable yield.

On September 30, 2024, FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, announced an agreement with Ballagro Agro Tecnologia Ltda., a pioneer and leader in fungi-based biosolutions, to provide growers in Brazil with a broad portfolio of differentiated biological solutions. The agreement is part of FMC’s strategic plan to grow its biologicals platform in key markets like Brazil.

Segments that transform the industry

• Based on the product, the market is segmented into biopesticides, biostimulants, biofertilizers, and others. Among these, biopesticides held a dominant share of the market in 2023 due to the faster and more environmentally friendly method of pest management that the growing sustainable farming sector. Adding to this, this helps in reducing chemical deposits and avoiding pest resistance making them appropriate for incorporation pest management (IPM) programs. Moreover, governments are providing subsidies and have eased the regulatory environment beyond what has been seen for chemical pesticides, leading to greater usage penetration.

According to the report, the impact of Agricultural Biologicals has been identified to be high for the Asia-Pacific area. Some of how this impact has been felt include:

Asia-Pacific is expected to grow with a significant CAGR during the forecast period (2024-2032). This is due to the increasing demand for food, and governmental encouragement for eco-friendly farming methods. Also, places like India and China are now using agricultural biologicals in place of conventional chemical fertilizers to counteract soil erosion as well as efforts towards managing pest resistance. As per the Directorate of Plant Protection, the consumption of biopesticides/Neem-based pesticides in India was around 7,248 in the year 2022-23. Moreover, companies enter this market by introducing affordable solutions that suit local markets and partnering with various governments to provide awareness initiatives. They also set up production units in that area to minimize costs and respond to the requirements of the area.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2024−2032.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis By Product, By Crop-Type, By Application, By Region/Country

Competitive Landscape – Top Key Vendors and Other Prominent Vendors