Agricultural Microbial Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Agricultural Microbials Market
The agricultural microbials market size was valued at USD 5.27 billion in 2021, and the market is now projected to grow from USD 6.00 billion in 2022 to USD 15.17 billion by 2029, exhibiting a CAGR of 14.74% during the forecast period of 2022-2029.
The COVID-19 pandemic created significant opportunities on the agricultural microbials market growth as curbing coronavirus outbreak was prioritized. The international outbreak of the COVID-19 pandemic delivered about numerous stressful conditions faced thru the global economic system and the agriculture region. Border closures and limited movements due to lockdown imposition brought on discrepancies inside the delivery chain. Market closures and interrupted trips have impacted the decision negatively. This additionally brought about a vast decline and postponed the transportation of agricultural commodities.
The growth of the global agricultural microbial market share proportion has been contributed to by the growing awareness regarding the usage of synthetic chemical substances. The use of artificial insecticides and fertilizers has been established to have terrible consequences for human health and the environment. Numerous efforts are undertaken to improve agricultural control practices as artificial fertilizers cause large damage to the ecology.
Furthermore, there’s been a notable trend of strong emphasis on organic agriculture practices. The growing fashion of organic farming to decrease the damaging impact on the environment and gain sustainability contributed to the marketplace boom. The increased capability of organic agriculture practices is anticipated to guide the call for agricultural microbials.
Comprehensive Analysis of Agricultural Microbials Market
The agricultural microbials market and agriculture industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the agriculture industry. These segmentations are methodically segregated by types, formulation, application method, function, and crop. The function types include, soil amendment and crop protection. However, the formulation is such as dry and liquid.
The North American region is conducive to the global agricultural microbials market, leading to a recall of USD 2.09 billion owing to increasing awareness about the environmental benefits. The vicinity promotes the utilization of microbes by way of allowing policy and regulatory frameworks. Agencies should encourage studies and development sports to gain microbial variety and provide lengthy-term availability of plant-associated microbes.
The top players in the market play a crucial role in the agriculture industry assuring industrial prospectus growth and setting market standards. These players include, Certis USA LLC (U.S.), Koppert Biological Systems (Netherlands), ChemChina (China), Marrone Bio Innovations, Inc. (U.S.), BASF SE (Germany), Varsha Bioscience and Technology Pvt. Ltd. (India), Sumitomo Chemical Co., Ltd. (Japan), Andermatt Biocontrol AG (Switzerland), Novozymes (Denmark), and Bioceres S.A. (Argentina) these market players provide a level-playing competitive landscape.
In April 2022, Bayer CropScience signed an agreement with Ginkgo Bioworks in which Ginkgo Bioworks might accumulate Bayer's West Sacramento Biologics Research & Development website online and internal discovery and lead optimization platform. This agreement is in all likelihood to boost the expansion of Bayer's diverse portfolio of fantastic microbial-based answers for growers globally.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2018-2029
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2029
Historical Period 2018-2020
Unit Value (USD Billion)
By Type Bacteria
Fungi
Virus
Others
By Formulation Dry
Liquid
By Function Soil Amendment
Crop Protection
By Application Method Foliar Spray
Soil Treatment
Seed Treatment
Others
By Crop Cereals
Oilseeds & Pulses
Fruits & Vegetables
Others
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