The Global Agriculture Microbial Market is projected to register at a CAGR of 5.5% during the forecast period (2021-2026). The Covid-19 has shown a positive impact on the market due to the growing demand for biopesticide products in order to produce sustainable and healthy agricultural products. The global market has been witnessing an upward trend due to increasing awareness and support from several agencies with respect to the usage of agricultural microbial. By additive type segment of the market, the fungi types are projected to be the fastest-growing segment, owing to the factor that increased the demand for fungi as inoculant applied across various types of crops like cereals, grains, fruits, and vegetables globally owing to its effectiveness. However, the lack of technological advancements in microbial inoculants and the need for maintaining high numbers of functional microorganisms on the seed during seed treatment are some challenges to microbial seed treatment manufacturers. North America was the largest geographic segment of the market studied. The increasing growth of high-value crops and raising awareness among farmers about the environmental benefits of microbial solutions are expected to provide more scope for agricultural microbials market expansion in the region
Key Market Trends
Increasing Food Demand and Food Safety
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. The concern of the general public over environmental safety is one of the leading drivers for microbial products’ usage. Forces driving demand for microbial include the need for crop intensification (being able to increase yields per acre), while pursuing increasingly sustainable practices, seeking biological alternatives to boost production with decreased pressure on the environment, or adding to integrated practices to close the yield gap. 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.
North America Dominates the Global Market
North America was the largest market share, with the United States accounting for more than half of the regional market share in 2020. The requirement for high-crop productivity and production with high-quality, evolving agricultural practices and precision farming has been driving the market growth for agriculture microbial products over the years in North America. The region is promoting the use of microbial products, in order to balance the agricultural sector growth, which is mostly opted by chemical fertilizer and pesticide required in order to sustain its large-scale productions. In North America, the United States holds the largest market with more than half of the market. The rise in organic and environment-friendly farming practices has increased the demand for agricultural microbial products, especially in the US. The country with its highly evolved agricultural sector has been adapting to the natural and organic way of farming with the increasing awareness regarding balanced plant nutrition.
The agricultural microbial market is a highly fragmented market, with the presence of many domestic players who are operating in this market. Major players such as BASF, Certis USA LLC, Marrone Bio Innovations, and others have a very diversified product portfolio in this market. Additionally, these players are also focusing on R&D, wide geographical presence, and aggressive acquisition strategy as their key adopted strategies to strengthen their position in the market.
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