Market Trends

Soaring Growth Predicted in Global Agricultural Biologicals Market by 2027

NEW YORK, March 6, 2024 — A recent market research report from Technavio has given the agricultural biologicals sector reason to be optimistic. The market is anticipated to expand by a staggering USD 10.45 billion from 2022 to 2027, registering a compound annual growth rate (CAGR) of 14.24%. Despite a competitive and fragmented landscape, growth is expected to gain momentum over the forecast period.

Leading global organizations and companies in the industry, including Agrinos AS, Andermatt Group AG, BASF SE, Bayer AG, Biological Products Industry Alliance, Evogene Ltd., and others, are poised to play crucial roles in this expansion. The surging costs of chemical fertilizers and pesticides, increasing governmental support for bio-based agricultural products, and a burgeoning organic food market present substantial growth opportunities.

Figure: Technavio's latest report on the Global Agricultural Biologicals Market 2023-2027 outlines significant growth prospects.

This Technavio report offers an updated analysis of the present market scenario, encompassing the most recent trends, drivers, and the overall environmental conditions of the market.

Extensive Market Segmentation Insights

The report segregates the market into detailed segments by type, application, and geographic regions to provide a comprehensive understanding. Specifically, the market is categorized into:

• Type: This includes biopesticides, biofertilizers, and biostimulants. Each category harnesses the power of natural substances, such as plant extracts and beneficial microorganisms, offering safer and more sustainable alternatives to conventional agricultural inputs.

• Application: Key segments include cereals and grains, fruits and vegetables, oilseeds and pulses, and other crops. These segments underline the broad applicability of agricultural biologicals across diverse farming operations.

• Geography: Covering market opportunities across North America, Europe, Asia-Pacific (APAC), South America, and the Middle East and Africa, the report acknowledges the global demand for agricultural biologicals.

Significant market share growth is forecasted for biopesticides. Their reduced toxicity levels, compared to traditional pesticides, offer farmers a compelling incentive to switch. Substances such as canola oil and baking soda exemplify the types of natural ingredients being employed to develop efficient biopesticides.

Discover the full potential of the agricultural biologicals market by reading Technavio's sample report.

Key Players in the Agricultural Biologicals Market

The report presents an in-depth analysis of over fifteen vendors operating within the market. Companies like Agrinos AS offer products such as iNvigorate; Andermatt Group AG has AlgoVital Plus and T-Gro; and BASF SE markets products like Nemasys C. By introducing varied and innovative agricultural biological products, these companies maintain a competitive position in the burgeoning market.

Governmental Support as a Driving Force

Support from international organizations and governmental initiatives is significantly driving market growth. Discounts given to farmers on bio-based products, along with stringent quality control measures, make high-quality bio-based products accessible and affordable for agricultural producers. This governmental backing showcases the commitment to sustainable agriculture and the uptake of environmentally friendly practices.

Emerging Trends and Market Challenges

Emerging trends include an increasing number of product launches, which signify continuous innovation in the market. However, the prevalent availability of synthetic pesticides and herbicides poses a major challenge that might impede market growth.

Analyst's Take on the Market Landscape

According to the market analysts, Agricultural Biologicals are becoming fundamental to sustainable farming and increasing crop yields. The sector is gaining traction due to its ability to support soil health, manage pests and diseases, and improve crop resilience. The introduction of advanced bioactive compound-enriched formulations signifies an industry-wide effort toward more sustainable agricultural practices.

The enforcement of regulations aimed at diminishing conventional agrochemical usage and increasing the adoption of biologicals has revolutionized the market. With the demand for organic produce on the rise and consumers tending towards chemical-free food products, Agricultural Biologicals are critical for sustainable crop production and long-term agricultural viability.

Governments across the globe are prioritizing eco-friendly alternatives, bolstering the growth of this sector. Agricultural stakeholders are recognizing the need for sustainable practices, making these biological products essential components of future farming strategies.

Looking Ahead

The forecast for the market is one of robust growth, supported by ongoing R&D efforts to improve product performance. As sustainable practices become more vital within the agricultural value chain, Agricultural Biologicals are set to significantly shape the future of farming and promote an environmentally conscious agricultural ecosystem.

Acquire a competitive advantage with Technavio’s complete Agricultural Biologicals market report.

Exploring Related Reports

• The German agricultural machinery market is projected to grow by USD 679.51 million from 2021 to 2026, picking up speed with a CAGR of 3.59%.

• The global connected agriculture market is estimated to swell by USD 4,148.92 million from 2023 to 2027, with a brisk CAGR of 19%.

Table of Contents (TOC) Preview

Here is a glimpse at the topics covered in Technavio's comprehensive report:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Type
7. Market Segmentation by Application
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix
14. Related Reports

About Technavio

Technavio is at the forefront of global technology research and advisory. The company provides critical insights that assist businesses in understanding market trends to capitalize on opportunities. Their extensive coverage and analysis help enterprises, from SMEs to Fortune 500s, navigate changing market scenarios.

Contact Information:

Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com

(Source: Technavio)

The agricultural biologicals market is clearly on a trajectory of significant growth and widespread adoption, spurred by the combination of environmental concerns, governmental support, and the advancement of innovative products. With an increasingly educated consumer base and a clear imperative to adopt more sustainable agricultural practices, the future looks bright for the sector. As these biological solutions continue to gain traction, it is evident that the era of green agriculture is no longer a distant future but an unfolding reality.

Note: If needed, ensure to check out the provided links throughout the article to access detailed reports and obtain more precise insights into the agricultural biologicals market and its dynamic growth.