The global agricultural biologicals market is projected to reach USD 43.67 billion by 2031, at a CAGR of 14.0%, from USD 13.40 billion in 2022. The agricultural biologicals market is expected to continue to grow in the coming years due to the growing demand for sustainable agriculture and reduction in chemical residues.
After being introduced, the agricultural biologicals market has grown to become a global force that is changing farming practices. These biologicals, which include biostimulants, biofertilizers, and biopesticides, use naturally occurring materials and microbes to increase crop yields while posing the least amount of negative environmental impact. Their introduction as a sustainable substitute for traditional agrochemicals changed agricultural practices by promoting environmentally benign methods of controlling pests, improving soil fertility, and stimulating plant growth. There was a paradigm change at the beginning of the market that encouraged farmers to use bio-based products, which not only increase output but also reduce worries about chemical residues, improving crop quality and consumer health. A wide range of biological products with established efficacy have resulted from this introduction’s stimulation of research and development, which fueled innovation in the fields of biotechnology, microbial ecology, and agronomy. Collaborations between businesses, governments, and academic institutions expanded as agricultural biologicals gained popularity, creating a favorable environment for developments. A more peaceful coexistence between agriculture and environment was made possible by the early commercial introduction of agricultural biologicals, which changed farming practices in response to the growing demand for sustainable agriculture.
In September 2023, Biobest Group N.V., along with Aqua Capital, GIC, and Biotrop’s management announced the formalization of a binding agreement for Biobest’s acquisition of Biotrop Participações S.A. Biotrop, a prominent and rapidly expanding participant in Brazil’s thriving biologicals market, is projected to achieve a turnover of BRL 679 million (EUR 128 million) in 2023. Aqua Capital, a private equity firm headquartered in São Paulo with a specialization in agribusiness, currently holds control over Biotrop.
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Segment Analysis and Market Dynamics
Based on function type, the global agricultural biologicals market is divided into biopesticides, biofertilizers, biostimulants. The biopesticides category dominates the market with the largest revenue share. Biopesticides are derived from natural materials like animals, plants, bacteria, and certain minerals. They are used for controlling pests and diseases in crops. Unlike conventional pesticides, biopesticides offer a targeted approach, often specific to particular pests while posing minimal risk to non-target organisms and the environment. They include microbial pesticides (like bacteria, fungi, and viruses), biochemical pesticides (such as plant-incorporated protectants and natural plant compounds), and pesticidal substances produced by plants (like botanicals). Biopesticides play a significant role in integrated pest management (IPM) strategies, contributing to sustainable agriculture by reducing chemical residues and environmental impact. Biofertilizers contain living microorganisms (such as bacteria, fungi, and algae) that enhance nutrient availability and uptake for plants. These microorganisms help fix atmospheric nitrogen, solubilize phosphorus, and produce growth-promoting substances that improve soil fertility and plant growth. Biofertilizers foster symbiotic relationships with plants, facilitating nutrient absorption and promoting healthier root systems. Their use reduces dependency on synthetic fertilizers, decreases soil degradation, and enhances soil structure, contributing to sustainable agriculture practices. Biostimulants are substances or microorganisms applied to plants or soil to enhance nutrient efficiency, stress tolerance, and overall plant health. They differ from fertilizers as they do not provide nutrients directly but instead stimulate natural processes within plants, aiding in better nutrient uptake and utilization. Biostimulants include diverse compounds like seaweed extracts, humic substances, amino acids, and beneficial microorganisms. They improve plant resilience to stressors like drought, salinity, and disease, leading to increased crop yields and quality. The microbials segment is the largest segment of the agricultural biologicals market, based on product type. Microbial agricultural biologicals encompass a diverse range of microorganisms like bacteria, fungi, viruses, and protozoa. These products utilize living organisms or their byproducts to promote plant health, control pests, and enhance soil fertility. Microbial biopesticides, for instance, consist of specific strains of bacteria or fungi that target pests or pathogens while preserving beneficial organisms. Additionally, microbial biofertilizers contain beneficial microorganisms that facilitate nutrient uptake by plants, aiding in nitrogen fixation or phosphorus solubilization, thereby improving soil fertility.
The market has grown as a result of growing environmental consciousness and worries about chemical residues. Environmentally conscious farming methods are being supported by both consumers and regulators, which is increasing demand for biologicals with lower environmental impact and more sustainability. Furthermore, developments in microbiology and biotechnology have sparked creativity and resulted in the creation of a wider range and more potent biological products. Together with rising R&D expenditures, this ongoing innovation keeps the market’s offers growing and improves their applicability and efficacy for a range of crops and geographical areas. The regulatory environment has a big impact on market dynamics as well. Opportunities for expansion in the agricultural biologicals industry are created by changing rules that support sustainable farming methods and favor bio-based products. Furthermore, partnerships and collaborations between government agencies, academic institutions, and business leaders create an atmosphere that is favorable to the creation of new products, entry into new markets, and dissemination of information regarding the advantages of biologicals. Economic factors that affect market dynamics include the availability of subsidies, changes in commodity prices, and the general state of the global agriculture sector’s economy. The market for agricultural biologicals is shaped by a number of factors that work together to drive innovation, adoption, and market penetration as the sector grows its presence in contemporary agriculture.
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Regional Analysis
The agricultural biologicals market in North America is expected to lead globally. North America is known for its sophisticated farming methods and strong infrastructure, which promote creativity and the uptake of cutting-edge technologies. Because sustainable farming is highly valued in this area, agricultural biologicals is becoming increasingly popular among farmers because it is a great fit with these ideals. Furthermore, North America’s regulatory framework which is supportive is crucial. A favorable environment is created for the advancement and monetization of agricultural biologicals by regulations that support environmentally friendly and biobased agricultural solutions. The market’s growth trajectory is further amplified by the existence of major players who are investing extensively in research & development. The ongoing evolution of biological products as a result of these investments increases their effectiveness and suitability for a variety of crops and farming systems. Moreover, the growing consciousness among customers regarding the advantages of sustainable and organic produce stimulates the market for biologically grown crops. Farmers are encouraged by consumer demand to use agricultural biologicals in order to satisfy market demands, which further fuels the sector’s growth. The coming together of these elements modern farming techniques, regulatory support, significant R&D expenditures, and consumer inclinations toward eco-friendly goods places North America at the forefront of the global agricultural biologicals market and opens the door for future innovation and leadership in the sector.
The report “Agricultural Biologicals Market Size, Share & Trends Analysis Report by Function Type (Biopesticides, Biofertilizers, Biostimulants), by Product Type (Microbials, Macrobials, Natural Products), by Application (Foliar Spray, Seed Treatment, Soil Treatment), by Crop Type (Grains and Cereals, Pulses and Oilseeds, and Fruits and Vegetables), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from: https://www.econmarketresearch.com/
Further key findings from the report suggest:
Econ Market Research has segmented the global agricultural biologicals market based on function type, product type, application, crop type, and region:
Agricultural Biologicals Market by Function Type (Revenue, USD Billion, 2023-2031)
Agricultural Biologicals Market by Product Type (Revenue, USD Billion, 2023-2031)
Agricultural Biologicals Market by Application (Revenue, USD Billion, 2023-2031)
Agricultural Biologicals Market by Crop Type (Revenue, USD Billion, 2023-2031)
Agricultural Biologicals Market Regional Analysis (Revenue, USD Billion, 2023-2031)
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