Agricultural Microbials Market Analysis
Agricultural Microbials Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
Microorganism or also known as microbe are microscopic organisms that are available in a colony of cells or single cell. Some microorganisms possess biosynthetic capabilities under certain environmental condition making them valuable against pests and diseases on crops. In agricultural biology, microbials are produced from naturally occurring microorganisms namely fungi and bacteria. These agricultural microbials are used to augment the nutritional value and productivity of the plant. These are considered as profitable solutions to get a sustainable product, increase yield, and keep them away from pests. Different type of microbials are used in agricultural biology such as fungi, bacteria, viruses, and algae. These microbials play a crucial role in increasing the yield of fruits, grains, vegetables, poultry, and even milk. Moreover, the soil is one of the most important parts of agriculture where microbials are present, playing a vital role in enhancement of crop yield.
Global agricultural microbials market size was valued at US$ 3.087 billion in 2017 and is expected to exhibit a CAGR of 14.22% during the forecast period (2019-2027). Increasing demand for food products is expected to boost the global agricultural microbials market. For instance, according to Harvard Business Review, world food demand is expected to increase between 59% and 98% by 2050. Furthermore, novice production techniques that would not harm the crop yield is expected to boost the market during the forecast period. Moreover, key players are focusing on developing innovative products to obtain better crop yield, which will drive the market growth. However, limited shelf life of these microbes is expected to hamper the use of agricultural microbials, eventually hindering the market growth. Moreover, ever-changing weather conditions are also limiting the market growth.
Market Regional Analysis
Europe and North America are expected to witness lucrative growth of agricultural microbials market during the forecast period. This is owing to increasing demand for organic food in various regions. Furthermore, the U.S. is expected to register significant market share in the North America region, owing to rigorous environmental laws in agricultural sector. Moreover, Asia Pacific is expected to witness substantially growth in the market, owing to increasing production of sub-tropical and tropical fruits and vegetables. Rapidly growing population in emerging economies such as India and China is expected to boost the global agricultural microbials market. Moreover, increasing demand for food and agricultural products is expected to support the market growth.
Major players operating in global agricultural microbials market include Sumitomo Chemical Co., Ltd., BASF SE, Syngenta AG, Bayer CropScience AG, Monsanto, Novozymes, and Arysta LifeScience Limited.