Press release
Agricultural Microbials Market to be Worth $27.08 Billion by 2031
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However, market expansion is restrained by factors such as the lack of education and awareness among farmers and the high production costs of agricultural microbials. Meanwhile, the rising adoption of agricultural microbials in emerging economies presents significant growth opportunities for market stakeholders. Challenges include the shorter shelf life of agricultural microbials and lengthy product registration and approval processes.
Key Players
Prominent companies in the agricultural microbials market include:
Syngenta AG (Part of China National Chemical Corporation/Chemchina) (Switzerland)
BASF SE (Germany)
Bayer AG (Germany)
Corteva, Inc. (U.S.)
UPL Limited (India)
FMC Corporation (U.S.)
Novozymes A/S (Denmark)
Nufarm Limited (Australia)
Sumitomo Chemical Co., Ltd. (Japan)
Koppert B.V. (Netherlands)
Pro Farm Group Inc. (U.S.)
Isagro S.p.A. (Italy)
BioWorks, Inc. (U.S.)
Certis USA L.L.C. (U.S.)
Biobest Group NV (Belgium)
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Market Segmentation
The agricultural microbials market is segmented by:
Microorganism Type: Bacteria, fungi, virus, and other microorganisms
Product Functionality: Soil amendments and crop protection
Formulation: Liquid and dry
Mode of Application: Foliar spray, soil treatment, seed treatment, and others
Crop Type: Cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops
Geography: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa
Segment Insights
By Microorganism Type: In 2024, the bacteria segment is expected to hold the largest market share, driven by their extensive use in biofertilizers, biopesticides, and biostimulants, as well as their role in plant growth enhancement and soil health improvement.
By Product Functionality: The crop protection segment is anticipated to account for the largest market share in 2024, primarily due to the growing need to enhance crop yield and quality, the increasing adoption of advanced agricultural practices, and rising organic farming trends. The soil amendments segment is expected to experience significant growth due to the extensive use of microbes to improve soil quality and fertility.
By Formulation: The liquid formulation segment is projected to capture the largest share of the market in 2024, attributed to its better performance and longer effective duration compared to dry formulations, along with the convenience of use without the need for pre-mixing.
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By Mode of Application: The foliar spray segment is forecasted to dominate the market in 2024, owing to its high efficiency, uniform chemical distribution, minimal wastage, and rapid nutrient uptake, which also makes it a convenient method for correcting plant diseases and deficiencies.
By Crop Type: The cereals & grains segment is set to account for the largest market share in 2024, driven by the need to increase production, minimize crop losses from pests and diseases, and the growing use of cereals and grains in animal feed, biofuels, and other products.
Regional Insights
Geographically, the agricultural microbials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is projected to achieve the highest CAGR during the forecast period, supported by factors such as rapid population growth, an increase in crop diseases, a shift towards organic farming, environmental protection laws, and a heightened need for productivity and yield.
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These insights indicate a dynamic market with significant growth potential driven by evolving agricultural practices, technological advancements, and a growing emphasis on sustainability.
*Articles: 1. https://www.linkedin.com/pulse/global-agricultural-microbials-market-emerging-vlpae/
2. https://www.linkedin.com/pulse/agricultural-microbial-market-trends-growth-uhz4e
2.
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Meticulous Market Research Inc.
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