Acumen research and consulting estimates that the global agricultural microbials market is anticipated to reach market size of around US$ 12,500 Mn by 2027 and is anticipated to grow at a CAGR of around 15% in terms of revenue during the forecast period 2020 – 2027.
Agricultural microbial refers to agricultural microorganisms to improve crop productivity and yield quality. Agricultural microbial inoculants have specific functions to be used and are therefore suitable for use in different crops. Micro-organisms become an important part of integrated pest control (IPM) practices, which, due to the increasing adoption of IPM among farmers, is also having positive effects upon the growth of the agricultural microbial market..
The growing food demand plays a vital role in the growth of the global market for agricultural microbials. Agricultural microbials are useful to improve crop yield and human health. Moreover, the rapidly growing world population increases demand for food and therefore encourages regional growth. The growing focus on environmentally sustainable cultivation also means that agricultural microbials are being used more effectively. Also there is a booming demand for favorable regulatory and financial policies by many governments across the world. The shorter lifespan of microbials, on the other hand, limits the extensive use of agricultural microbials. The changing atmospheric changes enhance it even further. However, the increasing use of agricultural microbials in Asia-Pacific and Latin America emerging regions leads market players to capitalize on these regions.
The lack of awareness of the benefits of using microbials and the absence of intense marketing efforts is expected to impede market growth. The low acceptance rate of agricultural microbials in developing countries in comparison to synthetic microbials will reduce market growth. In fact, the longevity and storage stability of these micro-based crops often impede their productive usage, and the poor seed survival levels of organic products typically deter farmers from using field microbes.
The market research study on “Agricultural Microbials Market (By Type: Bacteria, Fungi, Virus, Other Types; By Function: Soil Amendment, Crop Protection; By Formulation: Dry Formulation, Liquid Formulation; By Mode of Application: Soil Treatment, Foliar Spray, Seed Treatment; By Application: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, Others) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global agricultural microbials market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global agricultural microbials market are type, function, formulation, mode of application, application and major geographic regions. The agricultural microbials market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The growth of the global market for agricultural microbials is mainly primarily driven by the increasing food demand in the U.S. and Europe. The major driver of the global market is higher demand from developing economies. North America is expected to promote global market growth in agricultural microbials in increasing prevalence of crop diseases and environmental protection laws. Due to the higher demand for food products, major development countries like China and India have created new growth opportunities. Innovative technologies and new crop yield management practices will also enhance the global market. For addition, as the importance of agriculture increases, this trend will continue. The increase in demand for organic food in North America is increasing significantly, and strict regulations for environment that foster the global market growth of agricultural microbials.
In this market, Certis USA LLC is one of the leading companies. The company is aggressively involved in research and development to grow modified and novel strains of bacteria, fungi and viruses for various cereals and horticultural products. In July 2019, for instance, AgriPhage Citrus Canker was unveiled by Certis USA LLC as an innovative new approach to the growing question of cancer in Florida. Major players included in this report are Novozymes, Dow Chemical Company, Bayer CropScience, Sumitomo Chemical Company Limited, Marrone Bio Innovations, DuPont, Koppert B.V., Certis USA LLC, BASF SE, Taxon and others.
The global agricultural microbials market is segmented as below:
Agricultural Microbials Market By Type
Agricultural Microbials Market By Function
Agricultural Microbials Market By Formulation
Agricultural Microbials Market By Mode of Application
Agricultural Microbials Market By Application
Cereals and Grains
Oilseeds and Pulses
Fruits and Vegetables
Turf and Ornamentals
Agricultural Microbials Market By Geography
Middle East & Africa
Increasing number of organic farming techniques is expected to drive the growth of the agricultural microbials market.
Lower shelf life of microbes is a major factor expected to restraint the growth of the market.
The market value of agricultural microbials is anticipated to be around US$ 12,500 Mn in 2027.
It is anticipated to grow around 15% CAGR amid the forecast period.2020-2027
The key players operating in agricultural microbials market such as Novozymes, Dow Chemical Company, Bayer CropScience, Sumitomo Chemical Company Limited, Marrone Bio Innovations, DuPont, Koppert B.V., Certis USA LLC, BASF SE, Taxon and others.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
North America held maximum share in 2019.