Agricultural Microbials Global Market Report 2022: Increasing Importance of Sustainable Food Production Globally Presents Opportunities

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Global Agricultural Microbials Market

Global Agricultural Microbials Market
Global Agricultural Microbials Market

Dublin, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The "Agricultural Microbials Market by Type, Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Formulation, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global agricultural microbials market is estimated to be valued at USD 6.4 billion in 2022. It is projected to reach USD 12.6 billion by 2027, recording a CAGR of 14.6% during the forecast period. The agricultural microbials market is projected to grow at an exponential rate due to factors such as the rise in demand for sustainable agricultural practices, favorable government regulations, an increase in demand for high-value crops, and a rise in the number of investments from key players in this market. Crop protection is the chief function that is targeted by larger companies in the agricultural microbials market. Microbials can be applied in several ways, of which foliar spray is the most widely accepted application mode across the globe. However, precision targeting and application advantages associated with seed treatment have been gaining importance in recent times for microbials across the globe. Controlled release are research institutions and key players exploring another technology to enhance integrated pest management and the sustainability of their products.

The use of biopesticides has increased consumer confidence in purchasing fruits & vegetables cultivated in a sustainable environment. The increasing pressure on farmers for the minimal use of chemical pesticides in the cultivation of fruits & vegetables has led to increased demand and encouraged the exploration of biological alternatives. Organizations such as the WHO and governments of different countries are focusing on decreasing levels of malnutrition, increasing sustainable farming practices, and attaining self-sufficiency in terms of food. This will drive the growth of the agricultural microbials market.

The North America region is estimated to record a CAGR of 15.0% during the forecast period.

In 2021, North America accounted for the largest market share, followed by Europe and the Asia Pacific, owing to the reduced dependence on chemical pesticides for crop protection in countries such as the US, Canada, Germany, and France. The agricultural microbials market in North America is growing at a CAGR of 15.0% during the forecast period, due to the rising demand in large economies, such as US, Canada, and Mexico countries. These are some of the regions that are experiencing high growth in organic farming, farm conversions from conventional to organic, and the development of newer biological solutions through research. The increasing growth of high-value crops and rising awareness among farmers about the environmental benefits of microbial solutions are expected to provide more scope for market expansion. Moreover, the ongoing R&D activities on newer microbial strains also render a scope for market growth. Government policies adopted by Asia Pacific countries toward sustainable agricultural practices and the support provided for the consumption of microbial products are the major factors driving the growth of this market.

Market Dynamics

Drivers

  • Regulatory Pressures and Harmful Effects Associated with Synthetic Plant Protection Products

  • Rise in Resistance Development in Various Pest and Insect Species Estimated to Drive the Consumption of Natural Biocontrol Protection in Agriculture

  • Rising Trend for Organically Produced Foods Amongst Consumers Driving the Demand for Biologicals

Restraints

  • Technological and Environmental Constraints for the Use of Biologicals

  • Poor Infrastructure and High Initial Investment

Opportunities

  • Advancements in Microbial Research Undertaken by Key Players Across Regions to Drive the Market Growth

  • Increasing Importance of Sustainable Food Production Globally

Challenges

  • High Preference for Agrochemicals Among Farmers Across Regions to Inhibit the Market Growth

  • Presence of Counterfeit Products in the Market Across Regions Inhibits the Market Growth

Report Attribute

Details

No. of Pages

341

Forecast Period

2022 - 2027

Estimated Market Value (USD) in 2022

$6.4 Billion

Forecasted Market Value (USD) by 2027

$12.6 Billion

Compound Annual Growth Rate

14.6%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Agricultural Biologicals Market, by Function

8 Agricultural Biologicals Market, by Product Type

9 Agricultural Biologicals Market, by Mode of Application

10 Agricultural Biologicals Market, by Crop Type

11 Agricultural Biologicals Market, by Region

12 Competitive Landscape

13 Company Profiles

14 Agricultural Biologicals Market, Customization Data

15 Adjacent & Related Markets

16 Appendix

Companies Mentioned

  • BASF SE (Germany)

  • Bayer CropScience (Germany)

  • FMC Corporation (US)

  • Syngenta AG (Switzerland)

  • UPL Ltd. (India)

  • Corteva Agriscience (US)

  • Novozymes A/S (Denmark)

  • Marrone Bio Innovations (US)

  • Chr. Hansen Holding A/S (Denmark)

  • Isagro S.p.A. (Italy)

  • Valent BioSciences (US)

  • Certis Biologicals (US)

  • BioWorks, Inc. (US)

  • Koppert Biological Systems (Netherlands)

  • Lallemand Inc. (Canada)

  • AgriLife Biosolutions Ltd. (India)

  • Wilbur-Ellis Holdings, Inc. (US)

  • Pivot Bio (US)

  • Vegalab S.A. (US)

  • IPL Biologicals (India)

  • Verdesian Lifesciences (US)

  • Biotalys (Belgium)

  • BioLogic Insecticide, Inc. (US)

  • Provivi (US)

  • Fytofend S.A. (Belgium)

For more information about this report visit https://www.researchandmarkets.com/r/81eno3

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