With the incidence of pest outbreaks on the rise, the global agricultural biologicals market is expected to grow considerably during the forecast period. Fortune Business Insights shares its findings in its report, titled “Agricultural Biologicals Market Size, Share and Global Trend by Type (Biopesticides, Biostimulants, and Biofertilizers), Source (Microbial and Biochemicals), Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), Crops, and Geography Forecast till 2026”. The report also incorporates an in-depth analysis of the probable market trends and the factors that will influence the market.
Fortune Business Insights identifies major players that hold a significant portion in the global agricultural biologicals market share. These include Valent Biosciences,
- Marrone Bio Innovations,
Legislative Support to Boost the Market in North America
Passing of laws such as the recent Pesticide Registration Improvement Extension Act of 2018 (PRIA 4) is expected to swell the global agricultural biologicals market size in North America. Similar efforts at effective regulation of biological products in the agricultural landscape is expected in Europe, which will put it close at heels with North America in terms of market share and revenue.
Innovations and Acquisitions to Intensify Competition
Investing in innovation and acquiring companies to expand presence in the global agricultural biologicals market are emerging as the key strategies being adopted by the participants. For example, in July 2019, the Dutch company, Koppert Biological Systems, acquired Argentina-based Nitrasoil to mark its entry into South America and diversify its portfolio by including inoculants in its product range. In 2018, Bayer developed Serenade ASO, a biological crop protection product that can fight bacterial and fungal crop diseases.
Rising Demand for Better Quality Farm Yields to Drive the Market
The global agricultural biologicals market growth is set for a major upsurge owing to the climbing demand for naturally-extracted productivity-enhancing products. These biologicals entail a host of economic benefits. For example, a study conducted by the Food and Agriculture Organization in Lesotho showed that conservation agriculture, wherein biologicals are a key component, has greater efficiency as high output levels are achieved with lower inputs. There was also a marked increase in agricultural yields where biologicals were employed. Thus, economic feasibility of biologicals will boost the global agricultural biologicals market revenue.