The agricultural biologicals market is estimated to account for USD 6.75 billion in 2017 and is projected to reach USD 12.86 billion by 2022, at a CAGR of 13.77% during the forecast period. Strong funding by the private and public sectors towards promotion of biologicals over chemical counterparts and rising application of microbial products field and vegetable crops are projected to drive the growth of the market over the next five years.
The agricultural biologicals market is projected to reach USD 12.86 Billion by 2022, at a CAGR of 13.77% from 2017. The market is driven by the growing necessity for sustainable agriculture, supportive government policies, and its reduced impact on the environment.
Key players in the agricultural biologicals market include Syngenta (Switzerland), BASF (Germany), Bayer (Germany), Monsanto BioAG (US), and DowDuPont (US). Marrone Bio Innovations (US), Arysta LifeScience (US), Isagro (Italy), Valagro (Italy), Certis USA (US), Koppert (Netherlands), Biolchim (Italy), and Valent Biosciences (US) are a few other key market players who also have a significant share in the agricultural biologicals market.
Bayer is a leading research-intensive company operating in pharmaceuticals, consumer health, crop science, animal health, and Covestro segments. Bayer CropScience is its agricultural enterprise which offers seeds, crop protection, and non-agricultural pest control products.
The crop protection/seed business offers a broad portfolio of highly effective herbicides, fungicides, insecticides, and seed treatment products that have chemical or biological modes of action. The company has worldwide sales and distribution network in over 120 countries.
In October 2016, Bayer invested USD 17.0 million for the establishment of a new capacity to enhance its position in the global biological crop protection product market.
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Syngenta is one of the active players in the market, and operates through three business segments, namely, crop protection, seeds, and lawn & garden. It offers agricultural biological products for crop protection.
The company engaged in the discovery, development, production, and marketing of various products to improve crop yield in over 90 countries across the globe through its 107 production and supply sites. In May 2016, Syngenta launched the EPIVIO brand family, a range of new biostimulants, which addresses abiotic stresses through seed treatment.
The products were marketed in Brazil for soybean and in China for corn.
BASF has been operating in the market segments of chemicals, performance products, functional materials and solutions, agricultural solutions, and oil & gas. Under these broad categories, it offers products such as intermediate chemical products, monomers, petrochemicals, dispersions & pigments, nutrition & health, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection.
The company provides agricultural biological products through its agricultural solutions unit. In September 2017, BASF expanded its business by setting up a new manufacturing facility in Saskatoon, Canada for biological inoculant production.
This expansion would help the company to provide biological inoculant solutions, globally.
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