DataM IntelligenceThe Global Agricultural Biologicals Market is expected to grow at a CAGR of 13.67% in the forecast period of (2022-2029).Market Overview
Agricultural biologicals are both derived from herbal materials, include them or use clearly-happening processes to provide a benefit to crop manufacturing. Agricultural biologics assist shield plants from pests, weeds, and illnesses.
Agricultural biologicals can provide a couple of benefits, inclusive of improving nutrient uptake, providing insect manipulate or sickness safety, and enhancing yield.
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Market Dynamics
An increasing call for eco-friendly and organic merchandise is one of the key propelling elements for the market boom. For example, according to the Research Institute of Organic Agriculture, the sales of organic products reached YY USD Million in 2017 compared to YY USD Million in 2016, substantial growth of 7%.
Also, rising stress on the agriculture region to make contributions to sustainable practices towards climate change is riding the call for biological products. Moreover, growing R&D practices in the discipline of agricultural biologics might be a key aspect propelling the increase of the marketplace.
For instance, in April 2016, BASF opened a new R&D centre for organic crop safety and seed answers in Limburgerhof, Germany. However, the restrained availability of merchandise and occasional efficacy of biologicals may impede the increase of the market.
Market Segmentation
By Type
l Biopesticides
l Biostimulants
l Biofertilizers
l Others
By Application
l Cereals & Grains
l Oilseeds & Pulses
l Fruits & Vegetables
l Others
By Region
l North America
l South America
l Europe
l Asia Pacific
l Middle East and Africa
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Market Competitive Trends
The global agricultural biological market is fragmented with the presence of many local and international players. However, BASF SE, Arysta LifeScience Limited., Bayer AG, Syngenta, Agrinos AS, and Monsanto Company are the prominent players in the global agricultural biologicals market. Monsanto Company is one of the major companies in agricultural biologicals and is enhancing the market through technology.
For instance, in July 2018, Exosect Ltd. has granted Monsanto Company a license to use its Entostat technology for the delivery of select agricultural biologicals as seed treatments.
The companies are focused on business expansion at key geographical regions to expand the global footprint and consolidate the market position. For instance, in August 2017, BASF AG announced the expansion of its manufacturing facilities in Saskatoon, Canada, for biological inoculants production.
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