Agricultural Biologicals Market Industry New Tech Developments and Advancements to Watch Out for 2028

According to Precision Business Insights (PBI), the latest report the global Agricultural Biologicals market is expected to be worth USD 10,923.8 million in 2022 and projected to grow at 14.8% CAGR over 2022 to 2028. The primary reasons that have contributed to a significant increase in food production are population growth and increased consumption of food & goods across globe. Strong organic farming programmes, as well as growing environmental consciousness have increased demand for agricultural biologicals in the agriculture business. Moreover, factors such as deteriorating soil health due to increased use of chemical-based crop protection technologies, decreasing production, and increased insect infestations are driving the expansion of the biologicals segment for crop protection and crop improvement.

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The Biopesticides segment is Dominating the Agricultural Biologicals Market:
The Biopesticides segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years due to supportive government and market efforts to encourage the use of efficient and environmentally friendly agri-inputs is anticipated to promote market growth in the next years. For instance, in March 2020, the Reserve Bank of India (RBI) adopted a new measure, allowing banking organizations to offer a three-month halt to crop loans and agriculture terms in exchange for a 3% reduction in crop credit interest rates up to USD 4,022.29.

North America Leads Agricultural Biologicals Market:
North America is expected to hold significant market share in the global Agricultural Biologicals market and is projected to grow at a prominent growth rate over the forecast years owing to the expansion of the market in the region can be ascribed to the constantly evolving agricultural practices in terms of farming techniques, technological adaptations, ongoing research and development, and government policies that promote sustainable farming methods. Moreover, Europe is the second-largest regional market. Europe recorded a 70% rise in organic farmlands during the past decade, with over 250,000 farms involved in organ harvesting. The largest retail markets for organic produce in Europe include Germany followed by France, Italy, and the U.K.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Agricultural Biologicals market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In May 2021, Seipasa reinforced its product catalog in Colombia with the new registrations of phytosanitary products including Pirecris and Seican. Pirecris and Seican are bioinsecticides that have a powerful shock effect for the control of pests, such as whiteflies, thrips, aphids, and Cicadellidae.

Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Biopesticides
• Biostimulants
• Biofertilizers

Based on the Application, the market is segmented into the following:
• Oilseeds & Pulses
• Fruits &Vegetables
• Cereals & Grains
• Others

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Key player's profiles in the Agricultural Biologicals market report are BASF (Germany), Syngenta (Switzerland), Bayer AG (Germany), UPL (India), Marrone Bio Innovation, Inc (US), Gowan Company (US), Vegalab SA (Switzerland), Lallemand Inc (Canada), Valent Bioscience (US), Koppert Biologicals System (Netherlands), Biovert S.L. (Spain), Trade Corporation International (Spain).

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