Market Overview: The agricultural biologicals market globally reached a value of USD 8.9 Billion in 2020, with an anticipated compound annual growth rate (CAGR) of 13.5% during the forecast period. The increasing awareness surrounding the utilization of natural or organic pest resistance products for plant protection is a key driver propelling the growth of market revenue. Agricultural biologicals, also known as bioproducts, are formulated using natural ingredients, rendering them fully biodegradable and non-toxic to both plants and consumers.

Challenges Associated with Conventional Agrochemicals: Conventional or synthetic agrochemicals are linked with various side effects, including the presence of chemical residues on plant material, posing risks to consumers and adverse environmental impacts due to issues with biodegradability. In contrast, biologicals are seen as ideal substitutes for synthetic agrochemicals, fostering significant demand for safer and more natural pest resistance products, thus contributing to the market's revenue growth.

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Characteristics of Agricultural Biologicals: Agricultural biologicals are derived from diverse microorganisms, eliminating concerns related to toxicity, hazardous chemicals, harmful residues, or adverse effects on end-products or the environment. Additionally, they may incorporate semiochemical compounds, substances utilized for intra- or inter-species communication, such as semiochemical biopesticides extensively used in managing cotton pests like 'Helicoverpa spp.' Farmers highly prefer agricultural biologicals to enhance crop protection and bolster nutrition uptake in plants.

Market Drivers: The market for agricultural biologicals encompasses bio-fertilizers, biostimulants, and biocontrol products. Bio-fertilizers, consisting of selective live microorganisms like fungi, bacteria, and algae, witness growing demand driven by the necessity for eco-friendly, cost-effective, and renewable nutrient sources for plants, alongside the need to enhance nutrient availability to crops. Moreover, biologicals play a pivotal role in improving soil fertility and ensuring long-term sustainability. Increasing awareness regarding the benefits of biopesticides and bioinsecticides, coupled with rising consciousness among farmers about the adverse effects of indiscriminate synthetic/chemical fertilizers usage, further contributes to market growth. The escalating demand for biologicals aligns with the global trend towards organic farming and reducing chemical residues in the environment. Additionally, the increasing acceptance of biopesticides in various developing countries and the growing need for healthy food to meet the demands of a burgeoning global population support steady revenue growth in the agricultural biologicals market.

Market Restraints: Despite its promising growth trajectory, the agricultural biologicals market faces challenges such as low adoption rates leading to lower penetration of biologicals and the rising threat of counterfeit products due to inadequate implementation of government regulations on fertilizer and pesticide usage. Furthermore, the limited availability of specific products tailored to each plant variety and farmers' limited knowledge about bioproduct usage are anticipated to hinder the market's growth to some extent.

Key Insights: Function Segment Outlook: Among function segments, biocontrol is poised to secure the highest revenue share in the market, driven by a diverse array of biocontrol products offered by leading players to address the rising demand for biocontrol solutions globally. Pervasive pest infestations on major crops such as rice, wheat, corn, and sugarcane bolster the revenue growth of this segment.

Product Type Segment Outlook: Microbials are anticipated to dominate other segments in terms of revenue share, fueled by factors such as the easy availability of microbial strains, increasing crop cultivation, and farmers' growing adoption rates. Microbials offer a user-friendly application without requiring specific technical expertise, thereby witnessing higher acceptance among farmers compared to other agricultural biological types.

Mode of Application Segment Outlook: The foliar spray segment is projected to exhibit the fastest revenue CAGR between 2021 and 2028, owing to its widespread preference among farmers for applying biologicals. Foliar spray's effectiveness and ease of application directly onto leaves facilitate fast nutrient absorption, particularly favored by small-scale farmers in the Asia-Pacific region due to its affordability.

Crop Type Segment Outlook: The fruits & vegetables segment is expected to command the highest revenue share in the agricultural biologicals market, driven by the growing demand for organic fruits and vegetables. Biocontrol products aid in enhancing yield, while biostimulants effectively improve crop yield, shape, and size, prolonging the shelf life of high-value crops like apples, tomatoes, mangoes, and grapes.

Regional Outlook: North America leads other regional markets, capturing the highest revenue share in the global market and is poised for steady growth supported by the robust presence of major agricultural biologicals companies in the U.S. The region's growth is fueled by the adoption of modern agricultural practices, technological advancements, research and development initiatives, and stringent government regulations promoting sustainable agriculture. In contrast, the Asia-Pacific market is anticipated to witness rapid growth between 2021 and 2028, attributed to evolving agricultural practices and high revenue contributions from agrarian countries like Thailand, South Korea, India, Japan, Indonesia, Malaysia, and the Philippines. Additionally, rising consumer preferences for natural and organic food, combined with government agricultural reforms, further drive market growth in the region.

Key Companies Profiled: Major players in the agricultural biologicals market, including Bayer (Germany), Syngenta (Switzerland), BASF SE (Germany), Marrione Bio Innovation (US), UPL (India), Isagro (Italy), Evogene (Israel), and Vegalab (US), are focusing on strategies such as mergers & acquisitions, partnerships, and agreements to expand their geographical reach. These companies possess advanced manufacturing units and robust distribution networks across various regions, facilitating market expansion. For instance, Verdesian Life Sciences announced the opening of its second facility in the U.S. in September 2019, focusing on exploring disruptive and emerging technologies to enhance plant nutrient uptake and environmental sustainability.

Report Scope: The report offers historical data and forecasts revenue growth at global, regional, and country levels, analyzing market trends in each segment and sub-segment from 2018 to 2028. Segmentation is based on function outlook, product type outlook, mode of application outlook, crop type outlook, and regional outlook. Key regions covered include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with specific country-level analyses. Key companies profiled include Bayer, Syngenta, BASF SE, Marrione Bio Innovation, UPL, Isagro, Evogene, and Vegalab. Customization options include up to 10 hours of free customization and expert consultation.

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