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, 2014 to 2019. The growth of the agricultural biologicals market is driven by various factors, such as the increasing demand for organic products, rising world population, reduced chemical hazards, and easier residue management. Moreover, emerging economies such as India, China, and Japan are creating huge 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 restraining 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, as compared to the other two types. Factors such as phasing out of the prevalence of highly toxic pesticides, improved awareness among farmers regarding the advantages of use of biopesticides, and the increased demand for organic farming are driving the growth of this market.
Geographically, Europe (comprising the France, Italy, and Spain) commanded the largest share of 31.1% of the global agricultural biologicals market in 2013, followed by North America. 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 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.
Complete report is available @ http://www.reportsnreports.com/reports/319510-global-biologicals-market-research-report.html .