The agricultural biological market comprises organic soil amendments, micronutrients and biopesticides that provide micronutrients and improve soil quality. These products offer benefits like reduced dependence on chemicals, soil conservation, higher yields and improved plant health. They enhance soil fertility by maintaining a balance of microorganisms. The rising awareness about the harmful effects of chemical fertilizers and pesticides, along with stringent regulations regarding their usage is driving demand for agricultural biologicals.

The Global agricultural biological market is estimated to be valued at US$ 14245.71 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the agricultural biological market are Amezeus (HFS Group), Ather Energy, Bikeep, cycle works, EV Motors India Pvt. Ltd, Robert Bosch GmbH, RTL Group, Spelsberg, swiftmile, and Zoov.

The growing demand for organic and chemical-free farm produce is fueling the adoption of agricultural biologicals. Consumers are increasingly health conscious and prefer food that is grown without toxic chemicals. Organic farming leverages the soil building and plant strengthening properties of biologicals to produce safe, nutritious crops.

The manufacturers of agricultural biologicals are expanding their reach globally through strategic collaborations and mergers and acquisitions. Several companies are investing in R&D to develop new bio-products tailored for different climatic conditions and crop types. Countries in Asia Pacific and Latin America offer lucrative opportunities due to the large cultivable land and growing organic farmlands in these regions.

Market Drivers

The rising health and environmental concerns associated with long-term chemical usage is a major factor propelling the agricultural biological market. Pesticide residues in food and soil/water pollution from chemical run-offs pose risks to human and ecosystem health. Biologicals ensure soil and plant health in an eco-friendly manner without toxic pollutants. Their usage also cuts input costs for farmers by reducing dependency on imported chemical inputs.

Impact of geopolitical situation on Agricultural Biological market growth

The growth prospects of the Agricultural Biological market will face several geopolitical challenges in the forecast period from 2024-2031. The ongoing Russia-Ukraine conflict has significantly disrupted the supply chains and exports of fertilizers, pesticides and crop seeds from these regions. This will negatively impact crop production worldwide in the short term. Furthermore, rising tensions between US and China may lead to increased trade barriers and restrictions between these two countries. This can hamper the growth of American Agricultural Biological firms in Chinese markets. High inflation rates across major economies due to rising energy and commodity prices have reduced farm incomes and purchasing power of farmers. This can slow down investments in advanced biological products for agriculture. The market players must closely monitor the geopolitical scenarios and devise strategies to diversify supplies, expand operations in politically stable markets and develop cost-effective product ranges.

Region of concentrated market value for Agricultural Biological market

North America currently accounts for the largest share of the Global Agricultural Biological Market Size value estimated at around 35% in 2024. Presence of large agriculturally focused countries like United States, advanced agricultural infrastructure and high demand for innovative biological solutions from large corporate farms primarily drive the market in the region. Europe is the second largest region in terms of market value with major countries including Germany, France, UK and Spain collectively accounting for over 30% share. Large presence of leading global players, supportive regulatory environment and growing organic cultivations have boosted adoption of agricultural biological products. Asia Pacific is projected to witness fastest growth in market value during the forecast period with China and India emerging as high potential markets. Increasing crop acreage, government impetus on sustainable farming and rise of smallholder farms will propel future growth.

Fastest growing region for Agricultural Biological market

Asia Pacific region especially Southeast Asian countries like Indonesia, Vietnam and Philippines is expected to witness the fastest growth in Agricultural Biological market during 2024-2031. This can be attributed to following factors - rising population is increasing food demand rapidly; large percentage of agriculture is still conventional requiring shift to sustainable methods; favourable climatic conditions enable multiple cropping cycles boosting scope for biological products; governments actively working to enhance productivity through projects promoting biological solutions and educate farmers. Furthermore, increased trade relations and investments from leading global players are aiding technology transfers and affordable product access in the region. If conducive policy support continues, Asia Pacific could surpass other regions to become the largest Agricultural Biological market in terms of growth rate by 2031.

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