Asia-Pacific Agricultural Biologicals Market was worth USD 3.92 billion in 2021 and is projected to grow at a CAGR of 6.15%, to reach USD 5.55 billion by 2027.
Agricultural biologicals are an essential components of an organic farming and are going to witness a strong increase in demand due to its eco-friendly properties. These biological products boost soil fertility as well as enhancing the yield of the crop. In addition to this, these products will improve the fertility of 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 number of population, improving yield and productivity, increasing spending’s 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.
Major Key Players
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