LONDON, July 13, 2015 /PRNewswire/ -- The global agricultural biologicals market is estimated to grow at a CAGR of 14.6% from 2014 to 2019. Although the mature markets (such as the U.S., Spain, and Italy) hold larger shares in the agricultural biologicals market, the European region is expected to grow at the fastest CAGR of 15.2% during the forecast period of 2014 to 2019. The growth of the agricultural biologicals market is driven by factors such as increasing demand for organic products, rising world population, reduced chemical hazards, and easier residue management. Moreover, emerging economies such as India and China, along with Japan, are creating growth opportunities for the agricultural biologicals market in the Asia-Pacific region. However, factors such as barriers in adoption of biologicals and lack of awareness are expected to restrain the growth of this market.
In this report, the global agricultural biologicals market has been broadly classified into three main types, namely biopesticides, biostimulants, and biofertilizers. The biopesticides market segment is estimated to grow at the fastest CAGR from 2014 to 2019. Factors such as phasing out the prevalence of highly toxic pesticides; improved awareness among the farmers about the advantages of use of biopesticides; and the increased demand for organic farming are driving the growth of this market.
Geographically, the European market (mainly comprising France, Italy, and Spain) is estimated commanded the largest share of 31.1% of the global agricultural biologicals market in 2013, followed by the North American region. The agricultural biologicals market in Europe is primarily driven by factors including increasing demand for organic products, reduced chemical hazards, easier residue management, and improved results in yield, quality, and productivity. However, barriers in the adoption of biologicals and stricter government regulations are restricting the growth of the agricultural biologicals market in this region. The Asia-Pacific region is estimated to grow at the second-fastest CAGR of 14.7% from 2014 to 2019. Factors such as large population base, rising awareness about organic farming and its advantages, and increasing efforts by government and private organizations to increase awareness are propelling the growth of the agricultural biologicals market in the Asia-Pacific region.
The global agricultural biologicals market is a competitive market with a number of market players with niche technologies. As of 2014, the global agricultural biologicals market is dominated by BASF SE (Germany), Bayer CropScience (Germany), Marrone Bio Innovations, Inc. (U.S.), and Novozymes A/S (Denmark). New product launches, partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by these market players to record significant growth in the agricultural biologicals market.
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis, market share analysis of top players, company profiles, which together comprise and discuss the basic views on the competitive landscape and the emerging and high-growth segments of the global agricultural biologicals market; the report also includes analysis of the high-growth regions and countries and their respective regulatory policies, along with government initiatives, drivers, restraints, and opportunities.
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