Amsterdam, NL - August 14, 2020 -
Biological agriculture is a means of sustainable farming without the use of synthetic substances, it is a production system based on crop rotation. Biological agriculture promotes economic and well as ecological sustainability of the product, therefore minimizing environmentally harmful consequences. Agricultural biologicals are a diverse group of products derived from naturally occurring substances that include microorganisms, plant extracts, beneficial insects, or other organic matter. Agricultural biologics are beneficial to crop production and protection tools which makes use of natural processes to prevent infestation.
The increasing trend of sustainable agriculture globally and organically grown crops has been a key driver for this market. This technology supports green technology and circular economy by making use of naturally occurring processes and substances to minimize crop infestation. The rising awareness about the residue of agrochemicals and their harmful effects is another driver for this market.
The report titled, "Global Agricultural Biologicals - Market and Technology Forecast to 2028
" is segmented as Function, Application and Region. Based on function, the market is sub-segmented by application into Biocontrol, Biofertilizer and Biostimulants. The application segment is sub-segmented by product as Foliar Spray, Soil Treatment, Seed Treatment. The global market is divided regionally by function as NA, EU, APAC, Middle East, and RoW.
The global market for Agricultural Biologics is accounted to have a market size of USD 10 Billion in the year 2020 and it is expected to reach USD 28 Billion by the year 2028. The CAGR of this market is anticipated to be around 14% during the forecast period. Based on function, the Bio-controls based segment is the fastest growing area. Biocontrol is a term that quantifies biopesticides, bioinsecticides, bio fungicides, and bionematicide markets collectively. Biocontrols market dominates this segment owing to an increased infestation in major crops like wheat, rice, corn, and sugarcane. Microbial agricultural biologicals is the most widely used product, this is due to factors like availability of strains, ease of production, and a higher rate of adoption of microbials among farmers. Moreover the growing market for organic vegetables and fruits further propels the growth of this market. Based on application, the foliar spray segment dominates the market.
North America is expected to account to the largest market, it is attributed to high-end R&D infrastructure and the high number of patents received for biopesticides and biostimulants by companies based in the region. Europe is the second-largest market, this is due to the growing awareness amongst people about sustainable farming methods and the health benefits of residue-free organic crops. APAC is the fastest-growing segment globally owing to the increasing shift to sustainable farming from conventional methods
The study period of this report titled, "Global Agricultural Biologicals - Market and Technology Forecast to 2028
" is from 2018-2028, the forecast period of this report ranges from 2020-2028. The agricultural biologicals market is segmented based on Function, Application and Region.
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