Agricultural Biologicals Market Insight | Key Players Include - Bayer, Syngenta, Monsanto BioAG, BASF, DowDuPont

The agricultural biologicals market is estimated to account for USD 6.75 billion in 2017 and is projected to reach USD 12.86 billion by 2022, at a CAGR of 13.77% during the forecast period. Strong funding by the private and public sectors towards promotion of biologicals over chemical counterparts and rising application of microbial products field and vegetable crops are projected to drive the growth of the market over the next five years.

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Corn, wheat, and rice are the major cereals treated with biological products for crop protection. These crops require high amounts of nutrition and water, and biofertilizers help to fulfill these requirements by maintaining soil fertility and providing nutrients. The economic importance of corn due to its application in various sectors and increasing demand for high-quality wheat and rice in the food industry are other reasons for the adoption of advanced crop protection technologies among end users.

The product portfolio of major companies involved in the agricultural biologicals market is more focused on biopesticides due to the higher demand for bioinsecticides and biofungicides for integrated pest management in developed countries. The increasing regulations posed by national governments to maintaining the MRLs for synthetic pesticides, and also the ban on certain pesticide classes in Europe are the major driving factors towards adoption of biopesticides in developing and developed countries. The growing market for agricultural genetics in various countries of the Americas and the declining cost of Advances in the field of genetic technology have brought about the third revolution in crop improvement and these tools can be used along with existing technologies. Growing innovation would facilitate the growth of agricultural biologicals market, especially in countries such as the China, Brazil, and South Africa.

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Asia Pacific is projected to witness the highest growth in the agricultural biologicals market during the forecast period.

There has been an ever-increasing demand for crop protection and crop nutrition products in the Asian market, in line with the growing economic growth conditions. Also, seed manufacturers such as Bayer, Monsanto, and Syngenta have been showing increasing interest in tapping this potential market, wherein the companies have been expanding their R&D centers across the Asia Pacific. Regulations on chemical usage has been restricted in agriculture industry across major countries and governments have been promoting sustainable practices in these countries. Moreover, the growth of the biotechnology industry observed in China, Japan, and India translates to the high-growth potential of the market during the forecast period.

The various contributors involved in the value chain of the agricultural biologicals market include raw material suppliers, R&D institutes, agricultural biologicals manufacturing companies as Bayer (Germany), Syngenta (Switzerland), BASF(Germany), Monsanto BioAG, (US), and DowDuPont, (US), and government bodies & regulatory associations such as the US Department of Agriculture (USDA) and the US Environmental Protection Agency (EPA).

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