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Agricultural Microbials Market With Included Analysis of New Trends, Updates, and Forecast to 2030 | Sumitomo Chemical Co., Ltd., BASF SE

12-01-2023 12:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Agricultural Microbials Market

Agricultural Microbials Market

The Agricultural Microbials Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Agricultural microbials are microorganisms such as bacteria, fungi, or viruses that are used to enhance plant growth and reduce crop disease. They improve soil health and quality by nutrient recycling and suppression of plant pathogens.

Market Dynamics:

The agricultural microbials market is expected to witness significant growth over the forecast period, owing to rising sustainable agricultural practices. Farmers are increasingly adopting organic and eco-friendly practices to improve crop yield without compromising on soil health and environment. They are using microbial products as an alternative to chemical pesticides and fertilizers. Additionally, the market is driven by increasing awareness among farmers regarding beneficial agricultural microbials and their applications. Soil microbes enhance nutrient availability and protect crops against various fungal and bacterial diseases. They aid in efficient nutrient recycling and waste decomposition, thereby boosting organic farming globally.

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Top Key Players are Covered in this Report:

★ Sumitomo Chemical Co., Ltd.,
★ BASF SE
★ Syngenta AG
★ Bayer CropScience AG
★ Monsanto
★ Novozymes
★ Arysta LifeScience Limited.

Detailed Segmentation

Segmentation by Type

★ Bacteria
★ Protozoa
★ Fungi
★ Viruses

Segmentation by Crop Type:

★ Fruits & vegetables
★ Cereals & grains
★ Oilseeds & pulses
★ Other crop types

Segmentation by Functions:

★ Soil Amendments
★ Crop protection

Segmentation by Application

★ Foliar spray
★ Soil treatment
★ Seed treatment
★ Other modes of Application

Segmentation by Region

The global Agricultural Microbials market has five main regional segments, divided by geographic region. These regions are North America, Europe, Asia Pacific, Middle East-Africa, and Latin America.

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Market Driver 1: Increasing Acceptance and Adoption of Biopesticides and Biofertilizers

The agricultural microbials market is increasingly driven by the growing acceptance and adoption of biopesticides and biofertilizers among farmers and cultivators. With rising concerns about the negative impacts of chemical pesticides and fertilizers on soil quality, environment and human health, many farmers are shifting to more sustainable and eco-friendly microbial solutions. Biopesticides offer superior selectivity and are considered safer than chemical pesticides as they primarily affect the target pest species. Likewise, biofertilizers can enhance soil fertility and deliver nutrients to plants without adverse environmental effects. Many government policies and regulations in countries across the world now promote the use of agricultural microbial solutions over agrochemicals. Various awareness programs are also educating farmers about the multiple benefits of microbials.

Market Driver 2: Need to Address Concerns Related to Food Security and Declining Arable Land

Ensuring global food security in the face of declining per capita arable land and adverse climate changes has become a major challenge for farmers worldwide. The agricultural microbials market presents strong opportunities to address these concerns through sustainable intensification of agriculture. Microbial solutions enhance crop productivity and output on existing farmland without requirement of additional resources. They boost plant immunity, maximize nutrient utilization from soil and protect crops against biotic and abiotic stresses. This helps farmers meet rising food demands despite limited cultivable areas. Microbials also allow shifting to more multi-cropping patterns and year-round cultivation cycles on the same land. Their use supports continuous increases in agricultural production needed to support the growing human population through the coming decades.

Market Restrain: High Cost of Microbial Products Relative to Synthetic Agrochemicals

While microbial solutions offer numerous ecological and health benefits, their higher initial costs compared to ordinary chemical fertilizers and pesticides continue to restrain wider adoption among smallholder and resource-poor farmers. The process of developing effective and stable microbial formulations requires extensive research and testing, driving up product prices. Large-scale manufacturing and distribution challenges also add to the expenses. However, over the longer term, microbials prove more cost-effective due to their ability to replenish soil nutrients naturally and minimize repeat application needs. Still, upfront financial considerations play a significant role in purchasing decisions for many cultivators with limited budgets. R&D efforts to reduce production costs could help expand the microbials customer base.

Market Opportunity: Growing Organic Farming Industry and Rising Export Opportunities

The global market for organic food and produce has been expanding steadily, opening major opportunities for agricultural microbial producers. Naturally derived microbial biopesticides, biofertilizers and other soil additives are permitted and even preferred for certified organic farming practices. This is driving increased usage of microbial solutions within the organic sector. Furthermore, as many nations impose restrictions on Agrochemical imports due to environmental and safety issues, there exists considerable export potential for high-quality microbials. Countries and regions targeting to reduce dependence on synthetic inputs and build resilience against external supply chain disruptions present promising export avenues. Production of tailored microbial products aligned with diverse soil and crop needs worldwide can capture expanding share of the agricultural inputs space.

Market Trend: Advancements in Microbial Screening, Formulation and Delivery Technologies

Continuous technological progress forms an important trend supporting the future prospects of the agricultural microbials industry. Ongoing research is enabling rapid screening of diverse microbial strains and isolates for plant growth promotion, yield enhancement and pest resistance properties. Novel formulation approaches through carrier enhancement, encapsulation, etc. are delivering more effective and stable microbial products with longer shelf-life. Likewise, the development of various microbial delivery methods tailored to specific crop types (granules, seeds treatment, foliar application, etc.) is driving product adoption. Other automated screening, identification and quality testing solutions are facilitating large-scale commercialization. When combined with farm level IoT and precision agriculture tools, these technological advances will optimize use of microbial solutions tailored to field conditions for boosting farm productivity and incomes through new-age intelligent farming systems.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Agricultural Microbials market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Agricultural Microbials market economy globally?

Table of Contents with Major Points:

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2030 (USD Billion)
1.2.1. By Region, 2023-2030 (USD Billion)
1.2.2. By Type, 2023-2030 (USD Billion)
1.2.3. By Application, 2023-2030 (USD Billion)
1.2.4. By Verticles, 2023-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics
3.1. Market Impact Analysis (2023-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2023-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type
5.1. Market Snapshot
5.2. By Type, Performance - Potential Analysis
5.3. Global Agricultural Microbials Market Estimates & Forecasts by Type 2023-2030 (USD Billion)
5.4. Sub-Segment Analysis

6. Global Market, by Application
6.1. Market Snapshot
6.2. By Application, Performance - Potential Analysis
6.3. Global Agricultural Microbials Market Estimates & Forecasts by Application 2023-2030 (USD Billion)
6.4. Sub-Segment Analysis
6.4.1. Others

7. Global Market, by Verticles
7.1. Market Snapshot
7.2. By Verticles, Performance - Potential Analysis
7.3. Global Agricultural Microbials Market Estimates & Forecasts by Verticles 2023-2030 (USD Billion)
7.4. Sub-Segment Analysis

8. Global Agricultural Microbials Market, Regional Analysis
8.1. Regional Market Snapshot
8.2. North America Agricultural Microbials Market
8.3. Europe Agricultural Microbials Market Snapshot
8.4. Asia-Pacific Agricultural Microbials Market Snapshot
8.5. Latin America Agricultural Microbials Market Snapshot
8.6. Rest of The World Agricultural Microbials Market

9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key In Duration
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments

10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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