Agricultural Microbials Market Size, Share & Trends Analysis Report By Product (Bacteria, Fungi), By Formulation (Liquid, Dry), By Application (Foliar, Soil), By Crop Type (Cereals & Grains, Oilseeds & Pulses), By Region, And Segment Forecasts, 2023 - 203

Agricultural Microbials Market Size, Share & Trends Analysis Report By Product (Bacteria, Fungi), By Formulation (Liquid, Dry), By Application (Foliar, Soil), By Crop Type (Cereals & Grains, Oilseeds & Pulses), By Region, And Segment Forecasts, 2023 - 2030

Agricultural Microbials Market Growth & Trends

The global agricultural microbials market size is expected to reach USD 19.12 billion by 2030, growing at a CAGR of 14.2%, according to a new study by Grand View Research, Inc. Agricultural microbials deal with plant-associated microbes and plant and animal diseases. These products increasingly find applications as bio-pesticides, bio-fertilizers, and bio-stimulants, which provide a comprehensive approach to sustainable plant health. In conventional farming, they can be combined with other chemical supplements the growers use.

Rapid changes in climate conditions have led to the prevalence and occurrence of plant pests and diseases. Continual fluctuations in climate play a significant role in crop production and susceptibility to pests. Climate change increases crops' vulnerability to different diseases and pests, negatively impacting the overall crop yield. Hence, climate change leads to deviations in farming practices and results in declined crop productivity. These factors have heightened the dependability of farmers on distinguished crop protection products for effective pest prevention, thereby propelling the market demand in the coming years. The growing consumer preference for organic food products, residue levels in food, gradual phase-out of vital active ingredients, pest resurgence, resistance, and increased need for agricultural sustainability are projected to positively influence the market growth over the forecast period.

The use of agricultural microbial products has increased worldwide, especially in Europe and North America. North America domestically consumes more than half of the world's produced bio-pesticides. The overuse of synthetic fertilizers has led to the degradation of soil qualities across the region. The biological fixation of nitrogen is an environment-friendly and inexpensive alternative to chemical fertilizers in crops. In addition, bio-fertilizers are widely used for crops such as rice, millets, pulses, sugarcane, cotton, and other horticulture crops within the region. Thus, the high specificity of microbial insecticides and fungicides toward pests and fungi drives the growth of agricultural microbials.

Agricultural Microbials Market Report Highlights

• North America witnesses the fastest growth rate, driven by increasing awareness among farmers about the environmental benefits of such microbials and the rising adoption of organic farming practices
• Based on product, the bacteria segment has witnessed the fastest growth rate, with a CAGR of 2.7%. It is attributed to its comprehensive utilization in bio-pesticides, bio-fertilizers, and bio-stimulants
• The dry formulation segment is gaining significant traction among farmers on account of ease of storage, longer shelf life, and transportation. It is widely used in seed treatment and is effective where moisture from spraying may cause damage and requires similar application equipment
• Based on crop type, oilseeds & pulses have turned toward microbials for higher yield and sustainability. It aids in increasing crop survival in drought and nutrient limitation-like conditions. Oilseeds & pulses support effective nutrient uptake, seed yield, modulation, and plant growth

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