The global agricultural biologicals market size was valued at USD 13.44 billion in 2023. The industry is expected to expand from USD 15.29 billion in 2024 to USD 44.70 billion by 2032, exhibiting a CAGR of 14.35% over the study period.

Agricultural biologicals can be employed alone or in conjunction with artificial chemicals that are resistant to pests. The industry is expected to develop because of the risks associated with using synthetic chemicals in agriculture. Biopesticides are more targeted at the pests they are intended to kill and have a less harmful effect than their synthetic counterparts.

The COVID-19 pandemic in 2020 had a negative effect on the world economy since it stopped international travel, halted activity in all industrial sectors, and only allowed enterprises that were absolutely necessary to continue operating—like food and medicine—to continue operating. Prominent corporations in the industry also reported a decline in revenue creation.

Fortune Business Insights™ provides this information in its research report, titled “Agricultural Biologicals Market, 2024-2032”.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-biologicals-market-100411

Segmentation

Surging Focus of Farmers on Developing Pest-resistant Products to Impel the Biopesticides Segment Expansion

In terms of type, the market is classified into biofertilizers, biopesticides, and biostimulants. The biopesticides segment registered the largest share in 2023. This is on the back of the growing emphasis of agriculturists and farmers on developing pest-resistant products to boost the yield of high-quality crops.

Rising Uptake of Microbials to Foster the Segment Growth

Based on source, the agricultural biologicals market is divided into biochemicals and microbial. The microbial segment witnesses a major part in the agricultural biologicals market share. The surging adoption of microbials by farmers to solve different major agricultural issues is augmenting the segment expansion.

Surging Adoption of Foliar Spray by Large Farmers to Augment the Segment Expansion

With respect to application method, the market is categorized into seed treatment, soil treatment, foliar spray, and others. The foliar spray segment captured a major share in 2023. The growing adoption of foliar spray by large and small-sized conventional and organic farmers is bolstering the segment growth.

Surging Consumer Preference for Less Processed Foods to Spur the Row Crops Segment Growth

By crop, the market is segregated into fruits & vegetables, row crops, and others. The row crops segment dominated in 2023 on account of the growing consumer preference for less organic and processed foods.

From the regional perspective, the market is classified into Europe, the Asia Pacific, North America, the Middle East & Africa, and Europe.

Report Coverage

The important variables propelling and impeding the market's growth are thoroughly analyzed in this study. It also offers thorough discussion of the major advancements in the sector, the impact of COVID-19, and the leading trends. In addition, it provides essential insights into the strategic plans that top businesses use to beat the competition.

Drivers and Restraints:

Increasing Uptake of Integrated Pest Management Practices for Sustainable Agriculture to Escalate the Market Growth