The market for agricultural
biologicals is projected to grow at a CAGR between 14% to 15% from 2018
to 2024. Agricultural biologicals are naturally occurring solutions which can
be used as a replacement to chemical fertilizers and pesticides. Growing demand
for organic farming, increasing awareness about the disadvantages of chemical
fertilizers and pesticides, rising demand for food by the growing population,
and changing mentality of the farmers inclining more towards usage of
biological products for environment safely is driving the market for
agricultural biologicals. Along with this, rising cost of fertilizers and
increasing government bans and strict regulations for pesticides and
fertilizers is fueling the growth of agricultural biologicals market.
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The major types of agricultural biologicals considered
in the study are biopesticides, biofertilizers, biostimulants and Others.
Biopesticides dominate the market due to high usage of biopesticides as an
alternative to chemical pesticides and increasing support of European countries
for use of only biologicals in the agricultural field.
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The crop types considered in the agricultural biologicals
market are cereals, oilseeds & pulses, flowers & ornamentals, fruits
& vegetables and others. The market for cereals & grains is highest due
to high consumption of these food grains all over the world thus high usage of
agricultural biologicals on them. Based on mode of application the global
agricultural biologicals market segmented into seed treatment, soil treatment
and foilar spary.
The agricultural biologicals market is studied for
Americas, Europe, Asia-Pacific, and RoW which includes the Middle East and
Africa.
Europe dominated the market with the largest market
share followed by Americas and Asia-Pacific.
Spain and Italy are the largest markets in the
country-level market in European region.
Rising demand for organic products, reduced chemical
hazards, improved yield, and increased productivity along with no harmful
residue problem by using agricultural biologicals is driving the market growth
in Europe.
Asia-Pacific is the fastest growing region in the
agricultural biologicals market.
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Email: sales@axiommrc.com
Tel: +1(845)875-9786, +44(0) 20 23869707
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