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Agricultural Microbials Market to Touch USD 15.71 Billion by 2029; Functional Superiority of the Chemical to Enhance Industry Growth

July 18, 2022 | Agriculture

The global agricultural microbials market size is expected to exhibit strong growth by reaching USD 15.71 billion by 2029. Fortune Business Insights™ in its report titled “Agricultural Microbials Market Size, Share & COVID-19 Impact Analysis, By Type (Bacteria, Fungi, Virus, and Others), By Formulation (Dry and Liquid), By Function (Soil Amendment and Crop Protection), By Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), and By Crop (Cereals, Oilseeds & Pulses, Fruits & Vegetables, and Others), and Regional Forecast, 2022-2029”. observes that the market size in 2021 stood at USD 5.27 billion and reached USD 6.00 billion in 2022. The market is expected to exhibit a CAGR of 14.74% during the forecast period. The functional superiority of microbials and the increasing emphasis on organic agriculture may bolster the market growth.


BASF SE and AgBiome Declared an Agreement to Expand Market Presence


BASF SE and AgBiome entered into an agreement to develop biological fungicide in Europe and the Middle East & Africa in March 2021. This development may allow the company to expand its market reach in the regions and enhance its market presence.


Supply Chain Disruptions Hindered Market Progress


This market was negatively affected during the COVID-19 pandemic due to supply chain disruptions. Restricted movements and border closures are the main reasons responsible for this disruption. Further, transportation delays and a decline in agricultural commodities hampered the market’s progress. However, strong biostimulants sales enhanced the industry's growth. For example, Syngenta and BASF SE witnessed strong growth during the pandemic. Syngenta experienced a 2% rise in sales figures in 2020. These factors may boost the industry’s growth during the pandemic.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/agricultural-microbial-market-100412


Rising Awareness Regarding Synthetic Chemicals’ Bad Effects on Crops to Boost Market Progress


Agricultural microbials consist of fungi, viruses, and bacteria beneficial for agricultural activities such as soil improvement and crop protection. Strong demand for eco-friendly crops may enhance agricultural microbials’ adoption. The rising concerns regarding the detriments of synthetic fertilizers are likely to enhance natural fertilizers’ demand. For example, as per the United Nations and the Food and Agriculture Organization, synthetic fertilizers produce nearly 13% of greenhouse gas emissions. Furthermore, increasing demand for organic foods and farming may enhance the demand for organic fertilizers. These factors are likely to drive the agricultural microbials market growth.


Key Players Announce Novel Operating Units for the Expansion of its Activities


Prominent companies operating in the market announce new operating units to expand activities globally. For example, Valent BioSciences LLC opened a new operating unit in February 2022 to expand its biostimulant product line-up. This strategy may allow the company to expand its operating units. Further, companies devise research and development, partnerships, mergers, acquisitions, and automated production techniques to satisfy goals and enhance their market position globally.


Notable Industry Development



  • May 2021- Lesaffre acquired the U.S.-based Advanced Biological Marketing (ADM). ADM specializes in bio-nutrition products, and this acquisition may enable Lesaffre to penetrate the U.S. market.


List of Key Players Profiled in the Report



  • Certis USA LLC (U.S.)

  • ChemChina (China)

  • Marrone Bio Innovations, Inc. (U.S.)

  • Koppert Biological Systems (Netherlands)

  • Varsha Bioscience and Technology Pvt. Ltd. (India)

  • Andermatt Biocontrol AG (Switzerland)

  • BASF SE (Germany)

  • Sumitomo Chemical Co., Ltd. (Japan)

  • Novozymes (Denmark)

  • Bioceres S.A. (Argentina)


Further Report Findings



  • The market in North America stood at USD 2.09 billion in 2021 and is expected to gain a huge portion of the global agricultural microbials market share. The rising awareness of the health benefits associated with the use of these microbials in farming is expected to enhance industry growth.

  • Further, regulations and policies regarding organic farming practices may enhance the product’s adoption. The National Science Foundation (NSF) and the U.S. Department of Agriculture (USDA) promote the research and development of fertilizers to achieve diversity.

  • In Europe, stringent government regulations regarding non-synthetic fertilizers’ adoption may promote market growth.


Table of Segmentation-


























































  ATTRIBUTE


  DETAILS

Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



By Type




  • Bacteria

  • Fungi

  • Virus

  • Others



By Formulation




  • Dry

  • Liquid



By Function




  • Soil Amendment

  • Crop Protection



By Application Method




  • Foliar Spray

  • Soil Treatment

  • Seed Treatment

  • Others



 By Crop




  • Cereals

  • Oilseeds & Pulses

  • Fruits & Vegetables

  • Others



 


 


 


 


 


By Geography




  • North America (By Type, Formulation, Application Method, Function, Crop, and Country)

    • U.S. (By Formulation)

    • Canada (By Formulation)

    • Mexico (By Formulation)



  • Europe (By Type, Formulation, Application Method, Function, Crop, and Country)

    • Germany (By Formulation)

    • France (By Formulation)

    • Italy (By Formulation)

    • Spain (By Formulation)

    • U.K. (By Formulation)

    • Russia (By Formulation)

    • Rest of Europe (By Formulation)



  • Asia Pacific (By Type, Formulation, Application Method, Function, Crop, and Country)

    • China (By Formulation)

    • India (By Formulation)

    • Japan (By Formulation)

    • Australia (By Formulation)

    • Rest of Asia Pacific (By Formulation)



  • South America (By Type, Formulation, Application Method, Function, Crop, and Country)

    • Brazil (By Formulation)

    • Argentina (By Formulation)

    • Rest of South America (By Formulation)



  • Middle East and Africa (By Type, Formulation, Application Method, Function, Crop, and Country)

    • South Africa (By Formulation)

    • Israel (By Formulation)

    • Rest of ME&A (By Formulation)




Agricultural Microbials Market
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  • 2021
  • 2018-2020
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