Agricultural Biologicals Market to Exceed USD 40 billion by 2035, Registering at a CAGR 9.98% by 2035, Due to The Growing Demand for Organic Crop Production | Roots Analysis

LONDON, Nov. 30, 2023 /PRNewswire/ -- According to the Roots Analysis latest market report "Agricultural Biologicals Market by Type of Product, Source of Product, Mode of Application, Type of Crop Treated and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035", the global agricultural biologicals market size is projected to reach USD 40 billion by 2035 from USD 14.7 billion in 2023, growing at a CAGR of 9.98% in the forecast period 2023-2035.

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Agricultural biologicals consist of a diverse range of products, such as biopesticides, biofertilizers, and biostimulants. These products are derived from naturally occurring sources like microorganisms, plant extracts, beneficial insects, or other organic matter, with the aim of enhancing soil fertility, promoting biological activity, and fostering plant growth. Unlike chemical pesticides and fertilizers, agricultural biologicals are environmentally friendly, leaving no harmful residues in the ecosystem. They also help mitigate the risks associated with the health of farmers and consumers.

Over the years, harmful agricultural practices and the excessive use of chemical pesticides and fertilizers have depleted beneficial microorganisms in the soil, resulting in poor soil quality and compromised crop health. The application of agricultural biologics, including biopesticides, biofertilizers, and biostimulants, is a strategic approach to reducing dependence on conventional chemical inputs. Additionally, these biologics play a crucial role in establishing the foundation for sustainable agriculture and organic farming systems, contributing to the production of organic food. The adoption of agricultural biologicals not only addresses environmental concerns but also promotes a healthier and more sustainable approach to agricultural practices.

Agricultural Biologicals Market Segments

Based on the type of product, the market is segmented into Biopesticides / Biocontrols, Biofertilizers and Biostimulants

• The biopesticides / biocontrols segment is likely to lead the market for agricultural biologicals, capturing the largest revenue share of close to 50.0% in 2023.
• The biofertilizers segment is anticipated to show the highest growth potential during the forecast period of over 10% annually.

Based on the source of product, the market is segmented into Microbes, Plant Extracts and Other Sources of Products

• The microbial products segment led the market for agricultural biologicals, capturing the largest revenue share of more than 55.0% in 2023.
• The plant extracts-based products segment is anticipated to show the highest growth potential during the forecast period of over 11% annually. This is attributed to owing to the technological advancements in extraction protocols

Based on the mode of application, the market is segmented into Foliar Sprays, Seed treatments, Soil Treatments and Other Modes of Application.

• The foliar sprays segment led the market for agricultural biologicals, capturing the largest revenue share of more than 50.0% in 2023.
• The seed treatment segment is anticipated to grow at significant CAGR during the forecast period owing to various advantages offered by seed treatment solutions, such as protective coating and ease of application.

Based on the type of crop treated, the market is segmented into Cereals and Pulses, Fruits and Nuts, Oilseeds, Green Fodder, Vegetables and Tubers and Industrial Crops, Textile Crops and Others

• The cereals and pulses segment led the market for agricultural biologicals, capturing the largest revenue share of close to 35.0% in 2023.
• The fruits and nuts segment is anticipated to show the highest growth potential during the forecast period of over 11% annually.

Agricultural Biologicals Market Regional Outlook

Based on the key geographical regions, the agricultural biologicals market can be segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and Middle East & North Africa. Led by the US, North America is anticipated to capture the majority share of the agricultural biologicals market in 2023 and this trend is likely to remain unchanged during the forecast period. The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the agricultural biologicals markets in the region is driven by escalating corporate investments within the Asia-Pacific region, driven by a rising tide of government backing for sustainable organic farming and growing demand for organic food products.

Key Report Takeaways

• Presently, over 200 companies claim to offer agricultural biologicals for sustainable farming; close to 105 such players have entered this domain post - 2000
• 40% of the agricultural biological providers offer all three kinds of products for various types of crops; over 85% of such players provide these products as foliar sprays
• In pursuit of building a competitive edge in this field, stakeholders are actively upgrading their existing capabilities and adding new competencies in order to enhance their respective product portfolios
• The growing interest in this domain is evident from the rise in partnership activity; in fact, 43 partnership deals related to agricultural biologicals were inked in 2022
• Since 2019, more than 1,300 patents have been filed / granted by various stakeholders in order to protect the intellectual property generated within this domain
• Considering that the market for agricultural biologicals is relatively mature, featuring the presence of over 3,000 products, the threat of substitute products is relevantly high
• As a result of the growing demand for organic food products, the agricultural biologicals market is likely to grow at a CAGR of ~10% over the next 12 years
• The agricultural biologicals market is expected to be well distributed across different type of products, source of products, modes of application, type of crops treated and key geographical regions

Agricultural Biologicals Market Key Players

Examples of key companies engaged in agricultural biologicals market (which have also been profiled in this market report; the complete list of companies is available in the full report) include AMVAC, Andermatt, BASF SE, Bayer AG, Certis Biologicals, Corteva Agriscience, Chr. Hansen, FBSciences, Koppert Biological Systems, Lallemand, Marrone Bio Innovations, Novozymes, Stoller, Syngenta AG, UPL, Vegalab, Valent Biosciences, and Verdisian Life Sciences.

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