The agricultural biological market was valued at US$ 5.99 Billion in 2016 and is projected to reach US$ 21.25 billion by 2025, exhibiting a CAGR of 15% during the forecast period, according to Agricultural Biological Market, by product type (Biopesticides, Biofertilizers, and Biostimulants) by Source (Microbials, Biorationals, and Others), by Mode of application (Soil Treatment, Seed Treatment, and Foliar spray) by application (Cereals and grains, oil seed and pulses, Fruits and vegetables, and Others) published by Coherent Market Insights.
Growing demand for organic products coupled with the increasing government participation in conservation of environment are the major drivers for the growth of global agricultural biological market. Moreover, high yield and enhanced growth of plants and nutrients are increasing the adoption of agricultural biological systems, which in turn is propelling the market growth.
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Browse 500 market data tables* and 90 figures* on "Agricultural Biologicals Market” - Global forecast to 2025.
Key Trends and Analysis of the Global Agricultural Biological Market:
In terms of product segmentation, Bio pesticides held a dominant position in the market in 2016 and is expected to retain its dominance during the forecast period. This is owing to increasing awareness of the hazardous effects of chemical pesticides on the environment. Moreover, increasing demand for organic food coupled with increasing cost of synthetic fertilizers is further propelling growth of the market.
In terms of mode of application, biological soil treatment held a dominant position in the market in 2016, owing to its ability to improve soil and nutrient growth. Moreover, increase in demand for high quality seeds and organic food is the major factor attributing to the growth of biological seed treatment.
In terms of application, cereals and grains held a dominant position in the market and is expected to retain its dominance during the forecast period. The use of agriculture biological products in crops such as cereals and grains is high, owing to extensive cultivation of these crops. Moreover, the increasing awareness about the hazards of synthetic chemicals on the crops has augmented the use of agricultural biological in cereals and grains.
Key Takeaways of the Market:
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