Agricultural biological market projected to grow at a CAGR of 14.5%
The global agricultural biologicals market is projected to reach USD 10.05 billion by 2020, growing at a CAGR of 14.5% from 2015 to 2020. This growth is due to a number of factors such as increasing demand for organic products, increasing global population, improved yield & productivity, and rising cost of fertilizers & pesticides.
“Biopesticides projected to be the fastest growing market from 2015 to 2020”
Biopesticides are known for improving the quality and yield of agricultural produce. Biopesticides help in controlling agricultural pests without harming the environment. The hazards caused to the environment by chemical pesticides can be reduced with the aid of biopesticides.
“Use of agricultural biologicals in cereals & grains application is expected to grow at the highest CAGR”
The cereals & grains application has the largest market as it plays a vital role in human diet. Farmers in Asia-Pacific, North American, and European regions are confronting an ascent in the demand for organic agricultural products which has encouraged the demand for agricultural biologicals in cereals and grains development. As the land used for cultivating grains & cereals in developing countries is comparatively more substantial, this segment is expected to grow at a faster rate as compared to other applications.
"Europe dominated the market and is also projected to be the fastest growing market during the forecast period”
It is because of the adoption of modern agricultural technology and organic farming. Most of the land is majorly utilized by the European population for agriculture. Therefore, agriculture becomes the main occupation in European countries, such as France, Germany, and the U.K. Increasing land degradation and rising productivity demand of high-quality crops are exerting immense pressure on the leading agricultural produce-exporting countries.
The breakdown of primary interviews on the basis of company type and region is provided below:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director Level – 25%, and Manager level – 40%
- By Region: North America – 20%, Europe – 30%, Asia-Pacific – 40%, Latin America – 5%, and RoW – 5%
Leading players such as Syngenta (Switzerland), The Dow Chemical Company (U.S.), Bayer Cropscience AG (Germany), BASF SE (Germany), Isagro Spa (Italy), and Novozymes A/S (Denmark) have been profiled in the report. Other players include T. Stanes & Company Ltd (India), Marrone Bio Innovation Inc (U.S.), Arysta LifeScience Ltd (Japan), and Certis USA LLC (U.S.)
Reasons to buy this report:
- To get a comprehensive overview of the global agricultural biologicals market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted
- To gain insights into the major countries/regions in which the agricultural biologicals market is flourishing