Adoption of Modern Agricultural Technologies in Agriculture Sector Drives Market in Europe
North America and Europe are anticipated to grow faster in the global agricultural biologicals market. Stringent regulations regarding the use of crop protection chemicals are likely to drive the market in these two regions. Furthermore, these regulations are implemented to protect the environment from hazardous effects. Other factors driving the market in Europe are improved crop quality outcomes, increasing crop productivity, and rising demand for organic materials. In addition to this, increasing adoption of modern technology for agricultural practices is expected to create revive the market’s growth in this region.
Large population base and government initiatives to promote a safe and better environment in Asia Pacific are likely to boost growth of the market. The market in this region is expected to grow in the coming years owing to rising awareness about the benefits of using agricultural biologicals.
By Mode of Application
- Foliar Spray
- Seed Treatment
- Soil Treatment
By Crop Type
- Fruits & vegetables
- Turf & ornamentals
- Other Crops
Rising Preference for Organic Food Encourages Growth in the Market
Agricultural biologicals support farmers in enhancing crop productivity by protecting them from pests and weeds. In integrated pest management (IPM), agricultural biologicals play a significant role as they help to replace synthetic chemicals with the new synthetic crop. In addition to this, seed treatment products weed and insect protection, which in turn, is expected to fuel demand for agricultural biologicals. A lead analyst at Fortune Business Insights said, “Increasing global demand for food and support from governments act as potential growth triggers in the market.” Moreover, the majority of the population is health-conscious, growing demand for organic food products is expected to stimulate the market’s growth by 2026. People have become more aware of the pesticide residue in food, compelling people to opt for organic food.
Effective residual management and rising costs of fertilizers and pesticides are likely to push growth of the market in the coming years. These factors are anticipated to help achieve improvement in the plant productivity, eventually driving the market.
Among different types of agricultural biologicals, biopesticides cover the largest share in the global agricultural biologicals market. The rise in organic farming and the development of pest resistance are some of the main factors driving this segment in the global market.
On the flip side, low shelf-life of organic products may restrict the growth of the market. Furthermore, lack of awareness about biopesticides especially in emerging nations is expected to hamper the market’s growth. This may further lead to their low adoption rates, thus posing a serious threat to the growth of the market.
Regulatory Authorities Approved Marrone’s Products for Sale in Canada
Some of the leading players functional in the global agricultural biologicals market are Bayer, Monsanto BioAg, Syngenta, BASF, Arysta Lifescience, DowDuPont, Koppert, Marrone Bio Innovations, and Valent Biosciences. Among these, companies such as Monsanto, Bayer, Syngenta, and BASF have shown more interest in developing agricultural biologicals over the past few years. With the help of collaboration, new launches, and partnership strategies, these companies maintained a well-established presence in plant nutrition and biological crop protection industry. Considering this, Marrone Bio Innovations Inc. received product approvals for two of its products in January 2019. These products will be available for sale in Canada. MBI-110 Biofungicide was approved by the Pest Management Regulatory Authority (PMRA) and Haven Sun Protectant was approved by the Canadian Food Inspection Agency (CFIA).