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Biostimulants are Positioned to Experience the Fastest Growth
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The North American agricultural biologicals market has witnessed double-digit growth from 2012 to 2016 and will observe only slower growth from 2017 to 2022. Consisting of the biofertilizer, biostimulant, and biopesticide market segments, key growth factors driving the agricultural biologicals market include increasing environmental awareness and the desire among food consumers and retailers for crops that use minimal synthetic crop chemicals.Market growth is restrained by consumer skepticism of product efficacy claims, limited and low product awareness among growers, the price sensitivity of said growers, and a decrease in addressable farm acreage in North America.Biostimulants and biofungicides are expected to witness double-digit growth in the future, compared to the other segments. Technological innovations by manufactures have included the growing use of microbial-derived ingredients and the increasing inclusion of agricultural biologicals in the form of seed inoculants and bundle packaging.This study provides a detailed insight into the North American agricultural biologicals market by discussing drivers and restraints; the competitive landscape; and key market, company, and technology trends.
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