The main drivers propelling expansion of the worldwide agricultural biological market are the escalating environmental concerns and strict regulatory regulations regulating the usage of synthetic products. Moreover, regulatory support, government subsidies for agricultural biological goods, and rising demand for bio-based agricultural products are anticipated to fuel market expansion. The use of soil treatment with agricultural biological products to boost crop yield and nutrient growth, as well as the need for higher productivity and yield due to declining arable land, all contribute to the market's expansion. The two main factors influencing market expansion are the developed agriculture sector and the rising adoption rate of agricultural biological systems. Also, the high customer preference for clean, chemical-free agricultural goods combined with rigorous government regulations pertaining to their use are further boosting the market's expansion. The region's two largest economies are those of the United States and Canada. The demand for chemical pesticide substitutes and organic manufacturing processes has increased research and development of bio-control seed treatment strategies.
Coherent Market Insights estimates that the global Agricultural Biologicals Market will grow at a CAGR of 14.3% between 2020 and 2028, from a value of US$ 9,465.4 million in 2020 to US$ 27,598.3 million in 2028.
Prominent Players in the Agricultural Biological Industry:
1. Syngenta AG
The company was established in 2000 and has its head office in Basel, Switzerland. . A provider of agricultural research and technology, Syngenta AG specialises in seeds and herbicides. In June 2020, ChemChina ceded all of its agricultural operations to the Syngenta Group, which has since expanded to encompass Adama as well as Sinochem's and Syngenta's agricultural operations.
2. BASF S.E.
The business was established in 1865 and has its main office Ludwigshafen, Germany. Chemicals, plastics, performance goods, practical solutions, agricultural solutions, and oil and gas are among the six business segments that the company engages in. BASF announced intentions to invest in the growth of its polymer dispersions manufacturing facility in Daya Bay, China, in March 2023. With R&D innovation and a commitment to a sustainable lifestyle, BASF produced healthy beauty in February 2023.
3. Dow Chemical Company
The company was established in 1897 and is based in Midland, Michigan, United States. The business produces plastic materials, rubber, agro-science, and speciality chemicals. Worldwide, Dow Chemical provides services to the packaging, construction, food, and personal care industries. Dow Unveils New FINGERPRINTTM Grade for the Microirrigation Industry in March 2023. Dow increased its selection of silicone-based products for solar assembly in March 2023.
4. Novozymes A/S
The business was established in 2000 with its headquarters in Bagsværd, Denmark. The company's primary areas of interest are industrial enzymes, microorganisms, and components for biopharmaceutical products. The company declared in June 2020 that it will pay $90 million to buy Ireland-based PrecisionBiotics. Novozymes said in December of that year that it would pay $125 million to purchase Microbiome Laboratories.
5. Marrone Bio Innovation Inc.
The business was established in 2006 and is based in Davis, California, United States. A company called Marrone Bio Innovations creates organic pesticides for the control of weeds, pests, and plant diseases.
The business is a leader in creating efficient, secure integrated pest management (IPM) solutions for water systems, specialty crops, and row crops.
6. Valent BioSciences Corporation,
The business was established in 1999 and is located in Libertyville, Illinois, United States. The business offers research, commercialization, and business development services for goods in the agricultural, public health, forestry, and household markets. Valent BioSciences inaugurated its latest biostimulant operating unit in October 2022. In February 2022, Valent BioSciences developed a new biostimulant operating unit to help parent company Sumitomo Chemical achieve carbon neutrality by the year 2050.
7. Koppert Biological Systems
The business was established in 1967 and has its main office in South Holland, Netherlands. The business manufactures agricultural products and develops environmentally friendly methods for growing both ornamental and food plants. The business is the market leader in professional agriculture for natural pollination and biological crop protection.
*Definition: Agricultural biological is an ecological and organic agricultural system based on the use of eco-friendly fertilisers, stimulants, insecticides, and other ecological approaches and procedures.
