The agricultural biologicals market is estimated to be valued at USD 10,923.8 million in 2021 and is poised to grow at a significant CAGR of 14.8% over 2022-2028. Agricultural biologicals were also known as biologics for crop protection that are derived from natural sources. These products serve to protect plants from pests and becoming an increasingly important part of current farming operations. Various agricultural communities throughout the globe have used these products to build sustainable farming. The Biopesticides segment anticipated to grow at significant CAGR over the forecast years owing to biopesticide use in soil, foliage, and grassland is expanding, particularly in North American and European nations. Insect sex pheromones and fragrant plants that attract pests to traps are examples of important products in this area. Moreover, microbial pesticides contain active chemicals that inhibit a variety of pests. For instance, Bacillus Thuringiensis strains generate a protein combination to kill pests in the very effective microbial insecticide. Increasing adoption of agricultural biologicals, increasing in consumer awareness of organic food items, increasing in advancements in microbial research across the globe are a few factors driving the industry’s growth over the forecasting period.
Recent Market Developments:
In October 2021, BASF collaborated with Vipergen, a global leader in research services, to apply technology to discover new active ingredients for sustainable crop protection products more efficiently and quickly.
In October 2020, Syngenta Group announced the acquisition of Valagro, a leading biologicals company. Valagro’s well-established portfolio in biostimulants and specialty nutrients would complement both Syngenta Crop Protection’s current range of biostimulants and biocontrols, as well as its future pipeline of biological solutions.