ReportLinker.com on Jan. 11, 2021, released a report "Agricultural Biological Control Agents Market - A Global and Regional Study: Focus on Products, Applications, Application Method and Country-Level Analysis - Analysis and Forecast, 2019-2025" - https://www.reportlinker.com/p06003962/?utm_source=GNW
ReportLinker estimated the Global Agricultural Biological Control Agents Market will Reach $7. 43 Billion by 2025.
The report lists growth drivers:
From the company's press release, a Market Overview and Competitive Landscape:
The increasing trend of sustainable agricultural practices being followed globally, minimum residue limit of crop protection chemical released being regulated, and the regulation regarding the use of crop protection chemicals globally are supporting the growth of agricultural biological control agents market.Also, the increasing adoption of the “green crop protection” concept across the globe is also driving the demand for agricultural biological control products since these are important for managing the increasing concern over pesticide residues on food and the problem of pest resistance.
Significant lowering of maximum residue limit (MRLs) by regulators in many countries is a trend that is expected to continue. Additionally, these products are a valuable option because they provide sustainability, crop protection from microbial and harvest flexibility benefits.
Major driving factors for the agriculture biological control agents industry over the years have been the increasing trend of complying with sustainable agriculture globally, low residue levels, and supportive government regulations across countries.Key companies in the industry are rapidly including biological control products under their portfolio to cater to the meet increasing demand for food products.
Increasing instances of pest infestation on crops such as wheat, rice, corn, and sugarcane are also supporting the increasing use of biological control products in the agricultural industry.
The competitive landscape of the agriculture biological control agents market consists of different strategies undertaken by major players across the industry to gain market presence.Some of the strategies adopted by biological control agents manufacturers are new product launches, business expansions, partnerships, and collaborations.
Among all the strategies adopted, product launches have been the most prominent strategy adopted by the biological control agents manufacturers. The competitive landscape provides an organization with the edge to understand its key business strategy in the industry, its current competitors, and potential future competitors that might have made their way into the market.
The agricultural biological control agents market is poised to grow over time, compelling companies to come up with collaborative strategies to sustain in the intensely competitive market.Companies with an identical product portfolio with a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitates them to achieve their objectives faster.
This strategy has been a widely adopted strategy by the players in this market. For instance, In September 2020, AgBiome and Tropical Melhoramento e Genética (TMG), a Brazilian breeding company, collaborated to work on research and development activities.
Key players in the agricultural biological control agents market are coming up with different product launch activities in order to generate public awareness about their new and upcoming bio-based crop protection chemicals.The product development and innovation have helped these companies to compete with the competitors’ product portfolio.
This strategy has also been a widely adopted strategy by the players in this market.For instance, In May 2020, BASF launched its innovative Melyra fungicide in China.
It is the first product out of three planned new products for the Chinese market based on BASF’s fungicide Revysol.
Company press release at Yahoo! Finance: https://finance.yahoo.com/news/agricultural-biological-control-agents-market-085400924.html