Category: Business

Top Trends in the Agricultural Biologicals Market Analysis, 2028 The global agricultural biologicals market is projected to grow at a CAGR of 13.7% from an estimated value of USD 14.7 billion in 2023 to reach USD 27.9 billion by 2028. Awareness of organic food products and concerns toward environmental safety and favorable regulations are the key drivers affecting the growth of the agricultural biologicals market. The role of agricultural biological products has become an integral part of integrated pest management practices (IPM) in developed markets, wherein the biological products are used in combination with new synthetic crop chemistries. Strategic developments such as expansions, new product launches, and agreements have been adopted by the majority of key players to strengthen the market. Top Trends in the Agricultural Biologicals Market Dynamics Drivers: Growing preference for organic products The rising awareness among consumers about the increasing use of pesticides and fertilizers in farm-grown vegetables has led to an increase in the adoption of organic food products. The absence of residues of pesticides, fertilizers, growth hormones, and antibiotics has encouraged consumers to opt for organic foods. This increasing consciousness has also promoted the concept of farm-to-table among consumers. According to a report published by FiBL on "The Organic Market in Europe 2021: Current Statistics'', the retail sales of organic food products have increased significantly in European countries in recent years. Some of the largest producers of organic products between 2018 and 2019 include Denmark, Sweden, Switzerland, Austria, and Luxembourg.