Many factors determine the size of the Agricultural Microbials Market, which determines its scope and direction going forward. One such factor that plays a vital role in recognizing more about the microbial part in sustainable agriculture is improved crop yield and quality requirements significantly stimulate further expansion of the market. Microbial products become more popular among farmers as well as agronomists aiming at increasing soil fertility and crop yield. Their application to seeds, soil, or crops actually enhances nutrient uptake tolerance to stress as well as protection against pathogens. Traders have also noted that boosting overall productivity and quality of crops has led to a surging uptake of agricultural microbials, thereby expanding the market size in general.
These escalating demands for organic food products are part of market dynamics. Thus, there is an increasing demand for organic and sustainably produced foods due to consumers' awareness of food choices. All these have been influenced by technological advancements in microbiology and biotechnology, implying that this sector has gained significance within Agricultural Microbials Market Size. It is through continued research and development in this area that new microbial strains with higher efficacy levels are being realized. Moreover, the market dynamics of agricultural microbials are strongly influenced by regulatory factors. Governments across the world are increasingly acknowledging the need for sustainable agriculture, hence coming up with rules that promote the use of microbial products over traditional chemical inputs.
Economic circumstances also influence the size of a market. Also, long-term benefits of microbial products may include increased crop yields and reduced reliance on chemical inputs, which make them economically viable for many farmers. In 2022, the size of the Agricultural Microbials Market reached USD 5.8 billion. The industry is expected to grow from USD 6.68 Billion in 2023 to USD 15.64 billion by 2030. This growth signifies a Compound Annual Growth Rate (CAGR) of 15.63% during the forecast period from 2023 to 2030. The primary drivers behind this expansion are increasing instances of cervical injuries resulting from vehicle accidents and the growing prevalence of corporate workers with cervical spondylosis. These factors play an instrumental role in the growth of the agriculture microbial market.
Report Attribute/Metric | Details |
---|---|
Segment Outlook | Product Type, Operating Platforms, and Region |
Agricultural Microbials Market Size was valued at USD 5.8 billion in 2023. The Agricultural Microbials market industry is projected to grow from USD 6.68 Billion in 2024 to USD 15.64 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.63% during the forecast period (2024 - 2032). The rising frequency of cervical spondylosis among corporate workers and the increasing occurrences of cervical injuries in vehicle accidents are the key market drivers enhancing the Agricultural Microbials market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The industry grew due to the expanding trend of organic farming, which aims to reduce negative environmental effects and promote sustainability. The need for agricultural microbials is projected to be supported by the rising potential of organic farming techniques. In the upcoming years, this factor is projected to drive up demand for crop protection products and natural plant growth regulators.
Synthetic pesticides and fertilizers have been found to have harmful impacts on the environment and human health. Many initiatives are made to enhance farm management techniques due to the significant ecological harm caused by synthetic fertilizers. According to the United Nations and the Food and Agriculture Organization, synthetic fertilizers are responsible for 13% of all agricultural greenhouse gas (GHG) emissions. Prominent companies and other governmental and non-governmental organizations promote sustainable agricultural methods by offering financial aid and subsidies for agricultural microbes, which are essential to such methods. Thus, this factor is driving the Agricultural Microbials market CAGR.
The use of microbes has certain advantages, including improved crop output, nutrient absorption, and organic farming. The need for sustainable farming is rising, and the world's expanding population is fueling this desire. The general people are becoming increasingly aware of the negative consequences of manmade chemicals on health. Moreover, the growing need for microbial for sustainable agricultural intensification is anticipated to support Agricultural microbial market expansion. Because of this, they are more in demand and popular as a biological source to increase output, and their inclusion in integrated farming techniques is expected to reduce yield gaps. Moreover, the expansion of the agricultural microbials market is anticipated to be fueled by microbials' affordability and eco-friendliness.
By 2050, the FAO predicts that there will be 9 billion people on the planet, increasing the need for food to sustain the expanding population. Also, the use of microbial products is being driven by public worries about the safety of their food and the environment. The need for crop intensification (the ability to increase yields per acre while pursuing increasingly sustainable practices), the search for biological substitutes to increase production while putting less stress on the environment, or the addition of integrated practices to close the yield gap is some additional factors driving the demand for microbial. Thus, this aspect is anticipated to accelerate Agricultural Microbials market revenue.
Based on type, the Agricultural Microbials market segmentation includes Bacteria, Fungi, Protozoa, and Others. The Bacteria Agricultural Microbials segment held the majority share in 2022, contributing around 65-67% concerning the Agricultural Microbials market revenue. The primary reason anticipated to increase its demand in the next years is the widespread use of bacteria in formulating biopesticides, biofertilizers, and biostimulants. Bacteria help plants develop in various ways, and some have even been linked to protective microorganisms that control root-fungus illness. Also, many other types of bacteria are easily accessible in the environment, making up most of the microorganisms in the soil (around 95%).
Based on function, the Agricultural Microbials market segmentation includes Crop Protection, Soil Enhancement, and Others. The Soil Enhancement segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Over the projected period, the soil amendment segment is anticipated to rise due to the widespread use of agricultural microbes for crop protection. Many plant diseases and pests have been successfully controlled using microbial-based remedies. Farmers are now using these bacteria as cost-efficient and long-lasting crop protection methods. Additionally, the demand for microorganisms will rise due to their greater implementation of Integrated Pest Management (IPM) techniques.
The Agricultural Microbials market data has been bifurcated by form into Dry and Liquid. The Liquid segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. Due to its simplicity of use, the product's liquid formulation is predicted to have the biggest market share. It may be applied directly as sprays, drenches, and root dips and is more practical than the dry formulation. Also, it does not call for prior steps, such as mixing, which helps prevent rotting.
Figure 1: Agricultural Microbials Market, by Form, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Agricultural Microbials industry has been segmented based on crop type into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others. Fruits & Vegetables held the largest segment share in 2022. Because of the high monetary value attached to such commodities, there is an increasing demand for high-value crops, including fruits and vegetables. Agricultural microbes aid in supplying these crops with crucial nutrients. The rising demand for organic fruits and vegetables is anticipated to encourage microbial use for their cultivation. Microbials are also significantly more cost-effective when used to cultivate fruits and vegetables. Over the projection period, this factor is anticipated to increase its demand.
ICAR Develops New Microbial Formulations for Boosting Productivity (April 12, 2024):
The Indian Institute of Spices Research (ICAR-IISR) has developed three new microbial formulations designed to enhance agricultural productivity. These formulations combine beneficial bacteria with liming or gypsum materials (Bactolime, Bactogypsum, Trichogypsum) to address soil pH issues while simultaneously delivering vital microbes. This innovation aims to improve nutrient availability for plants and foster the growth of beneficial bacteria crucial for sustainable agriculture.
MustGrow Biologics Receives Organic Certification for TerraSante (October 23, 2023):
MustGrow Biologics, a leader in agricultural bioproducts, received organic compliance certification from the USDA National Organic Program (NOP) for their TerraSante crop fertilizer and soil amendment technology. This certification allows producers to meet the growing demand for organic products and potentially reduce their reliance on synthetic chemicals. TerraSante's OMRI Listed® status signifies its adherence to strict organic production standards.
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Agricultural Microbials market, accounted for USD 2.65 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is because farmers are becoming more aware of the advantages such microbes have for the environment and because organic agricultural methods are becoming more popular. The area encourages using microorganisms by providing supportive legislative and regulatory frameworks. Organizations like the National Science Foundation (NSF) and the U.S. Department of Agriculture (USDA) stimulate research and development initiatives to achieve microbial diversity and ensure the long-term supply of plant-associated microorganisms. Also, the major businesses in the area are maximizing the development of new products and strategic alliances to provide microbiological solutions for effective and sustainable farming.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Agricultural Microbials Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Over the projection period, Europe Agricultural Microbials market is anticipated to have the second-largest market share. Microbials are now the focus due to strict restrictions and the negative impacts of synthetic chemicals, which are predicted to boost the market. The use of biopesticides and biofertilizers has increased as organic farming has spread quickly in Germany, Italy, Denmark, and Spain. Further, the Germany Agricultural Microbials market held the largest market share, and the U.K. Agricultural Microbials market was the fastest-growing market in the European Region.
The overall expansion of the Asia Pacific Agricultural Microbials market is supported by the Region's growing knowledge of the advantages of microbial-based crop protection products and their capacity to enhance soil fertility. India and China rely heavily on agriculture, accounting for a large portion of their GDPs. These nations have also begun placing a higher priority on environmental preservation and restoration, which prompted the use of agricultural microbes. As a result, it is anticipated to create new chances for agri-microbes to thrive in the area. Moreover, the China Agricultural Microbials market held the largest market share, and the India Agricultural Microbials market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for Agricultural Microbials. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their presence. To grow and remain in a market that is becoming increasingly competitive, Agricultural microbial industry competitors must provide affordable products.
Manufacturing locally to cut operational costs is one of the main business tactics the Agricultural microbial industry uses to serve customers and increase the market sector. The Agricultural microbial industry has recently given medicine some of the most important advantages. The Agricultural Microbials market major player such as Syngenta AG (Switzerland), BASF SE (Germany), Novozymes A/S (Denmark), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Company Ltd. (Japan), Nufarm Ltd. (Australia), Bayer CropScience AG (Germany), Koppert B.V. (Netherlands), Certis U.S.A. LLC (U.S.) and others are working on expanding the market demand by investing in research and development activities.
With its management headquarters in Basel, Switzerland, Syngenta AG provides agricultural research and technology, focusing particularly on seeds and insecticides. ChemChina, a state-owned company in China, owns it. Valagro, a renowned biological firm, will be acquired by Syngenta Group in October 2020, the company stated. Valagro will continue to run as a separate brand within the Syngenta Crop Protection division. Syngenta Crop Protection's present selection of biostimulants and biocontrols and its upcoming pipeline of biological solutions would be complemented by Valagro's well-established portfolio of specialized nutrients and biostimulants.
One of the biggest pharmaceutical firms in the world is Bayer AG, a German pharmaceutical and biotechnology corporation. In addition to medicines, Bayer sells consumer healthcare items, agricultural chemicals, seeds, and biotechnology goods. Bayer is based in Leverkusen. Ginkgo Bioworks and Bayer CropScience struck a contract in April 2022 under which Ginkgo Bioworks would purchase Bayer's internal discovery and lead optimization platform and the West Sacramento Biologics Research & Development location. This arrangement will likely hasten the growth of Bayer's diverse line of top-notch microbial-based products for growers worldwide.
Key Companies in the Agricultural microbial market include
Agricultural Microbials Industry Developments
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)