Increasing adoption of advanced agricultural practices is expected to drive the growth of global agricultural microbials market
According to TechSci Research report, “Global Agricultural Microbials Market By Type (Straight v/s Complex), By Origin (Organic, Synthetic, Bio-fertilizer), By Form (Solid v/s Liquid), By Mode of Application (Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, Others), By Crop Type (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Other), By Region, Forecast & Opportunities, 2025”, the global agricultural microbials market is expected to grow at a formidable rate during the forecast period on account of the growing need to maintain food safety and security to fulfil the needs of the growing global population. Additionally, increasing cases of pest attacks, locust attacks, among others have led to the widespread destruction of the crops. Furthermore, these days insects and pests have also developed resistance towards the pesticides used for their control. This in turn has increased the demand for agricultural microbials, which can be used to protect the crop, while maintaining the soil health & fertility without causing any harm to the environment. Besides, agricultural microbials help in preventing loss of nutrients such as nitrogen, phosphorous, potassium, sulphur and other micro and macro nutrients, thereby help to maintain soil fertility. Also, they are highly stable, ecofriendly and target specific. These factors are further expected to fuel the market growth through 2025. Furthermore, strict government policies and schemes pertaining to the use of chemical pesticides and fertilizers with governments imposing ban on few of them is further expected to create lucrative opportunities for the market growth over the next few years. However, lack of awareness pertaining to the use of agricultural microbials, especially in the emerging countries might hamper the market growth through 2025. Also, these agricultural microbials have short shelf life and need to be protected from various environmental conditions such as temperature, climatic changes, among others. This in turn might further hinder the market growth over the next few years. Also, availability of cheaper alternatives in the form of chemical fertilizers and pesticides might further restrict the market growth over the next few years. Moreover, regulatory barriers might also pose a challenge to the market growth during the forecast period.
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The global agricultural microbials market is segmented based on type, function, formulation, mode of application, crop type, company and region. Based on function, the market can be split into soil amendments and crop protection. Among these, the crop protection segment is expected to dominate the market during the forecast period since the use of microbes for crop protection provides target specificity along with ecological safety. These can be used in a standalone way or in combination with other pest control techniques, hence are being extensively used in agricultural practices. Based on formulation, the market can be split into dry and liquid. Here, the solid segment is expected to grow significantly since they are easily available, inexpensive and can are also easy to store. Based on crop type, the market can be fragmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others. Out of these, the fruits & vegetables segment is expected to hold the largest market share on account of increasing health consciousness among the global population. This has drastically increased the demand and consumption of fruits & vegetables. Furthermore, rising disposable income and purchasing power of consumers globally is expected to drive the segmental growth.
BASF SE, Bayer (Monsanto) Crop Science (Joyn Bion), Corteva, Syngenta AG, Certis USA LLC, Marrone Bio Innovations, Isagro S.p.A, Verdesian Life Sciences LLC, Valent Biosciences LLC, Lallemand Plant Care, Agrilife Biosolutions Ltd., Novozymes A/S, Wilbur-Ellis Holdings Inc and others are some of the leading players operating in global agricultural microbials market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in 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.
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“North America is expected to dominate the global agricultural microbials market during the forecast period, owing to the increasing awareness among the farmers pertaining to the use of microbial solutions for crop protection and enhancing plant growth. Additionally, increasing adoption of modern farming techniques is further expected to fuel the market growth during the forecast period. Furthermore, increasing health consciousness among the population has increased the demand for organic food and is leading to the conversion of conventional agricultural lands into organic farms. This in turn is expected to create lucrative opportunities for the market growth. Also, the presence of major market players such as Bayer CropScience, BASF, Corteva, Novozymes, among others in the region is expected to fuel the market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Agricultural Microbials Market By Type (Bacterial, Fungi, Virus, Protozoa), By Function (Soil Amendments v/s Crop Protection), By Formulation (Dry v/s Liquid), By Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global agricultural microbials market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global agricultural microbials market.
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Source : TechSci Research