Global Agricultural Biologicals Market - 2023-2030

Market Overview

The Global Agricultural Biologicals Market reached US$ 13.6 billion in 2022 and is expected to reach US$ 39.3 billion by 2030 and is expected to grow with a CAGR of 14.2% during the forecast period 2023-2030.

Agricultural biologicals can include biopesticides, which are derived from naturally occurring substances such as bacteria, fungi, viruses, or plant extracts. They are used to control pests, including insects, mites, nematodes, and diseases. Biopesticides often have specific modes of action that target particular pests while minimizing harm to beneficial organisms and the environment. Biologicals can be valuable tools in managing pest resistance to chemical pesticides. By incorporating biopesticides into pest management programs, farmers can diversify their control strategies and reduce the selection pressure on pests, potentially slowing down the development of resistance.

Agricultural biologicals align with the principles of sustainable agriculture by promoting practices that maintain or enhance environmental quality, economic viability, and social well-being. They support reduced chemical inputs, biodiversity conservation, and long-term productivity. For instance, according to Food and Agriculture Organization (FAO), organic agriculture is practiced in 187 countries, and 72.3 million hectares of agricultural land were managed organically by at least 3.1 million farmers.

Market Dynamics

Growing Consumer Demand for Organic Agricultural Products is Propelling Industry Expansion

Consumers are becoming more conscious of the food they consume and are seeking products that are produced sustainably, with minimal chemical residues. The demand for organic and environmentally friendly food is rising, creating opportunities for agricultural biologicals as they offer a more natural and sustainable approach to crop production. There is a global trend towards sustainable agriculture practices that prioritize environmental stewardship, reduced chemical usage, and improved soil health.

Agricultural biologicals align with these objectives by offering eco-friendly alternatives to conventional inputs. As the agricultural industry increasingly embraces sustainability, the demand for agricultural biologicals is likely to grow. By properly utilizing biopesticides, it is possible to stop the loss of USD 60 billion per year brought on alone by fungal diseases to rice, wheat, and maize. In 2021, agricultural emissions will make up roughly 23% of all global GHG emissions, according to a report by Mitsui & Co. Global Strategic Studies Institute. These issues demand the usage of environmentally sound and sustainable agri-inputs, which will positively affect the market's expansion.

Increasing Demand for Sustainable Agriculture is a Remarkable Opportunity for Agricultural Biologicals Market

There is a growing global awareness of the environmental impact of conventional agricultural practices, such as the use of synthetic pesticides and fertilizers. Consumers, policymakers, and industry stakeholders are increasingly recognizing the need for more sustainable alternatives. Agricultural biologicals offer a more environmentally friendly approach, as they are derived from natural sources and have lower environmental impacts compared to synthetic inputs.

Consumers are actively seeking sustainable and eco-friendly products, including food and agricultural produce. A study conducted by Nielsen found that globally, 73% of consumers are willing to pay more for products that come from sustainable sources. This consumer preference provides a market opportunity for agricultural biologicals, which enables farmers to produce crops using sustainable methods and reduce their environmental footprint.

Limited Efficacy and Consistency are Projected to Hold Back the Agricultural Biologicals Market

Agricultural biologicals often face challenges in delivering consistent efficacy across different crops, regions, and environmental conditions. The performance of biological products can vary, and they may not always provide the same level of control as synthetic chemicals. This inconsistency can create uncertainty for farmers and limit their widespread adoption.

Agricultural biologicals can sometimes be more expensive than conventional synthetic inputs. The production, formulation, and regulatory requirements for biological products can contribute to their higher cost. This cost differential can deter farmers, especially those with tight profit margins, from adopting agricultural biologicals on a large scale.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global agricultural biological market is segmented based on type, source, mode of application, application, and region.

By Type, the Biopesticides Segment is Estimated to Have Significant Growth During the Forecast Period

Biopesticides have shown effectiveness in managing pests and diseases in various crops. They often have low toxicity levels and pose minimal risks to humans, non-target organisms, and the environment. According to India's agricultural ministry, biopesticides currently account for only 2.89% of the 100,000 metric tons of pesticides sold worldwide but are expected to grow by an estimated 2.3% annually. The safety and efficacy of biopesticides make them attractive to farmers and contribute to their market share.

The organic agriculture sector has experienced significant growth due to increased consumer demand for organic products. Organic farming relies on the use of natural inputs and prohibits the use of synthetic chemical pesticides. Biopesticides align well with organic farming practices and are widely used in this sector, contributing to their market share.

Geographical Analysis

Asia Pacific is the Fastest Growing Market in the Agricultural Biologicals Market

Asia Pacific has a large and growing population, which drives the demand for food and agricultural products. With a rising middle class and changing dietary preferences, there is an increasing need for sustainable and high-quality food production. According to Statista, Asia Pacific holds 20.8% of the agricultural biologicals market in 2020. Agricultural biologicals offer eco-friendly solutions for crop protection, nutrient management, and soil health improvement, aligning with the region's growing demand for sustainable agriculture.

Asia Pacific is known for its diverse agro-climatic conditions, ranging from tropical to temperate regions. These favorable climatic conditions support a wide range of crops and agricultural activities. Agricultural biologicals are well-suited for these diverse environments, providing effective solutions for pest and disease management and crop productivity improvement. The adaptability of agricultural biologicals to Asia Pacific's climatic conditions contributes to their market growth.

Competitive Landscape

The major global players in the market include: Monsanto Company, BASF SE, Arysta LifeScience Limited, Bayer AG, Valagro SpA, Syngenta AG, Koppert B.V., Certis USA, Agrinos AS, and DowDuPont Inc.

Why Purchase the Report?

• To visualize the global agricultural biologicals market segmentation based on type, source, mode of application, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of agricultural biologicals market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global Agricultural Biologicals market report would provide approximately 69 tables, 67 figures, and 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies