Increasing adoption of biopesticides and biofertilizers to enhance the quality of the crops and plants is a significant factor driving the market for the Agricultural Microbials market.
Market Size: USD 6 Billion in 2020, Market Growth: 14.5%,
Market Trend: Increasing demand for organic food among people and rising
adoption for the organic agricultural procedure.
The global Agricultural
Microbials market is estimated to reach USD 17.48 Billion by 2028,
with a CAGR of 14.5%, according to a new report generated by Reports and Data.
Agricultural microbes are important elements essential for
plant growth and soil fertility. Bacteria, protozoa, viruses, and fungi are the
various types of Agricultural Microbials that are beneficial for plant or crop
growth.
The increasing adoption of organic farming techniques,
increasing popularity of biofertilizers and biopesticides for crop improvement,
and the desire for organic food among consumers are the significant factors
facilitating the growth of the Agricultural Microbials market. The growing
adoption of Integrated Pest Management (IPM) and the reduction in the
developmental cost of microbial products in comparison with traditional
chemical pesticides are predicted to expand the global market for Agricultural
Microbials.
The global market has been ruthlessly affected by the
COVID-19 outbreak. The demand and supply chain has been affected, and so has
the production.
Some of the key participants in the market are Bayer
CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), BASF SE
(Germany), Monsanto Company (U.S.), Corteva (U.S.), Dow AgroSciences LLC
(U.S.), Syngenta AG (Switzerland), Certis USA LLC (U.S.), and CHR. Hansen
Holdings (Denmark) Novozymes A/S (Denmark), Queensland Agricultural Seeds
(Australia), Nufarm Ltd. (Australia),
Koppert B.V. (Netherlands), Mitsubishi Shoji Foodtech Co., Ltd. (Japan),
Novagreen Inc. (Canada), XiteBio Technologies Inc. (Canada), Verdesian Life
Sciences, LLC (U.S.), and Italpollina Usa, Inc. (U.S.)
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Further key findings:
- The
widespread utilization of bacteria in preparing biopesticides,
biostimulants, and biofertilizers is increasing the demand for the
bacterial segment. They help in enhancing the growth and yield of the
plant and perform several growth-promoting functions.
- Based
on the crop type, the Vegetables and Fruits segment is predicted to
dominate the market from 2021 to 2028 due to the extensive utilization and
demand for fresh fruits and vegetables to maintain the nutritional balance
in the diet.
- Based
on the formulation, the liquid is estimated to dominate the market as they
are more convenient than the dry form. They are easy to apply and do not
require procedures such as mixing, which minimizes the chances of
contamination.
- The
cereals and grains section is accounted to hold a considerable market
share from 2021 to 2028. The microbes help in the photosynthesis process
for cereal crops like rice.
- North
America is expected to hold the largest share in the Agricultural
Microbials market due to advanced technologies used in the agricultural
industry and growing awareness regarding the benefits of microbials over
chemical fertilizers.
- The
South American region market is approximated to witness the fastest growth
as most of the farmers in this region are shifting to microbials and
organic farming.
To identify the key
trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/agricultural-microbials-market
For this study, Reports and Data has segmented the global
Agricultural Microbials market based on Type, Crop Type, Functions, Mode of
Application, Formulations, and Region:
Based On Type: (Revenue, USD billion, 2018 – 2028)
- Bacterial
- Bacillus
spp
- Rhizobium
spp
- Enterobacteriaceae
- Pasteuria
- Streptomyces
- Fungi
- Trichoderma
spp
- mycorrhizal
fungi
- Others
- Viruses
- Protozoa
Based On Crop type: (Revenue, USD billion, 2018 - 2028)
- Cereals
& grains
- Oilseeds
& pulses
- Fruits
& vegetables
- Other
crop types
- Turfs
- Ornamentals
- plantation
crops
- forages
Based On Functions: (Revenue, USD billion, 2018 - 2028)
- Soil
amendments
- Biofertilizers
- Biostimulants
- Crop
protection
- Bioinsecticides
- Biofungicides
- Bioherbicides
Based On Application: (Revenue, USD billion, 2018 - 2028)
- Foliar
spray
- Soil
treatment
- Seed
treatment
- Other
modes of application
Based On Formulation: (Revenue, USD billion, 2018 - 2028)
- Dry
- Dry
granules
- Water-dispersible
granules
- Wettable
powders
- Liquid
- Emulsifiable
concentrates
- Suspension
concentrates
- Soluble
liquid concentrates
Based On Region: (Revenue, USD billion, 2018 - 2028)
- North
America
- Europe
- Asia-Pacific
- South
America
- Middle
East And Africa
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