Agricultural Biological Market is expected to reach USD 14.94 Billion by 2023 | Leading Market Players are BASF, Valent BioSciences Corporation, Dow Chemical Company, Arysta LifeScience India Limited and DuPont

Agricultural Biological Market Size and Growth Rate:
Size of the agricultural biological market was valued at USD 4.76 Billion in 2014 and is expected to reach USD 14.94 Billion by 2023, at a CAGR of 13.54% during the forecast period.

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Agricultural Biological Market Growth Drivers, Challenges, and Opportunities:
The growth of stringent registration policies in the agricultural sector and increased expenditure on R&D by biological product manufacturers are the primary drivers in the global agricultural biological market. Government has achieved certain regulations for supporting the use of bio-based goods for agriculture. This is expected to drive the market growth during the forecast period. The huge cost of chemical fertilizers and the increasing awareness associated with the adverse health hazards of chemical fertilizers are expected to further spike the growth of the global market during the forecast period. The major drivers for the market are abbreviated chemical hazards, increasing demand for organic foods, rapid growth in the use of microbial seed treatment products, and easier residue management.

Lack of awareness towards bio-based agricultural products and the low adoption rate of bio pesticides are the major restraints faced by the agricultural biological market.

Geographical Analysis of Agricultural Biological Market:
Geographically, the global agricultural biological market can be segmented into Europe, Asia Pacific, Middle East & Africa, North America, and Latin America. During 2015, Europe was an important market for agricultural biologicals. The European market is majorly driven by factors such as increased yield and productivity, improved quality outcomes, increasing demand for organic products, and the adoption of modern technology for agriculture. Europe is demanded to lead the worldwide agricultural biological market throughout the forecast period. Spain and Italy hold a significant percentage of the market in the region. The market in the Asia Pacific is likely to experience significant growth during the forecast period, due to the needs of the growing population and government initiatives to promote a better environment. The market in Latin America is also expected to expand at a rapid pace during the forecast period.

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Key players of Agricultural Biological Market:
The agricultural biologicals is a competitive market with several giant agrochemical & agricultural biological companies such as Bayer Crop Science, BASF, and Monsanto among others, which concentrate on expanding their market base in the concerned market. This is successfully achieved with the assistance of numerous market strategies adopted by these companies, which include new product developments, alliances, and acquisitions. Apart from these companies, there are biological developers such as Valent BioScience Corporation, and Marrone Bio Innovations, Inc.

Agricultural Biological Market Segmentation:
By Product Type:
• Biopesticides
• Biofertilizers
• Biostimulants

By Application:
• Cereals & grains
• Fruits & vegetables
• Oilseeds & pulses

By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa

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