Global Agricultural Biological Market - Insight
Agricultural biological is an ecological and organic agricultural system based on application of green and environment friendly fertilizers, stimulants and pesticides, and other ecological methods and techniques. The agricultural biological system is ecologically and economically sustainable and reduces the adverse effects on environment by minimizing the use of synthetic and chemical fertilizers.
The growing environmental concerns and stringent government rules regarding the use of synthetic products are the major factors driving growth of the global agricultural biological market. Moreover, increasing demand for bio-based agricultural products, regulatory assistance, and government subsidies on agricultural biological products is expected to surge the market demand. Furthermore, shrinking arable land and strive for higher yield and productivity, growing use of soil treatment with agricultural biological products to improve crop yield and nutrient growth further contributes to the market growth. However, low adoption rate of bio-based agricultural products and increased use of counterfeit products are a major factor hindering growth of the global agricultural biological market.
North America is the dominant region in the global agricultural biological market, followed by Europe and Asia Pacific and is expected to maintain its dominance over the forecast period (2017 - 2025). The North American market was valued at US$ 2.08 billion in 2016 and is expected to reach US$ 6.82 billion by 2025. The growing adoption rate of agricultural biological systems coupled with the developed agricultural sector are the major driving factors for the growth of market. Moreover, the strict government rules related to the use of synthetic chemicals along with the high consumer preference for clean and chemical free agricultural produce is further fuelling the market growth. The U.S and Canada are the major economies adopting agricultural biological systems in the region. According to the International Federation of Organic Agriculture Movements (IFOAM) around 3 million hectares of farmland in North America was under organic agriculture in 2015, out of which 2 million hectares was in U.S and 0.9 hectares million in Canada.
Europe is the second largest region in the global agricultural biological market and is expected to show the same trend over the forecast period (2017 - 2025). The European American market was valued at US$ 1.62 billion in 2016 and is expected to reach US$ 5.36 billion by 2025. The increasing adoption rate, owing to the strict government regulations relating to conservation of environment coupled with the increasing awareness of the population are the major market drivers. The major economies adopting agricultural biological techniques are Spain, Italy, and France. According to the International Federation of Organic Agriculture Movements (IFOAM) around 10.3 million hectares of farmland in Europe was under organic farming in 2014, out of which 1.7million hectares was in Spain, 1.4 million hectares in Italy, and 1.1 million hectares in France.
Asia Pacific is the fastest growing region in agricultural biologicals market and is expected to show the same trend during the forecast period. Asia Pacific market was valued at US$ 1.35 billion in 2016 and is expected to reach US$ 5.59 billion by 2025. The growing population in the region has led to the increasing demand for agricultural produce, which in turn has propelled the adoption rate of agricultural biological techniques, owing to the higher yield and enhanced nutrient and plant growth. According to the International Federation of Organic Agriculture Movements (IFOAM), around 3.6 million hectares of farmland in Asia Pacific was under organic farming in 2014, out of which 1.9 million hectares was in China and 0.7 million hectares in India.
Figure 1. Global Agricultural Biological Market, 2016, by Region.
Based on Region, North America region has the largest market in 2016 and is expected to show the same trend during the forecast period. North America holds a revenue of US$ 2.08 billion and is expected to grow at a CAGR of 14.1% from 2017 - 2025.
Major Players in the Global Agricultural Biological Market
The major players operating in the global agricultural biological market includes Syngenta AG, The Dow Chemical Company, Bayer CropScience Company, BASF SE, Isagro Company, Novozymes A/S, Marrone Bio Innovation Inc., Valent BioSciences Corporation, and Koppert Biological Systems.
Agricultural Biological systems are organic techniques that are biologically sustainable and poses limited threat to the environment. These systems are characterized by their non- toxic method of action that enhances a higher yield and minimizes the adverse effect of insects and pests on the plants.
North America region is the largest market in agriculture biological and is expected to show the same trend over the forecast period with a market value of US$ 2.80 billion in 2016. The growing adoption rate in the region along with the developed agricultural technology are the major factor contributing to the growth of the agricultural biological market.
Key Features of the Study:
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