Biologicals Market in 2024: Now Entering the Third Stage
March 20, 2024 Having covered various industries over the past 40 years, I’ve seen a familiar pattern emerge when it comes to newer segments of the business. Overall, there are three distinct stages each tends to go through at times throughout their history. And based upon the evidence, the biologicals category is about to enter the third stage.
For some perspective, let’s review the stages. The first is rapid expansion. As a category becomes “hot” in the eyes of the industry, many start-ups and early adopters rush to begin taking advantage of all the positive “buzz” surrounding the category. For biologicals, this first stage happened better than a decade ago as numerous “new” companies jumped into the field.
The second stage occurs when older, established companies start to get involved – either through introducing their own products into the field and/or outright acquiring some of the better-known start-ups. For biologicals, this happened at the beginning of the 2020s largely, as traditional suppliers to the agricultural industry such as FMC Corp. and Mosaic launched their own divisions devoted to biologicals.
Now the third stage is upon the biologicals market. This one has players within the field looking to strengthen their market position. This is accomplished through such options as company consolidation, formal partnerships with like-minded entities, or purchasing assets from other market players. A recent example of this took place in mid-March, when Certis Biologicals acquired two fungicides – Howler and Theia – from AgBiome.
“Howler and Theia complement our existing portfolio of biofungicides,” said Chris Judd, Vice President, North America, Certis Biologicals, announcing the acquisition. “These products will constitute a fungicide portfolio that can provide unmatched control for all growers, from specialty and high-value crops to large-acre commodity crops.”
Loading ...Biologicals market watchers can probably expect more such third stage moves from other companies in this category throughout the rest of 2024.
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