December 10, 2019
According to the latest study titled ‘Agricultural Biological Market to 2027 - Global Analysis and Forecasts by Type (Biopesticides, Biostimulants, Biofertilizers), Source (Microbials, Biochemicals, Others), Application Mode (Foliar Sprays, Soil Treatment, Seed Treatment), Application (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others) and Geography’ available with Market Study Report LLC, the global agricultural biological market is expected to accumulate US $21,141 million by the year 2027.
Agricultural biological is used as a supplement for synthetic or chemical plant protection products like fungicides, chemical pesticides, or insecticides. The increasing demand for the agricultural biological products is due to its less manufacturing cost and low environmental impacts. The ability of products to enhance nutrient uptake capacity of the plant, provide growth nutrients, improve plant yield, and aid insect resistance is encouraging the farmers to opt for agricultural biologics over chemical products. Shifting trend of organic farming and rising environmental concerns, along with favorable government initiatives are propelling the growth of agricultural biological market.
The study cites that agricultural biological market was valued at US $7,148.8 million in 2018 and is anticipated to register a growth rate of 12.9% during the period of 2019-2027. The study encompasses information about the market dynamics covering drivers and restraints is also outlined in the report.
Based on type, agricultural biological market from the biopesticides segment is presumed to witness accelerated growth over the analysis period, on account of rising interest for pesticide residue-free produce. The product is used to limit agricultural pests by means of certain biological effects.
In terms of source, the industry is divided into microbials, biochemicals, and others. Speaking of application spectrum, agricultural biological market is split into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. On the basis of application mode, the industry is divided into soil treatment, foliar sprays, and seed treatment.
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As per the geographical landscape, APAC dominated the global agricultural biological market in the recent past, owing to increasing adoption of organic farming and surging awareness about maintaining ecological balance across the emerging nations of China and India, cites the report.
Some of the vendors that operate in agricultural biological market are Biolchim S.p.A., BASF SE, DowDuPont Inc., Certis U.S.A. LLC, Koppert Biological Systems, Isagro S.p.A, Syngenta, Marrone Bio Innovations, Inc., Valent BioSciences LLC, and UPL among others.
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