The global agricultural biologicals market size was valued at USD 7.2 Billion in 2019 and it is expected to reach USD 13.5 Billion by 2026, expanding at a CAGR of 9.4%, according to a new report by Facts & Factors.
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Market Overview:
Agricultural biologicals are crop protection agents derived from natural sources. The growing global demand for high-quality crops has resulted in the development of crops that can withstand pest attacks to some extent with the help of agricultural biologicals, driving the global market. Because of the environmental damage caused by the use of large quantities of harmful chemicals for crop protection, there is a demand for biological products that can replace the harmful chemicals, which is driving the global agricultural biologicals market. Furthermore, strict government rules and regulations governing the use of chemical fertilisers in agriculture are expected to boost the agricultural biologicals market.
Segmental Overview
The global agricultural biologicals market is divided into four sections: product type, crop type, application, and region. Under product type segmentation, the biopesticides category dominated the segment in 2019 with a market share of more than 55% and is expected to grow at a steady CAGR during the forecast period. This expansion can be attributed to the increased use of biopesticides for turf, soil, and foliage in North America and Europe.
Cereals and grains dominated the crop type segment in 2019 with a market share of more than 40% due to increased global demand for crops such as corn, wheat, millet, rice, and barley. Due to the growing demand for agricultural biologicals to improve seed properties and boost crop yields, the seed treatment category dominated the segment in 2019 with a market share of around 23%.
Regional Overview
North America dominated the global agricultural biologicals market in 2019 with a market share of around 35%, and this dominance is expected to continue during the forecast period. The agricultural biologicals market in North America is expanding due to ever-improving agricultural activities such as technological advancements, favourable government regulations, improved farming techniques, and ongoing research and development initiatives. Because of the emerging agriculture sector in countries such as India, South Korea, the Philippines, Japan, and Thailand, the Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The growing consumer preference for organic products, combined with supportive government initiatives, is expected to boost the market in Asia Pacific during the forecast period.
Competitive Landscape
Isagro S.P.A., Bayer AG, Marrone Bio Innovations, Vegalab S.A., Valent Biosciences, Biolchim S.P.A., Valagro, Symborg, Seipasa, Biobest Group Nv, Agrinos Inc., CBF China Bio-Fertilizer AG, Mapleton Agri Biotec, Symborg S.L., BASF SE, Syngenta
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