PUBLISHER: Grand View Research | PRODUCT CODE: 1376228
PUBLISHER: Grand View Research | PRODUCT CODE: 1376228
The global agricultural microbials market size is expected to reach USD 19.12 billion by 2030, growing at a CAGR of 14.2%, according to a new study by Grand View Research, Inc.. Agricultural microbials deal with plant-associated microbes and plant and animal diseases. These products increasingly find applications as bio-pesticides, bio-fertilizers, and bio-stimulants, which provide a comprehensive approach to sustainable plant health. In conventional farming, they can be combined with other chemical supplements the growers use.
Rapid changes in climate conditions have led to the prevalence and occurrence of plant pests and diseases. Continual fluctuations in climate play a significant role in crop production and susceptibility to pests. Climate change increases crops' vulnerability to different diseases and pests, negatively impacting the overall crop yield. Hence, climate change leads to deviations in farming practices and results in declined crop productivity. These factors have heightened the dependability of farmers on distinguished crop protection products for effective pest prevention, thereby propelling the market demand in the coming years. The growing consumer preference for organic food products, residue levels in food, gradual phase-out of vital active ingredients, pest resurgence, resistance, and increased need for agricultural sustainability are projected to positively influence the market growth over the forecast period.
The use of agricultural microbial products has increased worldwide, especially in Europe and North America. North America domestically consumes more than half of the world's produced bio-pesticides. The overuse of synthetic fertilizers has led to the degradation of soil qualities across the region. The biological fixation of nitrogen is an environment-friendly and inexpensive alternative to chemical fertilizers in crops. In addition, bio-fertilizers are widely used for crops such as rice, millets, pulses, sugarcane, cotton, and other horticulture crops within the region. Thus, the high specificity of microbial insecticides and fungicides toward pests and fungi drives the growth of agricultural microbials.