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The agricultural biologicals market is projected to grow at a CAGR of 13.7% to reach USD 24.6 billion by 2027.
Function
The Biocontrol segment is estimated to achieve the fastest growth in the Agricultural Biologicals market. This growth is attributed to the increasing popularity of biopesticides in crop protection compared to their synthetic counterparts due to their lower development cost, suitability in sustainable agriculture, and ability to manage resistance in integrated pest management schemes.
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Product Type
The microbial segment is estimated to account for the largest market share in the Agricultural Biologicals market. Microbial biological control agents (MBCAs) are used to biologically control plant pathogens in crops, and they work in various ways. They interact with plants via inducing resistance or priming plants and modulate pathogen growth conditions through nutritional competition or other methods.
Mode of Application
The foliar segment is estimated to account for the largest market share of the Agricultural Biologicals market over the forecast period. The ease of use and non-technicality of the method are key factors that have led to its increasing popularity and preference. Foliar sprays are also widely accepted due to their low cost than soil and seed treatment.
Crop Type
The fruits & vegetables segment accounts for the largest share in the agricultural biologicals market since most companies offer biological solutions for vegetable crops. According to the FAO’s Statistical Yearbook of Food & Agriculture Organization, the production of vegetables has grown intensively on a per capita basis and has increased by nearly 60% in the last 20 years. Moreover, the production of vegetables accounts for nearly 12% of the total area and 14% of the total production globally.
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Region
North America is estimated to be the largest market, driven by the increasing applications in the agricultural sector for the adoption in fields, vegetables, and fruit crops. The governments in the North American region have made the registration of biopesticides products more efficient through the development of modified test methodologies and clear guidance documents.
Key Market Players
The key players in this market include BASF, Syngenta, Bayer AG, UPL, Marrone Bio Innovation, Inc, Gowan Company, Vegalab SA, Lallemand Inc, Valent Bioscience, Koppert Biologicals System, Biovert S.L., Trade Corporation International, Stockton Bio AG, Biolchim SPA, and Rhizobacter. These companies have a strong presence in North America and are focusing on increasing their presence through agreements and collaborations.