Agricultural biologicals Market is presently worth USD 12.9 billion and is poised to amplify at a CAGR of 12.74% over 2022-2030, thereby amassing USD 36.03 billion by end of the assessment timeline.
Agricultural biologicals referred to as biologics, are important instruments for crop productivity and protection that are made from natural resources. These goods aid in the defence of plants against pests and are rapidly being used into contemporary farming methods. These goods have been used by numerous agricultural communities all over the world to establish sustainable farming.
Market Overview:
A class of agricultural biologicals called microbes is derived from microorganisms like bacteria and fungi. These bacteria boost plant fertility and yield while also defending crops from pests and illnesses. Biocontrol, biofertility, and bioyield enhancers are three subcategories of microbes. Fungi, bacteria, and other microorganisms known as biocontrols protect plants from weeds, insects, and disease. The plant can more easily acquire phosphate and nitrogen from the soil thanks to biofertility bacteria. Bioyield enhancers are substances obtained from microbes and plants that improve a plant's nutritional capacities and aid in rapid plant development.
The main drivers of the expansion of the biologicals segment for crop protection and crop enhancement are issues including declining productivity, deteriorating soil health brought on by the increased use of chemical-based crop protection technologies, and rising insect infestation rates. The need for agricultural biologicals in the agriculture business has been boosted by strong movements toward organic farming and rising environmental protection consciousness.
Since China is one of the world's main producers of raw materials for the agriculture biologicals industry, the consequences of the COVID-19 pandemic on this market began to be seen in China in 2020. The majority of agriculture biological enterprises in Europe and North America have imported crucial active components, primarily from China and other Asian nations, employed in the production of biologicals. Since the current crisis was continuing, it was likely that there wouldn't be enough raw materials available as the growing season went on. Due to this, goods became scarce in countries with rapid economic expansion, like the United States, Brazil, Spain, and Italy.
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Segmentation Analysis of Global agricultural biologicals market:
Based on type
- Biopesticides
- Bio stimulants
- Biofertilizers
- Other
Based on source
- Microbial
- Biochemicals
- Other
Based on application method
- Foliar spray
- Soil treatment
- Seed treatment
- Others
Based on crop
- Row crops
- Fruits and vegetables
- Others
Competitive Landscape:
The Key players in the Global agricultural biologicals Market are Bayer Cropscience, Isagro Group, Syngenta, BASF SE, Corteva Agriscience, Valent Biosciences, Novozymes, T. Stanes Company Ltd., Valagro, and Marrone Bio Innovations.
Covid-19 Impact:
The COVID-19 epidemic had a negative impact on a number of economies worldwide. Globally, several businesses, particularly agriculture and crop security, were negatively impacted by the total lockdown and quarantine necessary to combat COVID-19. In the first quarter of 2020, the agriculture biologicals market had a significant slowdown in sales, mostly as a result of the disruption in logistics and transportation. The farm biologicals market experienced disruptions in all areas of the sector's value chain, from the supply of raw materials through manufacture, packaging, and distribution.
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Key Market Players:
- What is the growth rate of this Market?
- What are the primary growth determinants of the Global agricultural biologicals market?
- Which are the major regions constituting the geographical landscape of Global agricultural biologicals Market?
- Which are the prominent companies operating in Global agricultural biologicals Market?
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