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How Sustainability and Organic Farming Practices Are Enhancing the Offerings of Top Agricultural Microbials Companies?

November 29, 2023 | Agriculture

Agricultural microbials are a boon for the agriculture sector. They include fungi, bacteria, and viruses that enhance agricultural practices, such as soil improvement and crop protection. An increase in government initiatives to promote agricultural microbials as sustainable biochemical and surging demand for biopesticides and biofertilizers are projected to boost market expansion in the coming years. As per a report by Fortune Business Insights™, the market for agricultural microbials reached USD 5.27 billion in 2021 and is set to reach USD 15.71 billion in 2029 with a CAGR of 14.74%. The market also reached the valuation of USD 6.00 billion in 2022. Border closures and restricted movements due to the COVID-19 outbreak restrained demand for these microbials. Top agricultural microbials companies are engaged in R&D of new product advancements to boost their product portfolio and maintain their market positions.