The Agricultural Biologicals Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Agricultural Biologicals is estimated to be USD 15 billion in 2016 and predicted to rise to USD 20.22 billion by 2021 with a CAGR of 6.15%. The market is segmented by Type (Bio pesticides (Bio insecticides, Bio nematicides, Bio Herbicides), Biofertilizers, Bio stimulants), Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Others), Sources (Microbial, Biorationals, Others), and by Mode of Application (Soil Treatment, Seed Treatment, Foliar Spray). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Rising demand for organic products, improving yield and productivity, growing number of population, increasing spending’s in R&D efforts, support from the government, rapid growth in the use of these products in seed treatment, and increasing health consciousness are propelling the growth of the market. Lack of awareness among the farmers and reluctant to change from existing practices of chemical pesticides are hampering the growth of the market.
Bio pesticides has a largest share in the overall market followed by biofertilizers and bio-stimulants. These products are best alternatives to the available chemical pesticides as they are obtained from natural resources such as plant extracts, bacteria, fungus etc. This is due to availability of developed technologies for the production and high return on investment.
Europe has a largest share in the agricultural biologicals market due to increasing demand for organic products across the Europe, reduced usage of chemical pesticides. North America agricultural biologicals market is expected to show a huge growth during the forecast period. Government regulations supporting utilization of bio-based items for agriculture and rising worldwide food demand is relied upon to drive market growth over the forecast period. Likewise, high yield and enhanced nutrition content in plants is foreseen to increase market growth. Moreover, agricultural biologicals help agriculturists in expanding yield and decreasing plant stretch which is probably going to increase market growth.
Agricultural biological market is overwhelmed by few noteworthy agrochemical organizations concentrating on bio-based agricultural items with a specific end goal to grow business in the objective market. Key players incorporate BASF, Bayer Crop Science, Syngenta, Novozymes A/S, Isagro, Arysta Lifescience Limited, Arysta LifeScience Corporation, Valent BioScience Corporation, Marrone Bio Innovations Inc., Certis U.S.A and Koppert B.V.