Factors that Drive the Growth of the Global Agricultural Biologicals Market
According to a new report published by Allied Market Research, titled, “Agricultural Biologicals Market by Type (Biopesticides, Biofertilizers, and Biostimulants), Source (Microbials and Biochemicals), Mode of Application (Foliar Spray, Soil Treatment, and Seed Treatment), and Application (Cereals & Grains, Oilseeds & Pulses, and Fruits): Global Opportunity Analysis and Industry Forecast, 2018–2025,” the report offers detailed insights on top investment pockets, trends & opportunities, major segments, and competitive scenario. The major factors that contribute toward the growth of the market include rise in demand for healthy food products and enforcement of stringent government regulations to reduce fertilizer & pesticide usage. In addition, increase in environmental hazards of chemical-based agricultural products/inputs and surge in population fuel the growth of the global agricultural biologicals industry. However, lack of awareness toward benefits offered by biopesticides and their low adoption rate due to short shelf life hinder the market growth. On the contrary, high growth potential in developing countries and need for the development of broad-spectrum formulations in agricultural biologicals are expected.
The role of agricultural biological is to eliminate the use of chemical pesticides and fertilizers used in farming. Agricultural biological is referred as a production system based on organic matter such as naturally occurring microorganisms, plant extracts, recycling animal manure, green manure, and crop residue. These products are integrated with pest management practices in developed countries to protect crop from pests, weeds, and diseases, thereby maintaining crop health. They are used in combination with new synthetic crop chemistries, and involve less use of agricultural machinery. The use of biological fertilizers is an economically and ecologically sustainable agriculture practice, which promotes deployment of safe products for crop treatment. This is accomplished by minimizing environmentally harmful consequences and using nonrenewable natural resources. In addition, biological fertilizers minimize the use of chemicals and synthetic fertilizers for the growth of nutritious and healthy crops.
According to Shankar Bhandalkar, Sr. Research Analyst, Consumer Goods at Allied Market Research “The demand for organic products has been witnessed to increase considerably, as nonorganic products contain unwanted fertilizers and pesticides. Prolonged consumption of such food products increases toxicity in humans, which causes life-threatening diseases, thereby driving the sales of agricultural biologicals. In addition, biological fertilizers provide sufficient amount of nutrients to soil, thereby multiplying the productivity of soil and increasing farm yield. Increase in yield of farm helps to cater to the global food demand of growing world population. Moreover, upsurge in demand for agricultural biologicals to address the health of crops and low-yield issues has promoted manufactures to expand product lines in accordance to consumer preference, which drives the growth of the global market.”
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Agricultural biological market by type is classified into biopesticides, biofertilizers, and biostimulants. The biopesticides segment dominated the market with the largest share in 2017, and is expected exhibit significant growth during the forecast period. This is attributed to the fact that these pesticides are inherently less toxic as compared to conventional pesticides, affect only target pests & closely related organisms, and decompose rapidly, resulting in lower exposures and largely avoiding pollution problems. Moreover, they contain latent cells of microorganisms that help plant to take up nutrients from soil when applied through seed or soil. It accelerates certain microbial processes in the soil, which boosts the extent of availability of nutrients in a form easily assimilated by plants. Thus, rise in demand for organic food and implementation of stringent regulations by government toward the use of harmful chemical-based fertilizers due to the ill effect upon consumption are expected to propel the growth of the global biofertilizers market during the forecast period. Furthermore, increase in health consciousness, rise in awareness of organic food products, and surge in preference for healthy & organic farm food are anticipated to provide potential opportunities for manufacturers to innovate and develop new products under their established brands.
The major players profiled in this report include The DOW Chemical Company, Isagro SPA, Novozyme A/S, Bayer Cropscience AG, Koppert B.V., Valent Biosciences Corporation, Marrone Bio Innovation Inc., Arysta Lifescience Limited, Certis USA LLC, and BASF SE.
Research Analyst at Allied Market Research
Ranjan has over 4 years of experience in market research and consulting across multiple domains which include technology, FMCG and durable consumer goods, heavy machinery, and automotive. He has hands on expertise in predictive and exploratory research projects for studying regional and global demand potential, market estimation & forecast, perceptions; analyzing macro and micro markets in terms of key gaps and opportunities. Ranjan is part of multiple consulting as well as syndicated report assignments and is actively involved in all the stages of project completion from planning, execution to delivery as per clients satisfaction.
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