|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 15.5 Billion||USD 19.5 Billion||7.9%||2022|
Agricultural Biological Market
The global agricultural biological market size was evaluated at $15.5 billion in 2022 and is slated to hit $19.5 billion by the end of 2030 with a CAGR of nearly 7.9% between 2023 and 2030.
Agricultural biological are varied kinds of products extracted from naturally occurring microorganisms, beneficial insects, and plant extracts. Biological agriculture is a process of environment-friendly farming that does not make usage of pesticides or fertilizers. Furthermore, biological farming is defined as a manufacturing system dependent on the rotation of crops and recycling of animal manure & crop residues. In addition to this, it knows the requirement of a balanced relationship between 3 aspects of the land, particularly, chemical nutrients, physical features, and biological facades for the sustainment of life on the earth.
In addition to this, biological agriculture is a financially & ecologically sustainable agriculture manufacturing system that helps in the promotion of the safe use of products for treating crops to enhance its yield. Furthermore, agricultural biologicals are a product assortment that is extracted through organic matter including extracts of plants as well as naturally occurring microbes. These agricultural biologicals are used in agricultural soil for enhancing the crop yield along with improving its health.
Innovations in farming to boost global market trends
The rapid expansion of the agricultural biological market over the forecast timeline can be ascribed to the massive requirement for innovations in farming activities for fulfilling the dietary needs of the exploding global population. Apart from this, escalating demand for organic food items, the need for increasing crop output, and exponentially rising costs of fertilizers will embellish the market growth over the forecast timespan. In addition to this, a surge in the utility of microbial seed-treated products and effective residue management will exponentiate the growth of the market globally over the forthcoming years.
Apart from this, favorable government laws supporting the use of agricultural biologicals will boost the market trends. Moreover, the growing preference for sustainable farming activities will increase product penetration across the globe over the years to come. New product launches will contribute majorly towards the global market earnings. In August 2023, FMC, an agricultural sciences firm based in India, introduced ENTAZIA™ biofungicide, a paradigm shift in the fertilizer sector for crop protection in India.
Surging product costs can hinder global industry expansion over the forecast period
Rising costs of agricultural biologicals can put brakes on the expansion of the global agricultural biological industry. High production costs and reduced scalability can further impede global industry growth.
Surge in pest management activities to open new growth opportunities for the global market
An increase in integrated pest management activities will generate new growth avenues for the global agricultural biological market in the years ahead. Furthermore, the use of agricultural biologicals in various kinds of cropping systems will embellish the global market trends.
Demand for product consistency and efficiency can prove to be a big challenge for the global industry
Need for acquiring consistency and reliable efficacy in agricultural biologicals poses a huge challenge for pests and crops, thereby impacting the expansion of the global agricultural biological industry.
The global agricultural biological market is sectored into type, source, application, and region.
In type terms, the global agricultural biological market is segregated into biofertilizers, biostimulants, and biopesticides segments. Furthermore, the biopesticides segment, which acquired nearly 60% of the global market revenue in 2022, is set to register the highest growth rate in the upcoming timespan. The growth of the segment during the projected timeline can be due to a rise in the focus of farmers on developing pest-resisting products for improving crop yield. Apart from this, escalating demand for organic food items will further boost the segmental surge over the upcoming years.
Based on the source, the global agricultural biological industry is sectored into microbial and biochemical segments. Moreover, the microbial segment, which accumulated a major global industry share in 2022, is predicted to lead the global industry over the anticipated timeline. The segmental surge over the forecast period can be a result of a rise in the acceptance of microbial by farmers for resolving farming-related issues such as plant protection, soil health maintenance, and a rise in crop yield as well as improving yield quality.
Based on the application, the agricultural biological market across the globe is divided into fruits & vegetables, oilseeds & pulses, and cereals & grains segments.
|Report Attributes||Report Details|
|Report Name||Agricultural Biological Market|
|Market Size in 2022||USD 15.5 Billion|
|Market Forecast in 2030||USD 19.5 Billion|
|Growth Rate||CAGR of 7.9|
|Number of Pages||217|
|Key Companies Covered||BASF SE, Koppert B.V., Syngenta, Marrone Bio Innovation Inc., The Dow Chemical Company, Certis USA LLC, Bayer AG, Isagro, Novozymes, Arysta LifeScience Corporation, and others.|
|Segments Covered||By Type, By Application, By Source, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America is predicted to maintain its dominant position in the global agricultural biological market over the analysis timeline
North America, which accounted for about 60% of the global agricultural biological market revenue in 2022, will be a dominating region over the prognosis timeframe. In addition to this, the regional market expansion can be credited to the rise in farming activities in both developing economies as well as developed nations. The presence of key players in the region will steer the expansion of the regional market players. Rise in crop production owing to restrictions on the use of synthetic chemicals will prompt regional market expansion.
The European agricultural biological industry is set to register the fastest CAGR in the ensuing years owing to a rise in government investments in agricultural biologicals. Furthermore, Germany, Denmark, Spain, and Italy are likely to contribute majorly towards the industry expansion in the continent.
Agricultural Biological Market: Competitive Space
The global agricultural biological market profiles key players such as:
Agricultural biological are varied kinds of products extracted from naturally occurring microorganisms, beneficial insects, and plant extracts.
The global agricultural biological market growth can be owing to escalating demand for organic food items, the need for increasing crop output, and exponentially rising costs of fertilizers.
According to a study, the global agricultural biological industry size was $15.5 billion in 2022 and is projected to reach $19.5 billion by the end of 2030.
The global agricultural biological market is anticipated to record a CAGR of nearly 7.9% from 2023 to 2030.
The European agricultural biological industry is set to register the fastest CAGR over the forecasting timeline owing to a rise in government investments in agricultural biologicals. Furthermore, Germany, Denmark, Spain, and Italy are likely to contribute majorly towards the industry expansion in the continent.
The global agricultural biological market is led by players such as BASF SE, Koppert B.V., Syngenta, Marrone Bio Innovation Inc., The Dow Chemical Company, Certis USA LLC, Bayer AG, Isagro, Novozymes, and Arysta LifeScience Corporation.
The agricultural biological market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.