Agricultural Biologicals Market to exceed USD 25.2 billion in 2030, at a CAGR of 9.4%

The Agricultural Biologicals Market was valued at USD 14.7 billion in 2023-e and projected to grow at a CAGR of 9.4% through 2030 to reach USD 25.2 billion.

Agricultural biologicals are becoming more and more popular as governments and regulatory agencies are becoming more aware of the possible dangers linked to synthetic plant protection products. Stricter laws are being put in place to lessen the use and effects of synthetic chemical products to reduce these concerns. The agriculture sector has undergone a substantial transition as a result of this regulatory change with a growing need for safer and more environmentally friendly substitutes for traditional chemical pesticides.

Biostimulants Propel Growth in Agricultural Biologicals Market

The biostimulants segment is expanding rapidly and has completely changed the way scientists and farmers approach food production and sustainability. This market is expected to grow due to several factors, including the growing need to improve crop yield and quality, the expansion of organic farming, and the resulting demand for organic food. In July 2022, the new Fertilizing Products Regulation (FPR) (Regulation (EU) 2019/1009) was introduced in Europe by the European Commission. Better control and oversight are now guaranteed by this regulation and has strengthened the European regulatory framework for biostimulants.

Semiochemicals are Anticipated to Grow at a Significant Pace

The expansion of semiochemicals is linked to growing government policy support and the adoption of sustainable farming methods. To transmit a particular chemical message that helps alter physiology or behavior, insects use semiochemicals. Businesses in the semiochemicals sector will likely merge and consolidate as the biological pest control industry continues to consolidate overall. To supply fruit & vegetable growers worldwide with semiochemicals-based biological crop protection products, Bayer and the French company M2i Group announced their collaboration in January 2023.

Source: Intent Market Research Analysis

Fruits & Vegetables Category is Fueling the Agricultural Biologicals Market Growth

Fruits & vegetables are expected to grow significantly, depending on the type of crop. Fruits & vegetables are consumed unprocessed therefore consumers have higher expectations for the farming practices of these crops. Consumer concerns about pesticide residue in these crops are usually far higher than in row crops that aren't eaten raw. As a result, grocery store chains and food marketers face increased pressure to compete based on efficiently controlling pesticide residues. Growers therefore look for products such as agricultural biologicals that can be used without adding to the worries about pesticide residue.

Agricultural Biologicals Market is Highly Competitive with the Presence of a Large Number of Global and Regional Players RFGF

The key companies in the agricultural biologicals market are actively expanding their portfolios. The market is highly competitive with the presence of a large number of global and regional players present in the market. The key players in the market are AMVAC, Andermatt, BASF, Bayer, Certis, Corteva, Chr. Hansen, FBSciences, Koppert, Lallemand, MBI, Novozymes, Stoller, Syngenta, UPL, Vegalab, Valent, and Verdisian.