Agricultural Microbials Market to surge at 14.28% CAGR, rising demand for food expected to propel growth
The report is anticipated to reach USD 9,667.5 million by 2030. The market is estimated to portray a CAGR of 14.28% during the forecast period i.e. 2020-2030. As per the report, rising demand for food is likely to drive the market for agricultural microbials in the coming years.
The worldwide market of agricultural microbials is being pushed on the basis of rising pressure round the globe for increasing manufacture of food with subject to the consistently increasing global population. Other aspects such as need for eco-friendly agricultural techniques and accommodating microbe’s governing norms further leads to the market growth. Rising consumer concern towards organic yield supplements the market development. Nevertheless, one of the aspects which hinder the market growth of agricultural microbial is their shorter shelf life.
The market report on global agricultural microbials market comprises of the following in-depth analysis:
• The estimated value of the market in 2019 was USD 18,307.3 million.
• Based on microbial type, the bacteria segment emerged out as a key segment in the agricultural microbials market across the globe.
• On the basis of crop type, the fruits & vegetables segment came out to be the leading segment of the market.
• Based on function, the crop protection segment emerged to be the key segment in the market for agricultural microbials.
• Region-wise, the market in North America is witnessed to be the key market segment in the growth of the market.
• Key players are likely to focus on product innovations and expansion through union to retain their positions in developed markets.
Agricultural microbials are the key elements in the plant growth for higher production of agricultural plants. The agricultural microbials offer a complete scale of microbial solutions with enhanced crop efficiency and environmental soil condition, to substitute ingredients and reaping to maintain new crops to the agriculture, horticulture, and field management markets. Ecological agricultural programs can be created by rich, biologically active soil with appropriate microbials for the stipulation to growing the plants. The plant can combine those ingredients from the microbials in a more resourceful manner to enhance soil quality, raise plant condition, and offer a cleaner, larger output at harvest.
The global agricultural microbials market is segmented by microbial type into bacteria, fungi, virus, protozoa and others. Among these, the bacteria segment emerged as the key segment, holding a market share of xx% in 2019. The market is segmented by crop type into cereals & grains, oilseeds & pulses, fruits & vegetables and others. Among these, the fruits & vegetables segment came out to be the key segment of the market, capturing xx% of the total market share in 2019. On the basis of function, the market for agricultural microbials is segmented into soil enhancement, crop protection and others. The crop protection segment emerged as the leading segment in the market, holding xx% of the total market share in the year 2019. Region-wise, the worldwide agricultural microbials market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, the market in North America is witnessed to be the key segment, acquiring xx% of the total market share in 2019.
Key Players in the Market
Some of the key players in global agricultural microbials market are UPL Corporation, BASF, Hansen Holdings, Bayer Crop Science, Marrone Bio Inventions, Sumitomo Chemicals Company Ltd., Certis LLC, Monsanto Company, Syngenta and Corteva.
Get Valuable Insights into Agricultural Microbials Market
The new reportpresent an unbiased analysis the global agricultural microbials market that covers the historical demand data as well as forecast figures for the period i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The global agricultural microbials market is segmented by microbial type into bacteria, fungi, virus, protozoa and others. The market is divided by crop type into cereals & grains, oilseeds & pulses, fruits & vegetables and others. Based on formulation, the worldwide agricultural microbials market is divided into dry and liquid. On the basis of application, the market is categorized into soil treatment, seed treatment, post-harvest and foliar spray. Based on function, the market for agricultural microbials is divided into seed enhancement, crop protection and others. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.