Global Agricultural Microbials Market

The global agricultural microbial market is expected to grow at a CAGR of 15.5% during 2015-2020 forecast period. The market value is expected to reach $ 4.73 billion by 2020 from an estimated $ 2.3 billion in 2015. Microbes or microorganisms are small, microscopic creatures that live in soil, water, food, animal intestines and other different environments.

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 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.

Agricultural microbials enhance the nutrient transportation process, improve soil health condition, control disease outbreak and so help in enhancing holistic plant health. Growing concern 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 market growth in many parts of the world. Evolving market in the developing regions of Asia-Pacific and Latin America would provide further growth opportunity in agricultural microbial demand.

The global agricultural microbials market has been segmented on the basis of microbe type, application and by geography. The type segment is explained on the basis of bacteria, fungi, virus and protozoa; the usage of bacteria is highest and is expected to grow substantially in 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 application, the market consists four crop types- Cereals & Grains, Oilseeds, Fruits & Vegetables and Others. Application of microbes in fruits and vegetables crops accounts for the majority of market share by application.

At around 35% of the global market share, North America is the largest market for agricultural microbials which is then 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 fastest growth in terms of demand. In South America, Brazil is seen to grow rapidly in order to lessen the dependence on agrochemicals.

Leading companies in the agricultural microbial industry are actively involved in developing new products, manufacturing technology adoption and distribution reach to garner the growing market demand. Major players identified here are- Novozymes, Arysta Lifescience Limited, Syngenta Ag, BASF and Bayer etc. Merger & acquisition and new product launches are being implemented by global players for expansion.

Mordor Intelligence understands the need of unique information requirement in today’s fast-paced and competitive business environment, helping you gain the edge over your competition. To download this report visit Global Agricultural Microbials Market

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