LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global agricultural biologicals market is expected to grow at a CAGR of more than 14% during the forecast period.
This research report titled ‘Global Agricultural Biologicals Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Biological sources such as plant extracts, microbials, minerals, and biochemicals help farmers to maintain plant health, improve crop productivity, and reduce plant stress. The entire process is based on organic green manures, animal manures, residues, or other ecological (bio-control) techniques. They are mainly used as part of integrated pest management (IPM) to offer innovative synthetic crop chemistries. Furthermore, they also offer protection against pests, insects, and weeds. The afore-mentioned factors are likely to increase the market demand for agricultural biologicals in the global market.
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Technavio’s research analysts categorize the global agricultural biologicals market into the following segments by application. They are:
- Cereals and grains
- Fruits and vegetables
- Oilseeds and pulses
- Others
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The top three revenue-generating application segments of the global agricultural biologicals market are discussed below:
Cereals and grains
Crops like wheat and rice need a higher nutritional supply during their growth stages. The demand for a high nutritional value in crops helps to increase the demand for crop protection products. Farmers around the world, especially Europe, North America, and APAC, are demanding organic agricultural products. This, in turn, has escalated the demand for agricultural biologicals for the cultivation of cereals and grains.
According to Shikha Kaushik, a lead agricultural equipment research analyst from Technavio, “Cereals and grains are rich sources of carbohydrates, minerals, proteins, and vitamins. They play an important role in human diet habits. Since cereals and grains are considered staple crops globally, they have an increased demand due to an increasing global population.”
Fruits and vegetables
The application of agricultural biologicals in the fruits and vegetables segment resulted in early plant growth, improved shelf life, high yield, and low prevalence of plant disease. The use of agricultural biologicals in the cultivation of fruits and vegetables, therefore, is increasing at a significant pace.
“Agricultural biologicals were initially used in premium fruits and vegetables. The use of agricultural biologicals has been prevalent in grapes, citrus fruits, stone fruits, apples, tomatoes, and pears; among vegetables, the use of agricultural biologicals has been prevalent in broccoli, cabbage, carrots, cauliflowers, cucumbers, eggplants, and garlic,” adds Shikha.
Oilseeds and pulses
Oilseeds are the seeds of plants or vegetables that are primarily used to extract fats and oils. Oilseeds like soybean and rapeseed witnessed a rise in demand across the globe in the past 4-5 years. As soybean and cotton seeds are the largest consumed crops, other than corn, in the world, they are contributing to the growth of the global agricultural biologicals market. The continuously increasing demand for soybean and cotton seeds is driving the growth of the global agricultural biologicals market.
Oilseeds are increasingly used in animal feed and in the production of biodiesel and other renewable chemicals. The key oilseed crops cultivated globally are soybean, cottonseed, sunflower, peanut, coconut, and palm kernel.
The top vendors highlighted by Technavio’s research analysts in this report are:
- BASF
- Bayer
- Novozymes
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