The agricultural biologicals Market was valued at US$8,048.023 million in 2018 and is projected to expand at a CAGR of 12.85% over the forecast period to reach US$16,622.112 million by 2024. Agricultural biologicals are used to benefit the crop production they are the products derived from the natural ingredients which helps to shield the crops from pests, diseases and weeds. The products which are used in biologicals are the tiny microbes and fungal organisms, or extracted from the plants. The agricultural biologicals market is expected to grow due to rise in the awareness among the farmers to use agricultural biological products and discourage the use of chemical and synthetic fertilizers to grow organic, nutritious and healthy food which will also improve the productivity of the crop yielded. The use of biological agricultural improves economic stability in the production which encourages the use of organic products for crop treatment derives the growth of agricultural biological market.
Opportunities like increase in the cost of chemicals, population growth, improvement needed in the production of crop and increase demand for organic products is boosting the demand for agricultural biologicals during the forecast period. Furthermore, due to the initiatives taken by government in the promotion and regulations made in the favour of using agricultural biological products is driving the growth of agricultural biological products. However, due to the short shelf life and little adoption of bio pesticides and also lack of awareness is interrupting the growth of agricultural biological products.
Supportive Initiatives taken by government.
Increase the production of organic products.
Lack of awareness.
Short product lifecycle.
In March 2019, FiBL in Germany has approved six special fertilizers of Biolchim for organic farming.
In May 2019, Marrone Bio Innovation collaborated with Compass Minerals Plant Nutrition to develop plant nutrition solution enhanced with microorganisms.
The major players profiled in the Agricultural Biologicals market are Biolchim, Marrone Bio innovation, BASF, Valent BioSciences, Syngenta, Isagro, Arysta LifeScience, Koppert, Novozyme A/S and Certis USA LLC.
The agricultural biologicals market been analyzed through the following segments:
Middle East and Africa