Global Agricultural Microbials Market Size (2022 – 2027)
The Global Agricultural Microbials Market was valued at USD 6.2 billion in 2021 and is expected to grow at a CAGR of 12.5% to reach a value of USD 12.4 billion by 2027.
Agricultural Microbials are made from naturally existing microorganisms like bacteria, fungi, viruses, and protozoa. The management of soil and plant health relies heavily on microbial communities and their variety of functions, which also aids in controlling agroecology, the environment, and agriculture.
Key Developments
Market Drivers
The increasing demand for maintaining soil health and enhancing crop yield is the main factor contributing to the growth of the global agricultural microbials market during the forecast period. In addition, microorganisms are essential for N-fixation, nutrient uptake, carbon sequestration, plant growth promotion, pathogen suppression, induced systemic resistance, and stress tolerance, all of which are utilized as indications of increased crop yield and long-term soil health. Hence, microbial's various benefits in agriculture boost the global agricultural microbials market growth. Additionally, the increasing government efforts to promote the use of microbes in the fields are accelerating the global agricultural microbials market growth. Furthermore, increasing awareness among farmers regarding the benefits of microbes in the agricultural field and the various market players coming up with innovations in their products are further contributing to the growth of the global agricultural microbials market during the forecast period.
Market Restraints
There are certain disadvantages concerning using microbes in agricultural fields, such as the microbial culture applied in the seed treatment results in the destruction of the accessibility of sowing seeds. Additionally, because microbial have a poor on-seed survival rate, their storage stability hinders their efficient usage. Furthermore, a lack of awareness among the farmers regarding the efficient use of agricultural microbials may refrain them from adopting them in their fields. Hence, the above-mentioned factors result in the low adoption of the microbial in agricultural fields, hampering the growth of the global agricultural microbial market.
Segmentation Analysis
Based on Type, the global agricultural microbial market is segmented into fungi, bacteria, viruses, and others. The Bacteria segment is expected to dominate the global agricultural microbials market with the largest shares during the forecast period. There are around 1,408,525 bacteria strains that are recognized. Bacteria are well known for their ability to control root fungus illness. Furthermore, they are widely used to enhance the growth of plants.
Based on Crop Type, the global agricultural microbial market is segmented into Oil Seeds & Pulses, Cereals & Grains, Fruits & Vegetables, and Others. The Fruits & Vegetable segment is expected to grow the fastest during the forecast period. The increasing demand for organic fruits & vegetables around the globe results in the increasing adoption of agricultural microbials in the fruits & vegetable industry.
Based on Formulation, the global agricultural microbial market is segmented into Liquid and Dry. The Liquid segment is expected to dominate the global agricultural microbials market with the largest market share during the forecast period as they are convenient to use compared to the dry agricultural microbials.
Based on Function, the global agricultural microbial market is segmented into Soil Amendment and Crop Protection. The Soil Amendment segment is expected to dominate the global agricultural microbial market, with the largest market share during the forecast period. As agricultural microbials enhance soil fertility by providing essential nutrients, they are widely used for amendment purposes. Hence this factor is driving the growth of the soil amendment segment during the forecast period.
Based on the Mode of Application, the global agricultural microbial market is segmented into Soil Treatment, Seed Treatment, Foliar Spray, and Others. The Foliar Spray segment is expected to dominate the global agricultural microbials market with the largest shares during the forecast period. With the help of foliar sprays, the crops can easily absorb the nutrients produced by the liquid microbial. Hence, most farmers adopt foliar sprays to spray the liquid microbial on their crops.
North America is expected to dominate the global agricultural microbials market with the largest market share during the forecast period. The increasing adoption of agricultural microbials in the region is driving the growth of the agricultural microbials market in North America. Moreover, the government agencies such as the U.S. Department of Agriculture (USDA) and the National Science Foundation (NSF) promoting agricultural microbials are propelling the agricultural microbials market growth. Also, the presence of the major market players in the regions of North America is further boosting the growth of the agricultural microbials in the region.
Europe is expected to hold the largest market share after North America during the forecast period. The presence of huge agricultural lands in Europe is the major factor contributing to the growth of the agricultural microbials in the region. Furthermore, the rising awareness regarding agricultural microbials and the increasing adoption of organic fertilizers to enhance soil fertility and boost plant growth drives agricultural microbial growth in Europe.
The COVID-19 pandemic positively impacted the global agricultural microbial market due to the growing demand for organic fertilizers to develop healthier and sustainable agricultural products.
Key Players
FAQ's
The Global Agricultural Microbials Market was valued at USD 6.2 billion in 2021.
The Global Agricultural Microbials Market is expected to grow at a CAGR of 12.5%.
In September 2022, FMC Corporation (India), an agricultural sciences company, expanded its portfolio with the introduction of three novel products for the management of pests and enhancing soil fertility. Furthermore, in August 2022, Corteva Agriscience and BASF Agricultural Solutions collaborated to provide soybean farmers with the future of weed management.
North America is expected to dominate the Global Agricultural Microbials market with the largest market share, followed by Europe during the forecast period.
Some market players in the global agricultural microbials market are Corteva Agriscience, BASF SE, FMC Corporation, Syngenta Crop Protection AG, and Novozymes.
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