Northbrook, IL -- (SBWIRE) -- 12/19/2018 -- The agricultural biologicals market is projected to reach USD 14.65 billion by 2023, from USD 6.75 billion in 2017, at a CAGR of 13.80% during the forecast period. The market is driven by factors such as the growth prospects of organic food, a favorable framework for agricultural, and the impact of these pesticides in achieving sustainability of agriculture.

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Bionematicides is estimated to be most important among the top trends in the agricultural biologicals market.
Nematode infestation is a major constraint for crops produced worldwide. Chemical pesticides affect human health and have various disadvantages; hence, biological pest control measures are preferred. Biological control measures utilize the action of microbials and biochemicals on the nematode populations. Demand for bionematicides has been increasing in regions producing wheat, potato, rice, banana, and sugarcane, which normally face strong nematode infestation. Even though the bionematicides market is niche, it is characterized, at present, by low competition due to limited product differentiation and high adoption barriers.
Bioinsecticides is estimated to be the second-most important market trend in the agricultural biologicals market.

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Insects can be both beneficial and harmful to crop production. Demand for bioinsecticides has been increasing among regions producing wheat, potato, rice, strawberry, and tomato, which normally face strong insect infestation. Poor agricultural practices – such as poorly tilled soil leading to water stagnation – results in the field becoming a breeding ground for insects. The application of bioinsecticides has also increased in recent times owing to public health activities and the increasing insect menace in urban pipelines and drainage systems. The market is further driven by factors such as technology and product development of innovative bioinsecticides that can be cost effective as well as used on a broad crop portfolio. Bioinsecticide formulations are widely used in North America with the demand for bioinsecticides increasing among countries producing wheat, potato, rice, strawberry, and tomato, which normally face strong insect infestation.
Significant competition to capitalize on the market potential among international manufacturers in Europe and the Americas.

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The global agricultural biologicals market is dominated by North America and Europe, owing to the adoption of modern agricultural technologies and organic farming in these regions. Agricultural biologicals are expected to be a potential substitute for synthetic pesticides in Europe due to the growing regulations on chemical usage and maximum residue limit. The ban on the use of neonicotinoids, glyphosate, and paraquat is expected to propel the growth of the European biopesticides industry.

Asia Pacific and South America hold immense potential for growth in the biostimulants market in the next five years. These developing markets are slowly gaining attention from domestic as well as international players. Asia Pacific players such as Biostadt India Limited (India), Leili Group (China), and SOM Phytopharma India Ltd. (India) are some of the recognized players in the region.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF (Germany), Bayer CropScience (Germany), Marrone Bio Innovations (US), Monsanto BioAg (US), Valent BioSciences (US), Koppert (Netherlands), and Certis USA (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include DowDuPont (US), Syngenta (Switzerland), Stockton Group (Israel), Verdesian Life Sciences (US), and Rizobacter Argentina (Argentina).

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