Dublin, May 11, 2021 (GLOBE NEWSWIRE) -- The "Agricultural Microbial Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global agricultural microbial market is expected to grow at a compound annual growth rate of 12.61% over the forecast period to reach a market size of US$9,087.791 million in 2026 from US$3,956.654 million in 2019.
Agricultural microbial refers to the microorganisms used in agriculture to enhance crop productivity and quality of yield. Microbial inoculants used in agriculture have target specific functions, and thus are suitable for use in various crops. They consist of microorganisms such as bacteria, fungi, and viruses that are beneficial for assisting various agricultural practices such as crop protection and soil improvement. Microbes act as an important active ingredient in various biostimulants that help improve crop yields. In recent times, they have emerged as an effective substitute for synthetic agrochemicals. Moreover, they have functional superiority that encourages crop development by complementing the soil microbiota by enhancing nutrient uptake and increasing soil fertility.
The growing trend of adopting organic farming as an alternative to conventional farming practices to achieve sustainability and lower the negative impact on the environment has contributed to driving the market growth. The promising growth potential of organic agriculture practices is anticipated to complement the growth of the agricultural type of microbial. This is also expected to drive natural plant growth regulators and crop protection products in the forthcoming years. According to a 2019 Organic Survey by the National Agricultural Statistics Service, there has been a rise of 17% in the certified organic farms in the U.S. between 2016 and 2019. The strong emphasis of the government to adopt organic farming has led to increased acceptance of such microbial globally.
However, the major factors hampering the market growth and adoption of agricultural microbial are the high application cost and delayed effects of microbial inoculants as compared to conventional chemical agrochemicals. Manufacturers are witnessing several challenges in their growth due to the presence of several counterfeit products in the market and the implementation of government regulations.
Rising population and increasing demand for food security
The growing need to feed an ever-growing global population, coupled with the increasing demand for sustainable agricultural practices and the concern of the general public over environmental safety is one of the leading drivers for the agricultural microbial market. An increase in urbanization and less availability of arable land are motivating farmers to adopt efficient crop-protection techniques. There has been a broader acceptance and recognition of the increasing benefits of microbial. With the amount of arable land per person declining and the expansion of population, global crop yields must increase to meet the food production needs. As a result, an increase in the demand for microbial products and agricultural production is being witnessed. Along with this, the high demand for microbial to achieve sustainable crop intensification is expected to favor market growth. This has boosted their popularity and demand as a biological source to improve production, and their incorporation in integrated farming practices is likely to narrow the yield gaps.
Increasing awareness regarding the harmful effects of synthetic chemicals
The use of synthetic pesticides and fertilizers has shown various detrimental effects on the environment and human health. According to the United Nations and the Food and Agriculture Organization, synthetic fertilizers account for 13% of the total agricultural greenhouse gas (GIG) emissions. There have been numerous efforts to improve agricultural management practices as synthetic fertilizers cause widespread damage to the ecology. The prominent players in the market and various government and non-government organizations support sustainable agricultural practices by providing funds and subsidies on agricultural microbial. They help mitigate the efforts and act as a valuable ingredient for enabling sustainable agriculture practices.
Besides the various benefits of agricultural microbial, it is witnessed to have relatively low adoption rates than synthetic chemicals. This is mainly due to the lack of awareness and low commercialization of biologicals. Along with this, there are considerable challenges with the utilization of microbes and their mode of application. For instance, the microbial culture used for seed treatment o impairs the convenience of sowing seeds. Furthermore, the storage-stability of microbial hinders their effective utilization as they have low on-seed survival rates. Hence, the farmers often refrain from using microbes.
April 2020 - Sumitomo Chemicals Company successfully acquired four South American subsidiaries of Nufarm Limited - in Brazil, Argentina, Chile, and Colombia, respectively - to expand its global footprint in the crop protection business in various regions around the world.
April 2020 - Sumitomo Chemicals invested USD 30 million into a joint venture with Conagen, a US biotechnology company. Through this, the company aimed to promote its strategic business alliance with Conagen further and develop innovative high functional products and processes by way of innovative use of biologicals.
March 2020 - a new automated greenhouse facility was developed in Marana, Arizona, US, by Bayer CropScience, for providing growers with the most innovative, sustainable, and technically advanced agricultural solutions, focusing on crop protection solutions.
January 2020 - BASF SE, for its Agricultural Solutions business in Singapore, developed a multipurpose facility designed to handle six different formulation technologies and supply the company's patented crop protection products to farmers across the fast-growing Asia Pacific region.
October 2019 - Bayer CropScience launched its latest biological innovations, collectively known by the brand name, Biologicals, by Bayer at 2019 Annual Biocontrol Industry Meeting (ABIM).
Impact of COVID - 19.
The COVID - 19 pandemic is expected to hurt the growth of the agricultural microbial market as due to the pandemic, supply chains around the globe were disrupted leading to an inadequate supply of microbial to farmers in need. Moreover, restrictions imposed on the movement and gathering of people led to a decline in agricultural activities, thus, reducing the demand for microbial.
Prominent/major key market players in the global agricultural microbial market include Certis USA, BASF SE, Novozymes, Sumitomo Chemical, and Bayer CropScience among others. The players are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Global Agricultural Microbial Market.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. Global Agricultural Microbial Market Analysis, By Type
6. Global Agricultural Microbial Market Analysis, By Crop Type
6.2. Cereals and Grains
6.3. Fruits and Vegetables
6.4. Oilseeds and Pulses
7. Global Agricultural Microbial Market Analysis, By Function
7.2. Crop Protection
7.3. Soil Amendment
8. Global Agricultural Microbial Market Analysis, By Mode of Application
8.2. Soil Treatment
8.3. Seed Treatment
8.4. Foliar Spray
9. Global Agricultural Microbial Market Analysis, By Formulation
9.2. Dry Formulation
9.3. Liquid Formulation
10. Global Agricultural Microbial Market Analysis, By Geography
10.2. North America
10.2.1. North America Agricultural Microbial Market Analysis, By Type
10.2.2. North America Agricultural Microbial Market Analysis, By Crop Type
10.2.3. North America Agricultural Microbial Market Analysis, By Function
10.2.4. North America Agricultural Microbial Market Analysis, By Mode of Application
10.2.5. North America Agricultural Microbial Market Analysis, By Formulation
10.2.6. By Country
10.2.6.1. United States
10.3. South America
10.3.1. South America Agricultural Microbial Market Analysis, By Type
10.3.2. South America Agricultural Microbial Market Analysis, By Crop Type
10.3.3. South America Agricultural Microbial Market Analysis, By Function
10.3.4. South America Agricultural Microbial Market Analysis, By Mode of Application
10.3.5. South America Agricultural Microbial Market Analysis, By Formulation
10.3.6. By Country
10.4.1. Europe Agricultural Microbial Market Analysis, By Type
10.4.2. Europe Agricultural Microbial Market Analysis, By Crop Type
10.4.3. Europe Agricultural Microbial Market Analysis, By Function
10.4.4. Europe Agricultural Microbial Market Analysis, By Mode of Application
10.4.5. Europe Agricultural Microbial Market Analysis, By Formulation
10.4.6. By Country
10.4.6.2. United Kingdom
10.5. Middle East and Africa
10.5.1. Middle East and Africa Agricultural Microbial Market Analysis, By Type
10.5.2. Middle East and Africa Agricultural Microbial Market Analysis, By Crop Type
10.5.3. Middle East and Africa Agricultural Microbial Market Analysis, By Function
10.5.4. Middle East and Africa Agricultural Microbial Market Analysis, By Mode of Application
10.5.5. Middle East and Africa Agricultural Microbial Market Analysis, By Formulation
10.5.6. By Country
10.5.6.1. Saudi Arabia
10.5.6.2. South Africa
10.6. Asia Pacific
10.6.1. Asia Pacific Agricultural Microbial Market Analysis, By Type
10.6.2. Asia Pacific Agricultural Microbial Market Analysis, By Crop Type
10.6.3. Asia Pacific Agricultural Microbial Market Analysis, By Function
10.6.4. Asia Pacific Agricultural Microbial Market Analysis, By Mode of Application
10.6.5. Asia Pacific Agricultural Microbial Market Analysis, By Formulation
10.6.6. By Country
10.6.6.4. South Korea
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles.
12.1. Certis USA
12.2. BASF SE
12.4. Sumitomo Chemical
12.5. Bayer CropScience
12.6. Queensland Agricultural Seeds
12.7. Syngenta AG
12.8. Dow AgroSciences
12.9. Novagreen Inc.
12.10. XiteBio Technologies
For more information about this report visit https://www.researchandmarkets.com/r/hquj72
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