(I-BusinessNews.Com, July 07, 2021 ) The report "Top Trends in the Agricultural Biologicals Market by Agricultural Biologicals, Biocontrols, Biofungicides, Bioinsecticides, Bionematicides, Biostimulants, Biofertilizers, Agricultural Inoculants, Agricultural Pheromones, Biological Seed Treatment - Global Forecast to 2025", is projected to grow at a CAGR of 13.7% from an estimated value of USD 9.9 billion in 2020 to reach USD 18.9 billion by 2025. The market is driven by factors such as increased awareness towards organic food, growing concerns about the hazards of using chemicals, demand for high-value crops, and increase in awareness about residue levels in food, and favorable regulatory framework for the application of agricultural biologicals products are some of the key drivers for growth in agricultural biologicals market.
Bionematicides is estimated to be the most important market trend among the top trends in agricultural biologicals market
Bionematicides are the fastest-growing trend in the agricultural biologicals market. Nematodes result in a heavy infestation of the plant parts such as roots, leading to heavy losses of crops every year. The major challenge is to feed the growing population and ensure food safety. It doesn’t kill the plant but hampers the growth of the plant, due to which bionematicides are gaining importance across the world. The growing concerns related to the application of crop protection chemicals and the gradual phase-out of key active ingredients used to control nematodes are some of the key drivers for the growth of the bionematicides market.
Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market
Bioinsecticides are projected to stand second, in terms of the fastest-growing trends, during the forecast period from 2020 to 2025. The rising awareness about technology in agriculture, high-value crops, and increased level of pest attacks due to various factors are the major drivers for the growth of bioinsecticides market. Various high-value crops such as corn, soybean, potato, and tomato face strong infestation by insects. Hence, bioinsecticides are experiencing high demand across regions, especially in North America. Bioinsecticides are widely adopted in North America due to high awareness about the growing concerns over the application of pesticides and increasing area under organic farming, which are also driving the market for bioinsecticides in this region.
The increasing demand for biocontrols in the North American region is projected to drive the growth of the agricultural biologicals market.
The North American region accounted for the largest share of the market in 2019. Growth in the organics industry, rise in the cost of chemical fertilizers, and increasing awareness for the preservation of soil nutrients are the major driving factors of this market. Growth in the North American region can be attributed to its high-end R&D infrastructure and the high number of patents received for biocontrol and biostimulants by various key companies in the region.
Key players in the agricultural biologicals market include BASF SE (Germany), Syngenta AG (Switzerland), Marrone Bio Innovations (US), Isagro S.p.A. (Italy), UPL (India), Evogene Ltd (Israel), Bayer AG (Germany), and Vegalab S.A. (US).
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