The global agricultural microbial market is expected to grow at a compound annual growth rate of 12.61% over the forecast period to reach a market size of US$9,087.791 million in 2026 from US$3,956.654 million in 2019.
Agricultural microbial refers to the microorganisms used in agriculture to enhance crop productivity and quality of yield. Microbial inoculants used in agriculture have target specific functions, and thus are suitable for use in various crops. They consist of microorganisms such as bacteria, fungi, and viruses that are beneficial for assisting various agricultural practices such as crop protection and soil improvement. Microbes act as an important active ingredient in various biostimulants that help improve crop yields. In recent times, they have emerged as an effective substitute for synthetic agrochemicals. Moreover, they have functional superiority that encourages crop development by complementing the soil microbiota by enhancing nutrient uptake and increasing soil fertility. The growing trend of adopting organic farming as an alternative to conventional farming practices to achieve sustainability and lower the negative impact on the environment has contributed to driving the market growth. The promising growth potential of organic agriculture practices is anticipated to complement the growth of an agricultural type of microbial. This is also expected to drive natural plant growth regulators and crop protection products in the forthcoming years. According to a 2019 Organic Survey by the National Agricultural Statistics Service, there has been a rise of 17% in the certified organic farms in the U.S. between 2016 and 2019. The strong emphasis of the government to adopt organic farming has led to increased acceptance of such microbes globally.
However, the major factors hampering the market growth and adoption of agricultural microbial are the high application cost and delayed effects of microbial inoculants as compared to conventional chemical agrochemicals. Manufacturers are witnessing several challenges in their growth due to the presence of several counterfeit products in the market and the implementation of government regulations.
The Global Agricultural Microbial Market is segmented based on Type, Crop Type, Function, Mode of Application, and Geography.
The growing need to feed an ever-growing global population, coupled with the increasing demand for sustainable agricultural practices and the concern of the general public over environmental safety is one of the leading drivers for the agricultural microbial market. An increase in urbanization and less availability of arable land are motivating farmers to adopt efficient crop-protection techniques. There has been a broader acceptance and recognition of the increasing benefits of microbial. With the amount of arable land per person declining and the expansion of population, global crop yields must increase to meet the food production needs. As a result, an increase in the demand for microbial products and agricultural production is being witnessed. Along with this, the high demand for microbial to achieve sustainable crop intensification is expected to favor market growth. This has boosted their popularity and demand as a biological source to improve production, and their incorporation in integrated farming practices is likely to narrow the yield gaps.
The use of synthetic pesticides and fertilizers has shown various detrimental effects on the environment and human health. According to the United Nations and the Food and Agriculture Organization, synthetic fertilizers account for 13% of the total agricultural greenhouse gas (GIG) emissions. There have been numerous efforts to improve agricultural management practices as synthetic fertilizers cause widespread damage to the ecology. The prominent players in the market and various government and non-government organizations support sustainable agricultural practices by providing funds and subsidies on agricultural microbial. They help mitigate the efforts and act as a valuable ingredient for enabling sustainable agriculture practices.
Besides the various benefits of agricultural microbial, it is witnessed to have relatively low adoption rates than synthetic chemicals. This is mainly due to the lack of awareness and low commercialization of biologicals. Along with this, there are considerable challenges with the utilization of microbes and their mode of application. For instance, the microbial culture used for seed treatment o impairs the convenience of sowing seeds. Furthermore, the storage-stability of microbial hinders their effective utilization as they have low on-seed survival rates. Hence, the farmers often refrain from using microbes.
April 2020 - Sumitomo Chemicals Company successfully acquired four South American subsidiaries of Nufarm Limited—in Brazil, Argentina, Chile, and Colombia, respectively—to expand its global footprint in the crop protection business in various regions around the world.
Impact of COVID – 19
The COVID – 19 pandemic is expected to have a negative effect on the growth of the Agricultural Microbial Market as due to the pandemic, supply chains around the globe were disrupted leading to an inadequate supply of microbial to farmers in need. Moreover, restrictions imposed on the movement and gathering of people led to a decline in agricultural activities, thus, reducing the demand for microbial.
Prominent/major key market players in the Global Agricultural Microbial Market include Certis USA, BASF SE, Novozymes, Sumitomo Chemical, and Bayer CropScience among others. The players in the Global Agricultural Microbial Market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Global Agricultural Microbial Market.
Agricultural Microbial Market Scope:
|Market size value in 2019||US$3,956.654 million|
|Market size value in 2026||US$9,087.791 million|
|Growth Rate||CAGR of 12.61% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Crop Type, Function, Mode of Application, Formulation, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Certis USA, BASF SE, Novozymes, Sumitomo Chemical, Bayer CropScience, Queensland Agricultural Seeds, Syngenta AG, Dow AgroSciences, Novagreen Inc., XiteBio Technologies|
|Customization scope||Free report customization with purchase.|
Frequently Asked Questions (FAQs)
Q1. What will be the agricultural microbial market size by 2026?
A1. The global agricultural microbial market is expected to reach a market size of US$9,087.791 million in 2026.
Q2. What are the growth prospects for the agricultural microbial market?
A2. The agricultural microbial market is expected to grow at a CAGR of 12.61% over the forecast period.
Q3. What is the size of the global agricultural microbial market?
A3. Agricultural Microbial market was valued at US$3,956.654 million in 2019.
Q4. What factors are anticipated to drive the agricultural microbial market growth?
A4. The growing trend of adopting organic farming as an alternative to conventional farming practices to achieve sustainability and lower the negative impact on the environment has contributed to driving the agricultural microbial market growth.
Q5. Who are the major players in the agricultural microbial market?
A5. Prominent/major key market players in the global agricultural microbial market include Certis USA, BASF SE, Novozymes, Sumitomo Chemical, and Bayer CropScience among others.