Agricultural Biologicals Market Overview | Key Player are BASF SE, Syngenta AG, Bayer AG, UPL, and Corteva Agriscience

According to a report by MarketsandMarkets, the agricultural biologicals market is expected to witness substantial growth, reaching USD 27.9 billion by 2028 from USD 14.6 billion in 2023, with a compound annual growth rate (CAGR) of 13.8% during the forecast period. This growth is driven by various factors, including stricter regulations on chemical pesticides, growing demand for safer alternatives, and the rise of integrated pest management (IPM) practices.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100393324

Market Dynamics

Driver: Stricter Regulations Driving Adoption

Governments and regulatory bodies worldwide are imposing stricter regulations on chemical pesticides due to concerns about their adverse effects on human health and the environment. This shift has led to increased demand for safer and more sustainable alternatives, thereby driving the adoption of agricultural biologicals.

Restraint: Cost Considerations

One of the challenges facing the agricultural biologicals market is the higher cost compared to chemical pesticides. Factors such as higher production costs, limited scalability, and lower market competition contribute to the relatively higher prices of biological products. However, economies of scale, advancements in production techniques, and increased competition are expected to lead to cost efficiencies in the future.

Opportunity: Rise of Integrated Pest Management (IPM)

Integrated Pest Management is gaining traction as a holistic approach that combines various pest control strategies, including biological control methods. This presents significant opportunities for agricultural biologicals, as they align with the goals of minimizing chemical inputs and promoting ecological balance.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=100393324

Challenge: Achieving Efficacy

Ensuring consistent efficacy of agricultural biologicals across different pests, crops, and environmental conditions poses a significant challenge. Factors such as temperature, humidity, and pest populations can impact the performance of biological products, requiring continuous research and development efforts to optimize their effectiveness.

Agricultural Biologicals Market Ecosystem

Key players in the agricultural biologicals market include BASF SE, Syngenta AG, Bayer AG, UPL, and Corteva Agriscience. These companies have established global sales and marketing networks and offer diverse product portfolios.

Market Trends and Government Initiatives

Strict Regulations Driving Demand

Regions like the European Union and the United States are implementing strict regulations on chemical pesticides, leading to increased adoption of agricultural biologicals.

Government Initiatives Supporting Market Growth

Government programs such as the Environmental Quality Incentives Program (EQIP) in the US and the Common Agricultural Policy (CAP) in the EU provide financial assistance and incentives for farmers to adopt sustainable agricultural practices, including the use of agricultural biologicals.

Read more: https://www.linkedin.com/pulse/agricultural-biologicals-industry-analysis-share-trends-mitali-k-xdm0c/

Regional Market Insights

North America is expected to dominate the agricultural biologicals market, driven by high awareness among farmers, established distribution networks, and the presence of key market players such as Corteva Agriscience, Pro Farm Group Inc., and Valent BioSciences LLC.

Key Market Players

BASF SE, Syngenta AG, Bayer AG, UPL, and Corteva Agriscience are among the key players in the agricultural biologicals market, focusing on increasing their presence through agreements, partnerships, acquisitions, and collaborations across regions like North America, Asia Pacific, and Europe.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/agricultural-biological-market-100393324.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.