MarketOverview:
The global agriculturalmicrobials market size was valued at USD 5.27billion in 2021. The market is projected to grow from USD 6.00 billion in 2022
to USD 15.71 billion by 2029, exhibiting a CAGR of 14.74% during the forecast
period.
The risingemphasis on maximizing crop yields and productivity in farming by major
companies will subsequently spur business opportunities for the agricultural
microbials market growth during the forecast period. Moreover, the growing
popularity of biopesticides, biostimulants, and biofertilizers among farmers to
achieve higher crop production results will boost the agricultural microbials
market revenue in the foreseeable future, states Fortune Business Insights in a
report, titled “Agricultural Microbials Market Size, Share & IndustryAnalysis, By Type (Bacteria, Fungi, Virus, and Others), Formulation (Dry and
Liquid), Application Method (Foliar Spray, Soil Treatment, and Seed Treatment),
Function (Soil Amendment and Crop Protection), Crop (Cereals, Oilseeds and
Pulses, and Fruits & Vegetables), and Regional Forecast, 2022 – 2029” themarket size stood at USD 3.75 billion in 2018.
TheReport Lists the Main Companies in the Agricultural Microbials Market:
- Certis USA LLC
- Marrone Bio Innovations
- ChemChina (Syngenta)
- Koppert Biological Systems
- Varsha Bioscience and Technology Pvt. Ltd.
- BASF SE
- Andermatt Biocontrol AG
- Valent BioSciences LLC
- Novozymes
- Rizobacter Argentina S.A.
REPORTCOVERAGE
The global market research report provides qualitative and quantitativeinsights into the market. It also offers a detailed analysis of the market size
and growth rate for all possible market segments. Along with this, the report
provides an elaborative analysis of the market dynamics and competitive
landscape. Various key recent industry developments, such as mergers &
acquisitions, the regulatory scenario in critical countries, and key industry
trends, are mentioned in the report.
CompetitiveLandscape:
Collaborationbetween DuPont Pioneer & Evogene to Stimulate Growth
DuPontPioneer, a global leader in advanced plant genetics for crops such as corn,
cotton, rice, pearl millets, mustard, and sunflower, has announced a multiyear
partnership with Evogene, an Israeli company specializing in agricultural
biotechnology. This collaboration aims to develop seed treatments based on
microbiomes for corn. The partnership is expected to positively impact the
agricultural microbials market by helping farmers enhance and protect their
corn yields with innovative bio-stimulant products.
OferHaviv, President and CEO of Evogene, emphasized the significance of
microbiome-based biologicals in boosting agricultural productivity. He noted
that Evogene's technology platform is instrumental in developing these new
solutions and achieving positive results. Haviv expressed excitement about
partnering with DuPont Pioneer, highlighting that this collaboration will
enhance their success and accelerate their time to market.
MarketDriver:
RisingInnovation in Microbial-based Ingredients to Enhance Market Scope
Keyplayers are investing more in research and development to create innovative
microbial-based ingredients that help farmers boost crop production. This is
expected to drive significant growth in the market in the coming years. The use
of plant growth-promoting bacteria (PGPB) to develop biopesticides and
biofertilizers has enhanced the agricultural microbials sector. Additionally,
the increasing commercialization of beneficial bacterial and fungal species
will further expand the market share of agricultural microbials in the near
future.
RegionalAnalysis:
IncreasingAwareness Among Farmers to Enable Speedy Expansion in North America
NorthAmerica generated a revenue of USD 1.48 billion in 2018 and is predicted to
expand rapidly during the forecast period owing to the growing awareness among
farmers regarding the advantages of microbial in agriculture. The regulatory
policies and framework by government organizations will favor the growth of the
market in the region. Moreover, the increased efforts by key players to improve
their distribution channels in the region will aid development in North
America. Additionally, farmland expansion for the cultivation of high-value
crops can successively create sales opportunities for the market in the US.
Asia Pacific is predicted to rise at an exponential rate due to the increasing
investment by key players in the development of biological solutions. Besides,
the rising focus towards increasing crop productivity and efficiency by farmers
will enable healthy growth in Asia Pacific.
AgriculturalMicrobials Market Future Outlook
- Growing Demand for Sustainable Practices: There is an increasing focus on sustainable agriculture. Farmers are looking for eco-friendly solutions to enhance
crop yield and soil health.
- Advancements in Technology: Innovations in microbial technologies are on the rise. These advancements
improve the effectiveness of agricultural microbials in various
environments.
- Government Support and Regulations: Many governments are promoting the use of biological products. This support can lead to increased adoption of
agricultural microbials.
- Rising Awareness Among Farmers: Farmers are becoming more aware of the benefits of using microbials. This awareness is driving demand for these
products in the market.
KEYINDUSTRY DEVELOPMENTS:
April 2022: Bayer CropScience signed an agreement with Ginkgo Bioworks wherein Ginkgo Bioworks would acquire
Bayer's West Sacramento Biologics Research & Development site and
internal discovery and lead optimization platform. This agreement is
likely to accelerate the expansion of Bayer's diversified portfolio of
high-quality microbial-based solutions for growers worldwide.
