The Asia-Pacific agricultural biologicals market was valued at USD 4.35 billion in 2023 and is anticipated to reach USD 4.62 billion in 2024 from USD 7.44 billion by 2032, growing at a CAGR of 6.15% from 2024 to 2032.
Agricultural biologicals are essential components of organic farming and are going to witness a strong increase in demand due to their eco-friendly properties. These biological products boost soil fertility as well as enhance the yield of the crop. In addition to this, these products will improve the fertility of the soil by solubilizing the insoluble phosphates, fixing atmospheric nitrogen, and thereby producing plant growth substances in the soil.
Drivers such as increasing demand for organic products, growing population, improving yield and productivity, increasing spending in R&D efforts, rapid growth in the use of these products in seed treatment, support from the government, and increasing health consciousness are propelling the growth of the market. Lack of awareness among the farmers and reluctant to change from existing practices of chemical pesticides are hindering the growth of the market.
BASF, Bayer Crop Science, Syngenta, Novozymes A/S, Isagro, Arysta Lifescience Limited, Arysta LifeScience Corporation, Valent BioScience Corporation, Marrone Bio Innovations Inc., Koppert B.V. some of the market players dominate the Asia Pacific agricultural biological market.
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