Agricultural Biological Market Will Grow At Highest Pace Owing To Rising Awareness

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The agricultural biological market comprises organic and biological products such as biofertilizers, biopesticides, and other biological products that are used for sustainable crop protection and production. Biological products are gaining prominence in the agricultural industry as they are environmental friendly and impose minimum toxic impact on soils, water bodies and other beneficial organisms. Biofertilizers containing microorganisms help fix nitrogen in the soil and improve soil health and fertility. Biopesticides containing microbial pesticides, plant extracts or other biological agents are effective in controlling various insect pests, weeds, and plant diseases without causing harm to beneficial organisms and humans. The growing consumer demand for chemical residue-free food and government support for organic farming is driving increased adoption of biological products in agriculture.

The Global agricultural biological market is estimated to be valued at US$ 14245.71 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the agricultural biological market are Amezeus (HFS Group), Ather Energy, Bikeep, cycle works, EV Motors India Pvt. Ltd, Robert Bosch GmbH, RTL Group, Spelsberg, swiftmile, and Zoov. These players are focusing on developing advanced biopesticides and biofertilizers through research and development. For instance, Amezeus (HFS Group) has developed a range of biofertilizers and biopesticides for major crops.

The growing demand for chemical-free and organic food is driving increased adoption of agricultural biological products. Organic farmland is expanding globally and many farmers are shifting from chemical to biological methods of cultivation. The market for organic food witnessed a growth of over 10% annually in recent years.

Advancements in formulation technologies and strain development have improved the efficacy and performance of agricultural biological products. Companies are engaged in isolating novel microbial strains and developing efficient delivery mechanisms to increase crop yields through biological products. Digitization of agriculture is also supporting precision application of biofertilizers and biopesticides.

Market Trends

- Integrated pest management is gaining popularity as a key trend in the agricultural biological market. It involves combining biological control with other pest control methods to effectively manage pests in an environmentally sensitive way.

- Biological seed treatment is being increasingly used to protect seeds and seedlings from diseases and pests. Biofungicides and other biological agents applied as seed treatments aid early growth and establishment of crops.

Market Opportunities

- Policies and initiatives promoting sustainable agriculture through schemes such as Paramparagat Krishi Vikas Yojana in India present opportunities to scale up adoption of agricultural biologicals.

- Emerging markets in Asia Pacific and Latin America offer high growth potential owing to the expansion in area under organic cultivation in these regions. Favorable government support and increasing health concerns are fueling demand for organic-certified foods.

Impact of COVID-19 on Agricultural Biological Market

The COVID-19 pandemic has significantly impacted the growth of the Agricultural Biological Market Demand. Due to nationwide lockdowns imposed across various countries, the supply chain disruptions have affected the availability of agricultural inputs like fertilizers, seeds, pesticides etc. This has negatively impacted the farming activities and yield of various crops. The restrictions on transportation has hampered the movement of agricultural produce from farms to markets. This has led to a reduction in demand for biological and organic fertilizers and pest control products in the short term.

However, the pandemic has also increased the focus on sustainable and organic farming practices. There is a rising trend of consumers preferring organic and locally grown produce for health and safety reasons amid the crisis. Many farmers have started adopting biological agents and techniques for pest management, soil treatment and plant health care in order to reduce external inputs and ensure fewer interactions during the pandemic. The farmers are also increasingly using biocontrol agents and biopesticides as an alternative to chemical pesticides to tackle pest problems without harmful effects. The governments across regions are also promoting the use of organic and biological solutions in agriculture through various supportive policies and schemes. This is expected to drive higher demand and higher adoption rates for agricultural biological solutions in the post COVID times. Ongoing research and development of new biological products for pest control, soil health and disease management will further boost the market growth going forward.

Geographical Regions with Highest Concentration in Agricultural Biological Market

The North America region accounts for the largest share in terms of value in the global agricultural biological market. This is attributed to rising preference for organic foods and government support for sustainable farming practices in countries like United States and Canada. Large scale commercial farming along with high rates of adoption for biopesticides and biofertilizers are fueling market growth in the region.

The Asia Pacific region is poised to be the fastest growing market for agricultural biological solutions over the forecast period. This is due to increasing investments by leading manufacturers, growing application of biological products in major agriculture based economies like India and China and rising awareness about benefits of organic and residue free cultivation techniques. The rapid expansion of farmlands, favourable policies promoting biological agriculture and presence of huge customer base makes Asia Pacific a highly lucrative geographical market for agricultural biologicals.

The European region also holds significant potential for agricultural biological market owing to stringent environmental regulations regarding use of chemicals and synthetic inputs in agriculture. The growing importance of integrated pest management and soil health management is propelling the demand for biological alternatives across countries like Germany, France and Italy.

Geographical Regions with Fastest Growth in Agricultural Biological Market

The Asia Pacific region is expected to witness the fastest growth in the global agricultural biological market during the forecast period. This is attributed to factors like rapidly growing population, rising food demand, expansion of arable land, favorable government initiatives for sustainable agriculture and entry of key market players focusing on technological innovations and product developments for the region.

Countries like India, China, Indonesia, Thailand and Vietnam offer huge market opportunities owing to their large scale farming activities and higher priority on enhancing farm yields, crop protection and productivity. The shift from chemical to biological solutions for pest and disease control, large infestations damaging key crops and increasing environmental regulations will further augment the demand from Asia Pacific agricultural biological market in the coming years. The growth percentage is projected to be higher than other geographical regions like Americas, Europe and Middle East & Africa during the forecast timeline.

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