Northbrook, IL 60062 -- (SBWIRE) -- 07/20/2023 -- According to a research report by MarketsandMarkets titled "Agricultural Biologicals Market by Function, Product Type, Mode of Application, Crop Type & Region - Global Forecast to 2028," the agricultural biologicals market is expected to witness significant growth. It is projected to reach USD 27.9 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period, starting from USD 14.6 billion in 2023. The growth is driven by factors such as the increasing popularity of organic farming and government initiatives supporting sustainable agricultural practices.

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The global trend towards organic farming, driven by consumer preferences for products without synthetic inputs, is a key factor propelling the growth of the agricultural biologicals market. As organic agriculture gains traction, there is a growing demand for agricultural biologicals, including biopesticides, beneficial microorganisms, and organic fertilizers, which are essential for complying with organic standards and supporting organic farming practices. The expansion of organic farmland, as reported by FiBL and IFOAM – Organics International in 2023, is driving the demand for agricultural biologicals, as these inputs play a crucial role in organic crop production.

Among the various product types, microbials hold a significant market share during the forecast period. The increasing concern over the environmental impact of conventional agriculture has led to a higher demand for sustainable and eco-friendly farming practices. Microbials, including beneficial bacteria, fungi, and other microorganisms, offer a natural alternative by reducing the reliance on synthetic pesticides and fertilizers. As sustainability becomes a priority for consumers and regulators, the demand for microbial-based agricultural products is on the rise.

The South American region is expected to contribute significantly to market growth during the forecast period. With vast agricultural lands, there is growing awareness about the environmental impact of conventional agricultural practices. As a result, there is an increasing demand for agricultural biologicals in South America, as they offer more sustainable alternatives by reducing reliance on synthetic agrochemicals. These biological products, derived from natural substances, help improve soil health, biodiversity, and overall ecosystem sustainability. South American countries, being major exporters of agricultural commodities, are adopting agricultural biologicals to meet the stringent regulations of international markets, particularly in Europe and North America.

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Key players in the agricultural biologicals market in South America include BASF SE (Germany), Syngenta AG (Switzerland), Bayer AG (Germany), UPL (India), Corteva Agriscience (US), and others. The report provides an in-depth competitive analysis of these key players, including their company profiles, recent developments, and market strategies.

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