PUBLISHER: Meticulous Research | PRODUCT CODE: 1504158
PUBLISHER: Meticulous Research | PRODUCT CODE: 1504158
Agricultural Microbials Market by Microorganism Type (Bacteria, Fungi, Virus), Product Functionality (Soil Amendments, Crop Protection), Formulation, Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment), Crop Type-Global Forecast to 2031
According to a new market research report titled, 'Agricultural Microbials Market by Microorganism Type (Bacteria, Fungi, Virus), Product Functionality (Soil Amendments, Crop Protection), Formulation, Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment), Crop Type - Global Forecast to 2031,' by Meticulous Research(R), the agricultural microbials market is projected to reach $27.08 billion by 2031, at a CAGR of 13% from 2024 to 2031. The report provides an in-depth analysis of the agricultural microbials market across five major geographies, current market trends, size, and recent developments, and the forecast for 2031.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. The growth of the agricultural microbials market is driven by the growing awareness regarding the utilization of synthetic chemicals, rising organic farming and demand for organic food, increasing focus on sustainable agriculture practices, and growing concerns regarding environmental safety. However, the lack of education and awareness among farmers and the high cost of agricultural microbials production restrain the growth of this market.
Moreover, the growing adoption of agricultural microbials in emerging economies is expected to generate significant growth opportunities for the stakeholders operating in the agricultural microbials market. On the other hand, the shorter shelf life of agricultural microbial and lengthy product registration and approval processes are major challenges for market growth.
Key Players
The key players operating in the agricultural microbials market are Syngenta AG (A Part of China National Chemical Corporation/Chemchina) (Switzerland), BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), UPL Limited (India), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Sumitomo Chemical Co., Ltd. (Japan), Koppert B.V. (Netherlands), Pro Farm Group Inc. (U.S.), Isagro S.p.A. (Italy), BioWorks, Inc. (U.S.), Certis USA L.L.C. (U.S.), and Biobest Group NV (Belgium).
Based on microorganism type, the agricultural microbials market is segmented into bacteria, fungi, viruses, and other types. In 2024, the bacteria segment is expected to account for the largest share of the agricultural microbials market. The segment's large market share is mainly attributed to the rising number of applications of bacteria in the formulation of biofertilizers, biopesticides, and biostimulants. Bacteria are commonly known for performing several growth-enhancing functions in plants and protecting plants from various root-fungus diseases, influencing the segment market growth. In addition, bacteria play a crucial role in maintaining soil health by promoting nutrient cycling, improving soil structure, and suppressing soil-borne diseases. These factors contribute to the segment's large share.
Based on product functionality, the agricultural microbials market is segmented into soil amendments and crop protection. In 2024, the crop protection segment is expected to account for the larger share of the agricultural microbials market. The segment's large market share is mainly attributed to the growing need to increase crop yield and quality, growing awareness about environmental safety, increasing adoption of advanced agricultural practices and technologies, growing organic farming and the rising demand for organic food, and rapidly decreasing agricultural land.
However, the soil amendments segment is projected to witness significant growth during the forecast period of 2024-2031. The higher growth of this segment is mainly driven by the growing widespread use of agricultural microbes for enhancing soil properties and fertility.
Based on formulation, the agricultural microbials market is segmented into liquid and dry. In 2024, the liquid segment is expected to account for the larger share of the agricultural microbials market. The segment's large share is attributed to the liquid formulation's better performance and higher effective duration (up to 6 months) than that of dry formulation (up to 3 months). Moreover, it does not require any previous procedures, such as mixing, which helps avoid spoilage.
Based on mode of application, the agricultural microbials market is segmented into foliar spray, soil treatment, seed treatment, and other modes of application. In 2024, the foliar spray segment is expected to account for the largest share of the agricultural microbials market. The segment's large share is mainly attributed to its high efficiency in the application, uniform distribution of chemicals, and minimum to no wastage of agricultural microbials in the foliar spray mode of application. Additionally, the uptake of nutrients is much faster in foliar spray as it quickly absorbs the nutrients, and this technique is comparatively easier to apply and acts as a prompt correction treatment for several diseases and deficiencies in plants; these factors contribute to the segment's large share.
Based on crop type, the agricultural microbials market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. In 2024, the cereals & grains segment is expected to account for the largest share of the agricultural microbials market. The segment's large share is mainly attributed to the growing need to increase cereal & grain production, minimize cereal & grain loss due to pests and diseases, and the increasing use of these crops in animal feed, biofuel, and starch & ethanol production. Additionally, in many countries, governments actively support cereals & grains production due to their importance in food security. This often includes policies and subsidies that incentivize the use of modern agricultural practices, including the use of agricultural microbials.
Based on geography, the agricultural microbials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the agricultural microbials market. The large share of this regional market is mainly attributed to the farmers' rising awareness about the environmental benefits of such microbials and the adoption of organic farming practices. In addition, various government organizations and agencies, such as the National Science Foundation and the U.S. Department of Agriculture, are highly focused on developing agricultural microbials and encouraging farmers to opt for these solutions to enhance crop production and quality.
However, Asia-Pacific is projected to record the highest CAGR during the forecast period due to the rapid growth in population, increase in crop diseases, farmers' shift towards organic farming and implementation of environmental protection laws, and the rising need for high productivity and yield.
Agricultural Microbials Market Assessment-by Microorganism Type
Agricultural Microbials Market Assessment-by Product Functionality
Agricultural Microbials Market Assessment-by Formulation
Agricultural Microbials Market Assessment-by Mode of Application
Agricultural Microbials Market Assessment-by Crop Type
Agricultural Microbials Market Assessment-by Geography
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)