Top 5 Agricultural Biologicals Companies : Key Trends, Growth Drivers and Insights Report
The Global Agricultural Biologicals Market is projected to grow significantly, increasing from approximately USD 9.26 billion in 2021 to an estimated USD 29.29 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 14.30% over the period from 2021 to 2030, according to a recent study by Spherical Insights & Consulting. This expansion reflects the rising demand for sustainable agricultural practices and eco-friendly solutions in crop management.
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The term "agricultural biologicals" refers to naturally occurring microorganisms derived from plants that effectively protect crops from various diseases and pests that can harm them. Besides offering disease protection, these biological solutions can enhance crop fertility and overall yield. They play a crucial role in integrated pest management strategies, allowing for a sustainable approach to agriculture. These products can be used in conjunction with chemical pest control agents and other plant protection products to achieve optimal crop protection and minimize plant diseases.
Top 5 Agricultural Biologicals Companies: Key Trends, Growth Drivers, and Insights
In this report, we explore the leading companies in the agricultural biologicals sector, highlighting their innovative approaches and strategies. Here are the key trends, growth drivers, and insights shaping the industry:
Browse 53 market data tables and 48 figures spread through 263 pages and in-depth TOC on “Global Agricultural Biologicals Market Size, Share, and COVID-19 Impact Analysis, By Function Type (Biopesticides, Biostimulants, and Biofertilizers), By Source (Microbial, Natural Products, and Biochemicals), By Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”
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Favorable Government Regulatory Structure Propel Market Growth
The U.S. Environmental Protection Agency (EPA) generally requires less extensive data for the registration of biopesticides compared to chemical pesticides, as biopesticides typically present fewer environmental risks. Consequently, while chemical pesticides often take more than three years to register, new biopesticides can often be approved in under a year. In the European Union, however, biopesticides are regulated under the same framework as chemical pesticides. The EU benefits from timely and comprehensive support from the OECD, a 34-member organization based in Paris, which aids in the evaluation of biopesticides to ensure safety for humans and the environment.
Increasing Demand for Natural and Environmentally Friendly Products Drive Market Growth
The primary driver of growth in the agricultural biologicals market is the increasing consumer awareness of the benefits of organic products in farming, leading to a heightened demand for natural and environmentally friendly solutions in agriculture. In the coming years, this growth is expected to be further supported by rising costs of fertilizers and pesticides. Additionally, government initiatives, such as subsidies and marketing campaigns promoting natural farming, will play a significant role in fostering market expansion during the forecast period. Furthermore, agricultural biologicals help reduce plant stress, enabling farmers to enhance yield and productivity, which is a crucial factor driving market growth.
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Low Adoption Rate of Bio-Based Agricultural Products Hamper Market Growth
The slow adoption rate of bio-based agricultural products poses a significant challenge to the growth of the global agricultural biological market. Agricultural biologicals tend to be less effective than their chemical counterparts in controlling pests and fungi. They can also be more complex to use, often requiring a higher level of technical knowledge from users. Furthermore, agricultural biologicals, including biopesticides, are generally more susceptible to adverse environmental conditions compared to chemical pesticides, which adds another layer of difficulty in their application.
The Global Agricultural Biologicals Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa
North America region dominates the market share of the global agricultural biologicals market owing to the regions need for biological products are rising as a result of the rising desire for organic agriculture
North America holds the largest share of the global agricultural biologicals market, driven by a growing demand for organic farming products. The U.S. Environmental Protection Agency (EPA) has enhanced the efficiency of biopesticide registration through updated testing methodologies and clear guidance documents, resulting in over 430 biopesticide ingredients now available in the country. Meanwhile, the Asia Pacific region is projected to experience the highest growth rate, as it is home to numerous agrarian economies, including India, Japan, Thailand, Malaysia, South Korea, and the Philippines.
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REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Agricultural Biologicals Market. The Global Agricultural Biologicals Market is segmented by Function Type, Source, Application Method, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Agricultural Biologicals Market.
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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