One of the upcoming trends fuelling the growth of this market is the increasing penetration of organic foods. Due to a shift in consumer preferences, the market for organic food products is growing significantly. Some of the major factors attributing to the augmented demand for organic food are the growing number of health conscious individuals, increasing concern for the environment, and government support towards the use of organic products. Moreover, major supermarket chains like Wal-Mart and Costco in the US are expanding their offerings of organic food, which is impelling the growth of the organic food industry. This will, in turn, lead to an augmented demand for agricultural biologicals and organic manures, as these are the prerequisites of organic farming.
Competitive landscape and key vendors
The global agricultural biologicals market is highly fragmented and comprises a vast number of big and mid-sized vendors. The market will experience a sizable rise in production capacity as the market competitors are embracing advanced technological methods of producing agricultural biologicals. Many competitors are adopting the strategy of developing new production plants or acquiring existing players to increase their production capacity. The market players compete on the basis of different factors including price, quality, brand, and variety.
Key vendors in this 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.
Product segmentation and analysis of the agricultural biologicals market
During 2015, the biopesticides segment dominated the market and accounted for approximately 45% of the revenue market shares. Biopesticides are better alternatives to chemical pesticides as they are derived from natural resources like bacteria and minerals. Also, they find extensive applications in agricultural practices and control the effects caused by weeds, pests, ticks, mites, slugs, and other insects on crops. The increasing demand for organic products and the ability of biopesticides to lower residue management issues are expected to propel this segment’s growth over the next four years.
Geographical segmentation and analysis of the agricultural biologicals market
- North America
In terms of geography, Europe led the global agricultural biologicals market and is projected to reach over USD 3 billion by 2020. Factors such as the rising demand for organic products, improved yield, reduced chemical hazards, increased productivity, and easier residue management will drive this market’s growth in the region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global agricultural biologicals market?
- What are the key market trends impacting the growth of the global agricultural biologicals market?
- What are the challenges to market growth?
- Who are the key vendors in the global agricultural biologicals market?
- What are the market opportunities and threats faced by the vendors in the global agricultural biologicals market?
- What are the trending factors influencing the market shares of the APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global agricultural biologicals market?