[TREND 15] Bio Crop Protection
The agrochemical industry has been experiencing a boom in the use of biological-based ingredients for biopesticides as well as the biostimulant and biofertilizer markets.
The global agricultural biologicals market is projected to grow at a CAGR of 13.7% by 2025. It is still too early to determine whether the current pandemic situation will affect such positive projections, as it will take a longer time for the full effects to be seen. However, leading agrochemical manufacturers have already made many investments in developing their biologicals portfolios.
Biological ingredients benefit from the situation because, while many chemical products need to be imported across the world, it is entirely possible for many countries to begin to develop biological inputs domestically. Ingredients such as botanical extracts, humic substances, fungi, and bacteria have the potential to be developed through some countries’ internal laboratory resources and can help develop their domestic supply. There is also an interest in the use of nanotechnology associated with biological inputs and the rise of robotics for its best application and distribution in the field.
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