Agricultural biologicals are a group of products derived from organic matter such as plant extracts, and also from certain microorganisms which are used to increase crop productivity and crop health. It is a combination of environment friendly fertilizers, stimulants and pesticides, and other techniques that are environment friendly and are used in farming.
Growing demand for organic farming techniques to be used in farming across the globe is a major factor fueling growth of the global Agricultural Biologicals market over the forecast period. Also, stringent government and environmental regulations for limiting use of chemical-based farming products is another factor expected to boost growth of the global agricultural biologicals market over the forecast period. Moreover, increasing government initiatives for support of organic farming practices especially in developed economies is another major factor projected to aid growth of the global market to a significant extent. But, easy availability and widespread presence of agricultural biologicals coupled with lack of awareness about agricultural biologicals are major factors expected to hamper growth of the global market over the forecast period to a significant extent.
A major and rising trend in the global market is transition from chemical-based farming techniques to organic farming practices, which is anticipated to fuel growth of the target market over the forecast period.
The global agricultural biologicals market report has been segmented on the basis of type, source, application, and region. On the basis of region, the global agricultural biologicals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in the global market in terms of revenue, as compared to that of markets in other regions. This can be attributed to increasing government support for adoption of agricultural biologicals in countries in the region. Also, the European market is expected to account for second-highest revenue share in the global market, followed by the markets in Asia Pacific and other regions. The market in Asia Pacific is projected to register highest CAGR of XX.X% over the forecast period, owing to growing awareness about agricultural biologicals and increasing number of government initiatives for support of organic farming practices in emerging economies such as China, Japan, and India.
Prominent players in the global agricultural biologicals market include The Dow Chemical Company, Bayer CropScience AG, BASF SE, Isagro Spa, Novozymes A/S, Marrone Bio Innovation Inc., Certis USA LLC, Koppert B.V., Certis USA LLC, and Agrinos AS.