(I-BusinessNews.Com, May 19, 2020 ) The report “Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Formulation, and Region – Forecast to 2025”, published by MarketsandMarkets™. The global agricultural microbials market is estimated to be valued at USD 5.3 billion in 2019. It is projected to reach a value of USD 11.6 billion by 2025, growing at a CAGR of 14.1% during the forecast period. Factors include the rise in adoption of integrated pest management (IPM) practices across the globe, reduced development cost for microbials in comparison with conventional chemical pesticides, target specificity associated with microbial pesticides, and the rising trend of adopting organic farming practices.
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The bacteria segment is projected to be the largest segment in the agricultural microbials market during the forecast period.
The bacteria segment is projected to account for the largest market share, with USD 8.7 billion by 2025. There are around 1,408,525 strains of bacteria successfully registered, and they are the largest class of microorganism strains that have been registered and used for various industrial purposes. Bacterial strains have been most successfully isolated and used for cultivation purposes compared to all the other microorganisms, and form 43.5% of all the microorganisms strains registered globally. The application of bacteria in agriculture has increased in terms of biofertilizers and biopesticides, as these sustainably provide higher and healthy yields. Their benefits in achieving a holistic plant growth in cultivation increase their usage in the market.
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121 – Tables
53 – Figures
210 – Pages
The foliar segment is estimated to account for the largest share in 2019.
Foliar mode of application is widely used to apply microbials. It is mostly used for many fruit, vegetable, and flower crops. Microbials can be foliar applied as liquid or suspensions to crops. Soluble suspensions of microbials are useful in foliar spray and are lower in cost as compared to synthetic fertilizers. During flowering in spring, when soil moisture and temperature are not favorable for root growth, foliar spray is advantageous to meet the internal demand of micronutrients in the plants.
By function, the crop protection segment is projected to grow at the highest rate in the agricultural microbials market during the forecast period.
By function, the crop protection segment is projected to witness higher growth, at a CAGR of 15.98%, by 2025. The microbial pest control provides a significant amount of target specificity and ecological safety and hence can be applied uniquely or in combination with other pest management programs. Thus, the growers increasingly find application of the products in this segment, so their market seems to grow rapidly.
By crop type, the fruits and vegetables segment is projected to be the fastest-growing segment in the agricultural microbials market during the forecast period.
The fruits & vegetables segment is projected to account for the largest market share of USD 1.3 billion by 2025. The rapidly shifting focus on the consumption of fruits and vegetables in the population to achieve optimum nutrition is driving the market. There has also been a rise in the production quantities of fruits and vegetables across the globe. The rising per capita incomes of the population in the developed and developing countries also drive the demand for naturally produced foods.
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The North American region is projected to account for the largest market share of the agricultural microbials market in 2025.
North America is projected to have the largest share of USD 4.0 billion in 2025. The region is experiencing high growth in organic farming practices, farm conversions from conventional to organic, and 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 agricultural microbials market expansion. Populations in this region also are becoming more concerned regarding food safety and quality; thus, the governments have to invest more so that they meet these needs of the population, which tends to increase the demand for microbial solutions in the region.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural microbials market. It includes the profiles of leading companies, such as BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), Marrone Bio Innovations (US), CHR. Hansen Holdings (Denmark), Isagro S.p.A (Italy), UPL Corporation (India), Verdesian Life Sciences LLC (US), Valent Biosciences LLC (US), Lallemand Plant Care (Canada), Agrilife Biosolutions Ltd. (India), Bioworks, Inc. (US), Novozymes (US), Koppert Biological Systems B.V (US), Wilbur-Ellis Holdings Inc. (US), and Pivot Bio (US).
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Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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