Agricultural Biologicals Market Size is Expected to Grow $27.9 billion by 2028

Chicago, Jan. 29, 2024 (GLOBE NEWSWIRE) — Agricultural Biologicals refer to products derived from natural sources, including microorganisms, plants, and other organic materials, that are used in agriculture to enhance crop production and protection. These products are often employed as alternatives or supplements to traditional chemical inputs. The agricultural biologicals market size is projected to reach USD 27.9 billion by 2028 from USD 14.6 billion by 2023, at a CAGR of 13.8% during the forecast period in terms of value.

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Agricultural Biologicals can be categorized into three main types:

  • Biopesticides: These are biological control agents used to manage pests and diseases in crops. Biopesticides include beneficial microorganisms like bacteria, fungi, and viruses, as well as bio-based substances derived from plants. They can be effective in controlling pests while minimizing environmental impact and reducing the need for synthetic pesticides.
  • Biostimulants: Biostimulants are substances that stimulate plant growth, improve nutrient uptake, and enhance the plant’s ability to tolerate environmental stress. They may contain microorganisms, hormones, amino acids, or other organic compounds. Biostimulants aim to improve overall plant health and resilience, leading to increased yield and quality.
  • Biofertilizers: Biofertilizers consist of living microorganisms, such as nitrogen-fixing bacteria or mycorrhizal fungi, that form symbiotic relationships with plants and enhance nutrient availability in the soil. They contribute to sustainable agriculture by promoting soil fertility, reducing the need for chemical fertilizers, and improving nutrient absorption by plants.

Agricultural Biologicals Market Growth

Following are some agricultural biologicals market growth factors:

Driver: Stricter Regulations Drive Adoption of Agricultural Biologicals as Sustainable Pesticide Alternatives

Governments and regulatory bodies around the world are increasingly recognizing the potential risks associated with chemical pesticides. These risks include adverse effects on human health, such as pesticide residue on food, as well as environmental concerns, such as contamination of water sources and harm to non-target organisms like beneficial insects and wildlife. To address these concerns, stricter regulations are being implemented to mitigate the use and impact of chemical pesticides.

This regulatory shift has prompted a significant shift in the agricultural industry, with an increasing demand for safer and more sustainable alternatives to conventional chemical pesticides. This demand has led to the rise of agricultural biologicals as viable solutions.

Opportunity: The Rise of Integrated Pest Management: Driving Opportunities for Agricultural Biologicals

Integrated Pest Management (IPM) is gaining global recognition as a holistic approach that combines diverse pest control strategies, including biological control methods. Within the realm of IPM, agricultural biologicals play a crucial role in promoting sustainable pest management practices and reducing reliance on chemical pesticides. As the adoption of IPM practices continues to increase worldwide, it presents significant opportunities for the utilization of agricultural biologicals across diverse cropping systems. By integrating biological control agents, such as beneficial insects, microbial-based products, and plant extracts, into IPM strategies, farmers can effectively manage pests while minimizing negative impacts on the environment and human health.

This growing acceptance of IPM as an effective and sustainable approach to pest management creates a favorable market environment for agricultural biologicals. The adoption of IPM practices encourages the exploration and utilization of biological alternatives to chemical pesticides, as they align with the goals of minimizing chemical inputs and promoting ecological balance. As a result, agricultural biologicals are being increasingly recognized as integral components of IPM programs, providing opportunities for manufacturers to develop and introduce innovative biological products that cater to the specific needs of diverse cropping systems. With IPM gaining momentum globally, the agricultural biologicals industry stands poised to thrive as it continues to contribute to sustainable and environmentally friendly pest management practices.

Agricultural Biologicals Market Trends

Here are some key agricultural biologicals market trends:

  • Increased Demand for Sustainable Agriculture: The global trend towards sustainable and environmentally friendly agricultural practices was driving the demand for agricultural biologicals. Consumers and farmers were increasingly seeking products that reduce environmental impact and promote long-term sustainability.
  • Technological Advancements: Ongoing research and development efforts were leading to the introduction of more advanced and effective agricultural biological products. Innovations in formulation, delivery systems, and the identification of novel biological agents were enhancing the performance and applicability of these products.
  • Integration of Digital Technologies: The integration of digital technologies, such as precision agriculture and data analytics, was becoming more prevalent in agriculture. This trend was extending to the use of agricultural biologicals, with digital tools helping farmers optimize the application of biological products based on specific crop and soil conditions.
  • Biostimulants on the Rise: The market for biostimulants, which enhance plant growth and resilience, was experiencing significant growth. These products were gaining popularity as they contributed to improved crop quality, increased yield, and better tolerance to environmental stress.

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Regional Analysis

South America to boost market growth during the forecast period

Due to the vast agricultural lands in South America, there is a growing awareness and concern regarding the environmental impact of conventional agricultural practices. To address these concerns, there is an increasing demand for agricultural biologicals as they provide more sustainable alternatives by reducing the reliance on synthetic pesticides and fertilizers. These biological products are derived from naturally occurring substances like beneficial microorganisms, plant extracts, and biopesticides, which contribute to improved soil health, biodiversity, and overall ecosystem sustainability. Additionally, South American countries are significant exporters of agricultural commodities, and to meet the stringent regulations of international markets, particularly in Europe and North America, farmers are adopting agricultural biologicals as a sustainable and residue-free alternative to conventional agrochemicals.

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Top Trends in the Agricultural Biologicals Market

Biostimulants Market

Biofertilizers Market

Biopesticides Market

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