Global Agricultural Biological Market to Surpass US$ 21.25 Billion by 2025
Coherent Market Insights
Global Agricultural Biological Market to Surpass US$ 21.25 Billion by 2025, fuelled by increasing demand for organic products
SEATTLE, WASHINGTON, UNITED STATES, November 15, 2017 /EINPresswire.com/ -- The agricultural biological market was valued at US$ 5.99 Billion in 2016 and is projected to reach US$ 21.25 billion by 2025, exhibiting a CAGR of 15% during the forecast period, according to Agricultural Biological Market, by product type (Biopesticides, Biofertilizers, and Biostimulants) by Source (Microbials, Biorationals, and Others), by Mode of application (Soil Treatment, Seed Treatment, and Foliar spray) by application (Cereals and grains, oil seed and pulses, Fruits and vegetables, and Others) published by Coherent Market Insights.
Growing demand for organic products coupled with the increasing government participation in conservation of environment are the major drivers for the growth of global agricultural biological market. Moreover, high yield and enhanced growth of plants and nutrients are increasing the adoption of agricultural biological systems, which in turn is propelling the market growth.
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Key Trends and Analysis of the Global Agricultural Biological Market:
In terms of product segmentation, Bio pesticides accounted for the largest market in 2016 and is expected to show the same trend during the forecast period, owing to increasing awareness of the hazards done to the environment by the chemical pesticides. Moreover, the growing demand for organic food coupled with increasing cost of synthetic fertilizers is further adding to market growth.
In terms of mode of application, biological soil treatment is the largest segment owing to its ability to improve soil and nutrient growth. Moreover, biological seed treatment is the fastest growing segment and is expected to show the same trend during the forecast years. The rise in demand for high quality seeds coupled with the growing demand for organic food is the major factor attributing to the growth of biological seed treatment.
In terms of application, cereals and grains are the largest market and is expected to retain its dominance during the forecast period. Cereals and grains are the major crops, owing to which the demand for the use of agriculture biological in these crops are high. Moreover, the increasing awareness about the hazards of synthetic chemicals has augmented the use of agricultural biological in cereals and grains.
Key Takeaways of the Market:
According to Coherent Market Insights study, North America accounted for the largest market share in terms of revenue and volume in the global agricultural biological market in 2016. The North American market was valued at US$ 2.08 in billion in 2016 in terms of revenue with a market share of above 34%, and is expected to reach US$ 6.82 billion, with a CAGR of 14.1%. The developed agricultural sector coupled with increasing adoption of agricultural biological systems are the major factor propelling the market growth. Moreover, the stringent government regulation relating to the use of synthetic pesticides and fertilizers are further surging the market demand for agricultural biological.
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Browse 500 market data tables* and 90 figures* on "Agricultural Biologicals Market” - Global forecast to 2025.
Asia Pacific is the fastest growing market for agricultural biological and is expected to show the same trend during the forecast period. The growing population has augmented the need for agricultural products, which in turn is boosting the growth of agricultural biological market. Moreover, the presence of some of the major agrarian economy coupled with government subsidies for encouragement of the use of agricultural biological are further boosting the growth of market.
The major players are adopting various strategies for market growth. For instance, in 2016, Syngenta AG, one of the leading players in the U.S., made an investment of US$ 1.3 billion in research and development and launched 16 new crop protection products. The major players operating in the global agricultural biological market includes Syngenta AG, The Dow Chemical Company, Bayer CropScience Company, BASF SE, Isagro Company, Novozymes A/S, Marrone Bio Innovation Inc., Valent BioSciences Corporation, and Koppert Biological Systems.
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