Agricultural Biologicals Market: Current Analysis and Forecast (2024-2032)
Emphasis on Product (Biopesticides, Biostimulants, Biofertilizers, Others); Crop-Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others); Application (Foliar Spray, Soil Treatment, Seed Treatment, Others); and Region/Country
Agricultural Biologicals Market Size & Forecast
The Agricultural Biologicals Market was valued at approximately USD 15.5 Billion in 2023 and is expected to grow at a substantial CAGR of around 11.5% during the forecast period (2024-2032) owing to the rise in organic farming practices creating a demand for biological products to manage pests, diseases, and soil fertility naturally.
Agricultural Biologicals Market Analysis
Agricultural biologicals are substances of biological origin applied in farming to improve yield and prevent or control pests and diseases. Some of the biopesticides, bio-stimulants, and bio-fertilizers are microorganisms, plants, or organic compounds. These products provide green solutions that are an option to chemical-based solutions used in farming. Also, makes the soil healthier, crops more resistant, and makes the farming process more efficient.
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.
For instance, on 8 Jul 2024 – Syngenta Biologicals, a leader in cutting-edge agricultural biological solutions, and Intrinsyx Bio, a Silicon Valley biotech company that promotes sustainable agriculture, announced a collaboration to bring a novel biological solution to agricultural markets globally.
On November 13, 2024, The Biotechnology Innovation Organization (BIO) applauds an announcement from the USDA's Animal and Plant Health Inspection Service (APHIS) expanding the scope of biotechnology exemptions for modified plants under 7 CFR part 340. This promising update supports the latest advancements in science and biotechnology, encouraging innovation across a broader range of agricultural products.
Agricultural Biologicals Market Trends
This section discusses the key market trends influencing the various segments of the Agricultural Biologicals market as identified by our research experts.
Seed Treatment Transforms Agricultural Biologicals Industry
Seed treatment is expected to grow with a significant CAGR during the forecast period (2024-2032. This segment helps in seed germination, and pest control on the seedlings and enhances crop yields in markets. The consumption of treated seeds has been increasing because of such factors as increased yield as well as reduced cost. The implementation of biological seed treatments is attained through the incorporation of bioinoculants and biocontrol agents into products. For instance, on June 05, 2023, Syngenta Crop Protection’s Seedcare business introduced EQUENTO®, a novel seed treatment that provides outstanding control of various soil pests while helping farmers increase the sustainability of their farming operations.
North America leads the market.
There is an increase in the direct demand for sustainable farming in North America, combined with the legislation to control the use of chemical pesticides in the agricultural biologicals market. Farmers in this region are using biological methods to increase yields to the crops they produce as well as provide food that is safe for the environment and human health. The current increased instances of organic farming practices and support from authorities such as the USDA organic certification accelerates the utilization. Moreover, companies act on this need by increasing their R&D budgets to design products for regions and entering alliances with agriculture co-ops. They also emphasize the idea of informing farmers about the benefits of biologicals through a personal demonstration.
For instance, on January 11, 2021, the USDA Agricultural Marketing Service (AMS) National Organic Program (NOP) ended its recognition agreement with India’s Agricultural and Processed Food Products Export Development Authority (APEDA).
After July 12, 2022, USDA organic certification by a USDA-accredited certifier will be required to import organic products from India to the United States. APEDA-accredited certifiers may apply to NOP for direct accreditation to the USDA organic program at any time.
Agricultural Biologicals Industry Overview
The Agricultural Biologicals market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are BASF, Bayer AG, Syngenta Crop Protection AG, UPL, FMC Corporation, Corteva (DowDuPont), Valent Group, Certis USA L.L.C., Koppert, Andermatt Group AG.
Agricultural Biologicals Market News
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.
On September 20, 2022, Row and cereal crop farmers across the U.S. soil solutions tailored to overcome nutrient challenges and maximize profitability. Locus Agricultural Solutions® (Locus AG) expanded its line of flagship Rhizolizer® and Pantego® biologicals–launching 11 new crop-specific formulations that feature novel microbial strains.
On October 18, 2022 – Bayer announced that the company has closed the previously announced transaction with Ginkgo Bioworks to begin a multi-year strategic partnership to accelerate research and development of biological products for agriculture.
Agricultural Biologicals Market Report Coverage
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
The global Agricultural Biologicals market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Agricultural Biologicals Market Analysis (2022-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Agricultural Biologicals market were the three major steps undertaken to create and analyze the adoption of Agricultural Biologicals in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Agricultural Biologicals market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Agricultural Biologicals market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Agricultural Biologicals market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, crop-type, application, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Agricultural Biologicals market. Further, we conducted factor analysis using dependent and independent variables such as product, crop-type, application, and regions of the agricultural biologicals market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Agricultural Biologicals market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global agricultural biologicals market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the Agricultural Biologicals market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Agricultural Biologicals market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Agricultural Biologicals market. Data was split into several segments and sub-segments after studying various parameters and trends in the product, crop-type, application, and regions of the global Agricultural Biologicals market.
The main objective of the Global Agricultural Biologicals Market Study
The current & future market trends of the global Agricultural Biologicals market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the Agricultural Biologicals market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas of product, crop-type, application, and regions.
Define and analyze the regulatory framework for the Agricultural Biologicals
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the Agricultural Biologicals market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the Agricultural Biologicals market and the growth strategies adopted by the market players to sustain the fast-growing market.
Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the agricultural biologicals market's current size and growth potential?
The Agricultural Biologicals market was valued at USD 15.5 Billion in 2023 and is expected to grow at a CAGR of 11.5% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the agricultural biologicals market?
The increasing demand for sustainable agriculture, regulatory support and policies, rising awareness of health and environmental impacts, and growth in organic farming drive the agricultural biologicals market.
Q3: Which segment has the largest share of the agricultural biologicals market by product?
Biopesticides have the largest share of the Agricultural Biologicals market by product.
Q4: What are the major trends in the agricultural biologicals market?
The rising adoption of Integrated Pest Management (IPM) and increasing investment in biological R&D is the major trend in the agricultural biological market.
Q5: Which region will dominate the agricultural biologicals market?
North America dominated the market in 2023
Related Reports
Customers who bought this item also bought
