"Agricultural Biologicals Market Projections: Doubling in Value to USD 17.9 Billion by 2030"
Global Agricultural Biologicals
Market Overview
Agricultural Biologicals Market
Size was valued at USD 8.0 billion in 2022. The Agricultural Biologicals market
industry is projected to grow from USD 8.9 Billion in 2023 to USD 17.9 billion
by 2030, exhibiting a compound annual growth rate (CAGR) of 12.2% during the
forecast period (2023 - 2030).
The increasing demand for
organic and sustainable agriculture is one of the major drivers of the
agricultural biologicals market. Organic farming practices do not allow the use
of synthetic pesticides and herbicides, so farmers are increasingly turning to
agricultural biologicals to control pests and diseases. The growing concerns
about the environmental impact of synthetic pesticides is another major driver
of the market. Synthetic pesticides can pollute water bodies and harm wildlife,
so there is a growing demand for more environmentally friendly alternatives.
The development of new biocontrol technologies is also contributing to the
growth of the market. New biocontrol technologies, such as microbial pesticides
and bioherbicides, are being developed that are more effective and
environmentally friendly than traditional pesticides.
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Segment Analysis
The agricultural biologicals
market is segmented by product type, crop type, and region. The product type
segment is further divided into biopesticides, biofertilizers, and bio
stimulants. The biopesticides segment is the largest segment, accounting for most
of the market share. This is due to the growing demand for biopesticides as a
more sustainable alternative to synthetic pesticides. The crop type segment is
further divided into cereals and grains, fruits and vegetables, and others. The
cereals and grains segment is the largest segment, accounting for the majority
of the agricultural biologicals
market share. This is due to the high demand for biopesticides in these crops.
Regional Analysis
The regional segment includes
North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. Asia Pacific is the largest market for agricultural biologicals,
followed by North America and Europe. The growth of the Asia Pacific market is
driven by the growing demand for organic and sustainable agriculture in the
region.
The agricultural biologicals
market is a highly competitive market, with several major players operating in
the market. Some of the key players include BASF SE, Syngenta AG, Bayer AG, UPL, and
Certis USA, Inc. These companies are constantly innovating and developing new
products and technologies to meet the growing demand for agricultural biologicals.
The agricultural biologicals
market is expected to continue to grow in the coming years, driven by the
factors mentioned above. The market is expected to witness significant growth
in Asia Pacific, due to the growing demand for organic and sustainable
agriculture in the region.
Here are some of the key trends
in the agricultural biologicals market:
- Increasing
demand for organic and sustainable agriculture
- Growing
concerns about the environmental impact of synthetic pesticides
- Development
of new biocontrol technologies
- Increasing
government support for agricultural biologicals
- Growing
awareness about the benefits of agricultural biologicals among farmers
Browse In-depth Market Research Report (128
Pages, Charts, Tables, Figures) Agricultural Biologicals Market Report: https://www.marketresearchfuture.com/reports/agricultural-biologicals-market-6629
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