New York, US, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Agricultural Microbials Market Information by Type, Function, Application, Form, Crop Type, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 12.53 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 15.23% during the review timeframe.
Market Synopsis
Agricultural microbials are the microorganisms that have extensive in agriculture for the improvement of crop productivity as well as the quality of yield. Microbial inoculants deployed in agriculture boast of target specific functions, and are therefore perfect for use in a variety of crops. Agricultural microorganisms are naturally occurring elements like bacteria and molds that also provide nutrients including nitrogen and phosphorous to plants.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 12.53 Billion |
| CAGR | 15.23% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Function, and Form |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The surging demand for organic food among consumers |
| increasing adoption of organic farming |
Market Competitive Landscape:
The important companies in the rigid packaging market are
- BASF SE (Germany)
- Novozymes A/S (Denmark)
- Dow AgroSciences LLC (US)
- Italpollina Usa Inc. (US)
- Sumitomo Chemical Company Ltd. (Japan)
- Bayer CropScience AG (Germany)
- Certis U.S.A. LLC (US)
- Mitsubishi Shoji Foodtech Co. Ltd. (Japan)
- XiteBio Technologies Inc. (Canada)
- Novagreen Inc. (Canada)
- Nufarm Ltd. (Australia)
- Verdesian Life Sciences LLC (US)
- Syngenta AG (Switzerland)
- Koppert B.V. (Netherlands)
- Queensland Agricultural Seeds (Australia)
Market USP Covered:
Market Drivers:
Agricultural microbial market can expect significant growth in the coming years. Agricultural microbial are the microorganisms that are used extensively in the agriculture sector for enhancing crop productivity as well as the quality of the yield. Microbial inoculants boast of target specific functions, and therefore, are ideally used in a variety of crops. Agricultural microorganisms are some of the naturally found substances including bacteria and molds that also provide nutrients like nitrogen and phosphorous to plants. Microbes are present in the soil and are closely associated with plants and both combined form microbiomes. Microbes such as fungi, virus, protists and bacteria, among others help bolster the plant’s growth by elevating access to supplements
Various microbes help decomposing organic matter, recycling of agricultural material, provide nitrogen or phosphorus as nutrients and offer benefits including drought and heat tolerance as well as resistance to diseases and insects. Agricultural microbials facilitate holistic improvement of plant health and augment crop productivity via economical solutions while curbing disease outbreaks, enhancing the soil health condition, and refining the overall nutrient transportation process.
The booming worldwide population, combined with the mounting uptake of sustainable agricultural practices along with the public concerns with regard to environmental safety augment the demand for the agricultural microbial market. Rise in the urbanization ate along with the declination in arable land are compelling farmers to take up effective crop-protection techniques. Given the broader acceptance as well as recognition of the many advantages of microbial products, the market value has been rising at a stunning pace.
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Market Restraints:
Lower awareness levels, as well as less commercialization of biologicals, curb the growth rate of the agricultural microbial market. Agricultural microbials have significant application costs and because of the delayed effects of agricultural microbial inoculants in comparison with traditional chemical agrochemicals, their use is restricted. Their storage stability restricts their effective use since these have reduced on-seed survival rates. As a result, farmers generally refrain from deploying microbes.
COVID 19 Analysis
The agricultural microbials market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials that are used for developing agricultural microbials along with the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Market Segmentation
By Type
The types of agricultural microbials are protozoa, fungi, bacteria, and more. The bacteria segment, between 2020 and 2027, will clinch the top position in the worldwide market. There are nearly 1,408,525 bacteria strains that have been successfully registered. These are the biggest class of microorganism strains registered and have important use-cases in numerous industrial purposes. Bacterial strains are isolated and deployed for cultivation purposes, more than any other microorganism, forming 43.5% of the total microorganism strains that have been registered worldwide. The bacteria’s application in agriculture has risen in terms of biopesticides and biofertilizers since these sustainably offer healthier and higher yields.
By Function
With respect to function, the agricultural microbials market caters to crop protection as well as soil enhancement, and others. The crop protection segment could witness significant growth in the coming years. Microbial pest control helps offer a substantial amount of ecological safety and target specificity and is therefore used uniquely or combined with other pest management programs.
By Form
Different forms in which agricultural microbials are generally available include liquid and dry. The highest demand in the market is generated for liquid microbial while the gaseous agricultural microbial segment can attain the fastest growth rate in the coming years.
By Crop Type
The crop types on which microbials are used include fruits & vegetables, oilseeds & pulses, cereals & grains, and others.
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Regional Insights
North America will be reigning as the global leader in the agricultural microbials market, followed by Europe. Canada and the United States form the biggest markets in North America, given the vast population of renowned developers and the rising focus on sustainable agriculture. The region has a number of strict regulations that aim to protect the environment, compelling manufacturers to follow the sustainability trend and do the needful with respect to their products.
Asia Pacific should prevail as the fastest soaring market in the following years, backed by several macro-economic factors including rising availability of a variety of agricultural microbials. Another encouraging aspect can be the surging awareness among farmers about these products for use as a crop protection technique. Mounting number of players in the region in line with the availability of cheap labor would work in favor of the APAC market as well.
Europe remains a major consumer of agricultural microbials, thanks to the thriving agriculture sector, facilitated by high land availability as well as ideal weather conditions. With various agencies coming up with stringent regulations about the excessive deployment of soil protection chemicals, the adoption of organic farming practices is surging rapidly in the region. This also renders a tremendous impact on the agricultural microbials market in the region.
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