The global agricultural microbial market was valued at US$2.849 billion in 2017 and is expected to grow at a CAGR of 13.60% to reach a market size of US$5.390 billion by the year 2022. Microbes live in the soil and have close association with plants and together they form microbiomel. Microbes include bacteria, fungi, virus, and protists among others. They can boost growth of the plant as by improving access to supplements. Many microbes are beneficial such as they can help in decomposition of organic matter, recycling of old agricultural material, offer phosphorus or nitrogen as nutrients and provide benefits such as heat and drought tolerance along with resistance to insects and plant diseases.
Market Outlook
The global market of microbes is being driven on account of increasing pressure across the globe for rising production of food owing to the constantly growing global population. Other factors such as requirement of environment friendly farming practices and supportive microbe’s regulatory policies further contributes to the market growth. Growing consumer interest in organic product coupled with rising consumer interest in organic products augments the market growth. However, one of the factors which restrain the market growth of agricultural microbial is their shorter shelf life.
Geographic Outlook
Geographically, North America will contribute significantly to the global growth of agricultural microbial on account of increasing demand of organic food and stringent regulations. Similarly, growing demand for food in countries like China and India, due to large population base, increases the production of tropical and sub-tropical vegetables and fruits which further stimulate the agriculture microbial demand in the region.
Research Methodology
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Market Dynamics
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Agricultural Microbial. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Segmentation
Thirdly, Agricultural Microbial Market has been segmented on the basis of type, crop type, function, application and geography as follows:
By Type
Bacteria
Protozoa
Viruses
Fungi
By Crop Type
Cereals & Grains
Fruits & Vegetables
Oilseeds & Pulses
Other
By Function
Crop Protection
Soil Amendment
By Application
Soil Treatment
Seed Treatment
Foliar Spray
By Geography
Americas
North America
South America
Europe Middle East and Africa
Europe
Middle East and Africa
Asia Pacific
Market Players
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Certis USA LLC, BASF SE, Monsanto Company, Sumitomo Chemical Co., Ltd, Novozymes, Bayer Crop Science, and ChemChina.
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