Agricultural Microbials Market to grow at a CAGR of 15.5% with market value of USD 4.73 billion by 2021

Reports And Markets Publish a New Market Research Report On –"Agricultural Microbials Market - Growth, Forecasts and Trends (2017 - 2022)"

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Market Insights

The global agricultural microbial market is expected to grow at a CAGR of 15.5% during the forecast period. The market value is expected to reach USD 4.73 billion by 2021 from an estimated USD 2.3 billion in 2015.

Many beneficial soil microbes, including bacteria and fungi, are readily used in agricultural practices, as they help in decomposing organic matter releasing nitrogen and controlling plant diseases, etc. Hence, microbes have got various applications in the agricultural sector as biofertilizers, biopesticides, bioinsecticides, biofungicides, etc. Along with controlling diseases and pests, agricultural microbials also help in plant growth by availing nutrients like nitrogen and phosphorus.

Market Dynamics

Agricultural microbials enhance the nutrient transportation process, improve soil health condition, and control disease outbreak, thus holistically enhancing the plant health. Growing concerns over yield and food security, increasing popularity of organic and eco- friendly agriculture, and rising cost of pesticides and fertilizers are identified as some of the major factors for market growth. However, low adoption and lack of awareness about the product application and usability, have been constraining the market growth in many parts of the world. Evolving markets in the developing regions of Asia-Pacific and Latin America would provide a further growth opportunity for the agricultural microbial market.

Market Segmentation

The global agricultural microbials market has been segmented by the microbe type, crop application, mode of application, formulation, function, and by geography. The microbe type segment is explained on the basis of bacteria, fungi, virus, and protozoa; the usage of bacteria is the highest and is expected to grow substantially in the agriculture sector. Bacterial microbes are further segmented into Bacillus thuringiensis, Rhizobium, Bacillus subtilis, and others.

Major fungi species appointed in agriculture are Trichoderma Spp. and Mycorrhiza. By formulation, the market is divided into dry and liquid formulations; by function, the market is segmented into soil amendment and crop protection and by mode of application, market is divided into soil treatment, foliar spray and seed treatment. By application, the market consists four crop types- cereals & grains, oilseeds, fruits & vegetables, and others. Application of microbes in fruit and vegetable crops accounts for the majority of the market share.

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North America is the largest market for agricultural microbials, with about 35% of the global share, which is expected to grow at a CAGR of 15.3%. Europe is the second largest market for microbials and is expected to grow at a CAGR of 15.8%. The Asia-Pacific region, led by countries like India and China, is expected to witness the fastest-growth in terms of demand. In South America, Brazil is projected to grow rapidly in order to lessen the dependence on agrochemicals.

Major companies in the sector include:

Arysta Lifescience Limited

BASF SE

Bayer Crop Science

Dow Chemical Company

Novozymes

Syngenta Ag

Recent Industry Insights

Industry leaders are shifting towards strategies such as mergers and acquisitions, along collaborations, to explore the microbial technologies that can be used in the field of agriculture. One such example is Monsanto acquiring the agricultural company Agradis Incorporated, to explore the use of microbials in agriculture. Monsanto also entered into a strategic alliance with Novozymes to form the BioAg Alliance.

This alliance works towards using the microbial technologies to enhance the agricultural productivity while ensuring environmental safety. In the year 2015, they had tested more than 2000 microbes on 5, 00,000 test field plots in various US locations and they plan to increase the number of field plots in the coming years. The BioAg Alliance is one of the biggest microbial field test programs in the world, to assess the potential microbes in agriculture.

Key Deliverables in the Study

Market analysis for the global agricultural microbials market with competition analysis.

Market overview and identification and analysis of the macro and micro factors that affect this market.

Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.

The report holds importance for the following stakeholders-

Producers and manufacturers

Agricultural input companies

Enterprises operating in the industry

Traders and stakeholders operating in the sector

Investors/research institutions interested in the market

Customization Options:

Supply chain analysis

Regulatory framework

Trade analysis

Trend analysis

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