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| Agricultural Biological Market |
Agricultural biological is an ecological and organic agricultural system based on application of green and environment friendly fertilizers, stimulants and pesticides, and other ecological methods and techniques. The agricultural biological system is ecologically and economically sustainable and reduces the adverse effects on environment by minimizing the use of synthetic and chemical fertilizers.
The growing environmental concerns and stringent government rules regarding the use of synthetic products are the major factors driving growth of the global agricultural biological market. Moreover, increasing demand for bio-based agricultural products, regulatory assistance, and government subsidies on agricultural biological products is expected to surge the market demand. Furthermore, shrinking arable land and strive for higher yield and productivity, growing use of soil treatment with agricultural biological products to improve crop yield and nutrient growth further contributes to the market growth. However, low adoption rate of bio-based agricultural products and increased use of counterfeit products are a major factor hindering growth of the global agricultural biological market.
North America is the dominant region in the global agricultural biological market, followed by Europe and Asia Pacific and is expected to maintain its dominance over the forecast period (2017 - 2025). The North American market was valued at US$ 2.08 billion in 2016 and is expected to reach US$ 6.82 billion by 2025. The growing adoption rate of agricultural biological systems coupled with the developed agricultural sector are the major driving factors for the growth of market. Moreover, the strict government rules related to the use of synthetic chemicals along with the high consumer preference for clean and chemical free agricultural produce is further fuelling the market growth. The U.S and Canada are the major economies adopting agricultural biological systems in the region. According to the International Federation of Organic Agriculture Movements (IFOAM) around 3 million hectares of farmland in North America was under organic agriculture in 2015, out of which 2 million hectares was in U.S and 0.9 hectares million in Canada.
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