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[174+ Pages Research Report] Global Agricultural Microbials Market to surpass USD 12.3 billion by 2030 from USD 8.1 billion in 2020 at a CAGR of 14.94% in the coming years, i.e., 2021-30.
Product Overview
Agricultural microbial means the microorganisms used in farming to improve crop productivity and yield quality. Agriculture's microbial inoculants have target-specific roles, making them ideal for use in a variety of crops. Agricultural microorganisms are naturally occurring organisms like moulds and bacteria that provide plants with nutrients like phosphorus and nitrogen. These microorganisms also help to boost soil structure, nutrient processing, ecological balance, and plant productivity and sustainability.
Market Highlights
Global Agricultural Microbials Market is expected to project a notable CAGR of 14.94% in 2030.
One of the driving forces for the agricultural and microbial market is the growing need to nourish an ever-increasing world population combined with increasing demand for sustainable farming practices and public concern for environmental safety. Another driver for the use of microbial products is the public's problem over environmental safety. The forces which drive microbial demand involve the need to increase crop yields per acre while promoting increasingly sustainable practices, finding biological alternatives to boost environmental production with a reduction in environmental pressure, or supplementing integrated practices.
Global Agricultural Microbials Market: Segments
Fruits & Vegetable segment to grow with the highest CAGR during 2020-30
Global Agricultural Microbials Market is segmented by Crop Type into Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables. The segment of fruits and vegetables will represent USD XXXX billion by 2030 as the largest market part. The fast-moving focus on fruit and vegetable consumption within the demography is pushing the demand towards optimal nutrition. Production volumes of fruit and vegetables around the world have also increased. In the developed and developing countries, increased per capita incomes also propel the demand for food generated naturally.
Bacteria segment to grow with the highest CAGR during 2020-30
Global Agricultural Microbials is divided by type into Bacteria, Fungi, Virus, Protozoa. Bacteria will have the largest market share in the segment, with USD XXXX billion expected by 2030. There are approximately 1.408.525 successfully registered bacteria strains and they are the biggest group of microorganism strains registered and used by different industries. In contrast to all other microorganisms, bacterial strains have been characterized and utilized for cultivation most effectively and make XX.X% percent of all globally registered microorganism strains. In agriculture, the use of biofertilizers and biopesticides in agriculture has increased because they produce higher and healthier yields sustainably.
Market Dynamics
Drivers
Need to satisfy the demand of growing demography
One of the driving forces for the agricultural and microbial market is the growing need to nourish an ever-increasing world population combined with increasing demand for sustainable farming practices and public concern for environmental safety. One of the major drivers for the use of microbial products is the public's problem over environmental safety. The forces which drive microbial demand involve the need to increase crop yields per acre while promoting increasingly sustainable practices, finding biological alternatives to boost environmental production with a reduction in environmental pressure, or supplementing integrated practices.
Key component of IPM practices
Microorganisms are becoming increasingly important as a crucial constituent of integrated pest management practices (IPM), which, due to the proliferation of IPM among farmers, in turn, has a positive effect on the growth of the agricultural microbial sector. Consumer demand for organic food and the growing use of organic farming also propel the market growth of agricultural microbials.
Restraint
High cost and counterfeit products
The high cost of use and delayed consequences of microbial inoculants in comparison to traditional chemical agrochemicals are the key factors hindering the market growth and acceptance of agricultural microbials. The presence of many counterfeit goods on the market and the introduction of government regulations are presenting manufacturers with several challenges in their development.
Global Agricultural Microbials Market: Key Players
BASF SE (Germany)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Bayer CropScience (Germany)
Sumitomo Chemicals Company Ltd. (Japan)
Monsanto Company (US)
Corteva (US)
Syngenta AG (Switzerland)
Certis USA LLC (US)
Marrone Bio Innovations (US)
CHR. Hansen Holdings (Denmark)
Isagro S.p.A (Italy)
UPL Corporation (India)
Verdesian Life Sciences LLC (US)
Other Prominent Players
Global Agricultural Microbials Market: Regions
Global Agricultural Microbials market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Agricultural Microbials in North America held the largest market share of XX.X% in the year 2020. The area is undergoing high growth in organic agriculture, agricultural conversions from traditional to organic, and research is developing new biological solutions. The increased growth of valuable crops and increased farmers' understanding of the environmental advantages of microbial solutions would provide greater scope for the global expansion of agricultural microbials.
Global Agricultural Microbials Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Agricultural Microbials Market report also contains analysis on:
Agricultural Microbials Market Segments:
By Crop Type
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
By Type
Bacteria
Fungi
Virus
Protozoa
Agricultural Microbials Market Dynamics
Agricultural Microbials Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Agricultural Microbials Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Agricultural Microbials market?
What is the Agricultural Microbials market growth?
Which segment accounted for the largest Agricultural Microbials market share?
Who are the key players in the Agricultural Microbials market?
What are the factors driving the Agricultural Microbials market?