According to the latest market research study released by Technavio, the global agricultural biologicals market is expected to grow at a CAGR of more than 14% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global agricultural biologicals market based on product type:
Global agricultural biologicals market share by application 2015
|
Cereals and grains |
28.88% |
|
Fruits and vegetables |
27.69% |
|
Oilseeds and pulses |
22.05% |
|
Others (plantation crops, forage, and turf grasses) |
21.38% |
Source: Technavio
Global agricultural biologicals market in cereals and grains
In 2015, application of agricultural biologicals in cereals and grains accounted for the largest market share of around 28%. Cereals and grains are an important part of the human diet as they are rich sources of carbohydrates, proteins, minerals, and vitamins. Since cereals and grains are staple crops across the globe, they have an increased demand due to the increasing population. Farmers of several developing regions like APAC, Central America, and South America are witnessing a huge surge in the demand for organic agricultural products.
“Corn is one of the largest consumed cereal crops globally and is used for human food consumption, chemicals, biofuels, fodder, and ornamental crops. It is the fastest growing market segment under cereals and grains and is expected to post a CAGR of more than 16% solely over the forecast period. Moreover, the crop is anticipated to account for around 41% of the segment’s revenue by 2020,” says Abhay Sinha, a lead analyst at Technavio for research on agricultural equipment.
Crops like wheat and rice require greater nutritional supply during their growth stages and help increase the demand for crop protection products. Farmers, especially in regions like Europe, North America, and APAC, are demanding organic agricultural products, which has escalated the demand for agricultural biologicals in the cultivation of cereal and grain.
Global agricultural biologicals market in fruits and vegetables
The fruits and vegetables segment occupied more than 27% of the total market revenue during 2015. Agricultural biologicals were initially used in greater value in fruits and vegetables. In the fruits category, it primarily included grapes, citrus and stone fruits, apples, tomatoes, and pears while in the vegetable segment, it comprised broccoli, cabbage, carrots, cauliflowers, cucumbers, eggplants, and garlic. The application of agricultural biologicals in the fruits and vegetables segment leads to early plant growth, better shelf life, greater production, and less prevalence of plant diseases. The application of agricultural biologicals in the cultivation of fruits and vegetables is increasing at a rapid pace, which will lead the segment to post a CAGR of around 15 % over the forecast period.
Global agricultural biologicals market in oilseeds and pulses
The oilseeds and pulses segment occupied around 22% of the total market share in 2015. Oilseeds are the seeds of plants or vegetables that are mainly used to extract fats and oils. Oilseeds like soybean and rapeseed have observed a huge demand in the recent five years. Such increasing demand is because of the considerable use of oilseeds in animal feed, and in the production of biodiesel and other renewable chemicals. The key oilseed crops cultivated worldwide are soybean, cottonseed, sunflower, peanut, coconut, and palm kernel. Soybean and cotton seeds are the largest consumed crops and are significantly contributing to the growth of this market. Their continuously increasing demand will lead the segment to post a market growth rate of around 14% during the predicted period.
The top leading vendors operating in the global agricultural biologicals market are:
- BASF SE
- Bayer CropScience AG
- Isagro SPA
- Novozymes A/S
Other prominent vendors in the market include Agrinos AS, Camson, Certis USA, Koppert B.V., Marrone Bio Innovations, T. Stanes & Company, and Valent BioSciences.
A more detailed analysis is available in the Technavio report titled, ‘Global Agricultural Biologicals Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Seed Treatment Market 2016-2020
- Agrochemicals Market in India 2016-2020
- Global Bio-herbicides Market 2015-2019
- Global Azoxystrobin Market 2016-2020
- Global AgroSciences Market 2015-2019
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