Top Trends in the Agricultural Biologicals Market worth $18.5 billion by 2026
The Top Trends in the Agricultural Biologicals Market is projected to grow at a CAGR of 11.9% from an estimated value of USD 10.6 billion in 2021 to reach USD 18.5 billion by 2026 The market is driven by factors such as increased awareness towards organic food, growing concerns about the hazards of using chemicals, demand for high-value crops, and increase in awareness about residue levels in food, and favorable regulatory framework for the application of agricultural biologicals products are some of the key drivers for growth in agricultural biologicals market.
Bio nematicides is estimated to be the most important market trend among the top trends in agricultural biologicals market.
Bionematicides are the fastest-growing trend in the agricultural biologicals market. Nematodes result in a heavy infestation of the plant parts such as roots, leading to heavy losses of crops every year. The major challenge is to feed the growing population and ensure food safety. It doesn’t kill the plant but hampers the growth of the plant, due to which bionematicides are gaining importance across the world.
Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market.
Bioinsecticides are projected to stand second, in terms of the fastest-growing trends, during the forecast period from 2021 to 2026. The rising awareness about technology in agriculture, high-value crops, and increased level of pest attacks due to various factors are the major drivers for the growth of bioinsecticides market. Various high-value crops such as corn, soybean, potato, and tomato face strong infestation by insects. Hence, bioinsecticides are experiencing high demand across regions, especially in North America.
Significant competition to capitalize on the market potential among international manufacturers in the Europe and American regions.
The need to maintain a minimum residual level in food products and high growth prospects for organic food has been driving the agricultural biologicals market in these regions. Developed countries adopt modern agricultural practices and have strict regulations to limit excessive agrochemical applications. Therefore, the markets in Europe and North America are influenced by such drivers. The awareness regarding the sustainable benefits of biologicals has promoted the growth in developing countries such as Asia Pacific and South America.
Key players include BASF SE (Germany), Bayer AG (Germany), UPL (India), Marrone Bio Innovations (US), Corteva AgriSciences (US), Valent BioSciences (US), Koppert Biological Systems (Netherlands), and Certis USA LLC (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include Valagro S.P.A. (Italy), Syngenta AG (Switzerland), Stockton Bio-AG (Israel), Valent BioSciences (US), and Rizobacter (Argentina), among others.