The report “Agricultural Microbials Market is estimated to be valued at USD 6.0 billion in 2020. It is projected to reach a value of USD 11.6 billion by 2025, growing at a CAGR of 14.1% during the forecast period. Factors such as rise in adoption of integrated pest management (IPM) practices across the globe and reduced development cost for microbials in comparison to conventional chemical pesticides target specificity associated with microbial pesticides and the rising trend of adopting organic farming practices.Request for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15455593The bacteria segment is projected to be the largest segment in the agricultural microbials market during the forecast period.
The bacteria segment is projected to account for the largest market share, with USD 8.7 billion by 2025. There are around 1,408,525 strains of bacteria successfully registered, and they are the largest class of microorganism strains that have been registered and used for various industrial purposes. Bacterial strains have been most successfully isolated and used for cultivation purposes compared to all the other microorganisms, and form 43.5% of all the microorganisms strains registered globally. The application of bacteria in agriculture has increased in terms of biofertilizers and biopesticides, as these sustainably provide higher and healthy yields. Their benefits in achieving a holistic plant growth in cultivation increase their usage in the market.
By function, the crop protection segment is projected to witness faster growth, at a CAGR of 15.98%, by 2025. The microbial pest control provides a significant amount of target specificity and ecological safety and hence can be applied uniquely or in combination with other pest management programs. Thus, the growers increasingly find the application of the products in this segment, so their market seems to grow rapidly.
North America is projected to have the largest share of USD 4.0 billion in 2025. The region is experiencing high growth in organic farming practices, farm conversions from conventional to organic, and development of newer biological solutions through research. The increasing growth of high-value crops and rising awareness among farmers about the environmental benefits of microbial solutions are expected to provide more scope for agricultural microbials market expansion. Populations in this region also are becoming more concerned regarding food safety and quality; thus, the governments have to invest more so that they meet these needs of the population, which tends to increase the demand for microbial solutions in the region.Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=15455593
Key players in this market include BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), and CHR. Hansen Holdings (Denmark). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. They show a strong presence in North America, Asia Pacific, and Europe, and have manufacturing facilities, along with strong distribution networks across these regions.