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Agricultural Microbials Market Valued $10.10 Bn by 2026: CAGR 14.02% | A report by Bayer AG, Syngenta, BASF SE, DowDuPont, Certis USA LLC, Marrone Bio Innovations, Valent BioSciences LLC and others
Market Analysis:
Global agricultural microbials market is expected to rise from its initial estimated value of USD 3.54 billion in 2018 to an estimated value of USD 10.10 billion by 2026, registering a CAGR of 14.02% during the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand of organic farming practices and rising need of residue-free crop protection items.
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Key Market Competitors:
• Bayer AG
• Syngenta
• BASF SE
• DowDuPont
• Certis USA LLC
• Marrone Bio Innovations
• Valent BioSciences LLC
• Arysta LifeScience Corporation
• Koppert B.V.
• Sumitomo Chemical Co. Ltd.
• ChemChina
• Chr. Hansen Holding A/S
• LALLEMAND Inc.
• Verdesian Life Sciences
• Indigo Ag Inc.
• Precision Laboratories LLC
• GSFC
• Novozymes
• Isagro
• Monsanto Company and others
Key Developments in the Market:
• In March 2018, Syngenta entered into an agreement for acquiring Strider which is a Brazilian AgTech company. This strategy would reinforce the Syngenta’s digital agricultural vision.
• In September 2017, Ginkgo Bioworks and Bayer CropScience AG teamed up for focusing on the growth of plant microbiome by making nitrogen fertilizer available for plants.
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Market Drivers & Restraints:
• Increasing number of organic farming techniques is driving the market growth
• Target specificity related with microbial pesticides is also expected to boost the market growth
• Lower shelf life of microbes is expected to restrain the market demand
• Lower adoption rate and high application costs of microbials is also expected to hamper the market growth
Segmentation:
Type
• Bacteria
• Fungi
• Viruses
• Protozoa
Function
• Crop protection
• Soil amendment
Crop Type
• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Other crops
By Application
• Seed treatment
• Soil treatment
• Foliar spray
• Post-harvest
Formulation
• Liquid
• Dry
Geography
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
Competitive Analysis:
Global agricultural microbials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of agricultural microbials market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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