PUBLISHER: The Business Research Company | PRODUCT CODE: 1392415
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392415
“Agricultural Microbial Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on agricultural microbial market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for agricultural microbial? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The agricultural microbial market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Agricultural microbials pertain to the characteristics of microorganisms associated with plants, addressing issues in farming practices typically arising from a lack of biodiversity in microbial populations. These microbials aim to enhance agricultural techniques by promoting a more diverse and balanced microbial environment.
The primary types of agricultural microbials include bacteria, fungi, viruses, and others. These microbials are formulated in both dry and liquid forms and are utilized for crop protection and soil amendment. Bacteria, a type of soil microorganism, plays a crucial role in soil transformation and is also employed as a biofertilizer for organic crop production, contributing to increased yields. Various modes of application, including soil treatment, foliar spray, and seed treatment, are employed in different crops such as cereals and grains, oilseeds and pulses, fruits and vegetables, turf, and ornamentals.
The agricultural microbial market research report is one of a series of new reports from The Business Research Company that provides agricultural microbial market statistics, including agricultural microbial industry global market size, regional shares, competitors with an agricultural microbial market share, detailed agricultural microbial market segments, market trends and opportunities, and any further data you may need to thrive in the agricultural microbial industry. This agricultural microbial market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The agricultural microbial market size has grown rapidly in recent years. It will grow from $5. 85 billion in 2023 to $6. 75 billion in 2024 at a compound annual growth rate (CAGR) of 15. 5%. The growth observed in the historic period can be attributed to several factors, including the growing demand for sustainable agriculture practices, regulatory support, increased farm productivity, and concerns over pesticide residues. These factors collectively contributed to the development and adoption of agricultural microbials during that period.
The agricultural microbial market size is expected to see rapid growth in the next few years. It will grow to $11. 87 billion in 2028 at a compound annual growth rate (CAGR) of 15. 1%. The anticipated growth in the forecast period can be attributed to ongoing emphasis on sustainability, adaptation to climate change, the growth of organic farming, global food security concerns, the adoption of integrated pest management (IPM), and opportunities in emerging markets. Key trends expected in the forecast period encompass advancements in biotechnology, increased focus on research and development, collaboration and partnerships within the industry, the utilization of microbial consortia, microbiome research applications, and the integration of digital agriculture solutions. These trends reflect the evolving landscape and innovations in the field of agricultural microbials.
The anticipated surge in awareness regarding organic farming is poised to drive the future growth of the agricultural microbial market. Organic farming, characterized by the absence of chemical pesticides, fertilizers, and additives, relies on a diverse community of microorganisms to safeguard plants from diseases and promote soil health and productivity. As per data from the United States Food and Agriculture Organization, in 2021, organic agriculture was adopted and practiced in 187 countries, encompassing nearly 72. 3 million hectares of agricultural land tended to organically by approximately 3. 1 million farmers. Consequently, the increasing awareness of organic farming principles serves as a catalyst for the growth of the agricultural microbials market.
The anticipated elevation in crop productivity stands as a driving force behind the anticipated growth of the agricultural microbial market. Enhanced crop productivity, achieved through improved farming practices, advanced technologies, and innovative agricultural inputs, is facilitated by agricultural microbials employing mechanisms such as Nitrogen-fixing bacteria to convert atmospheric nitrogen into a usable form, reducing the reliance on synthetic fertilizers. Additionally, phosphate-solubilizing microbes enhance phosphorus availability, promoting root development and nutrient uptake, while microbial antagonists offer protection against pathogens. A report from the Food and Agriculture Organization in December 2022 indicated that global primary crop commodity production reached 9. 5 billion tons in 2021, marking a 54% increase since 2000 and a 2% rise since 2020. Therefore, the pursuit of enhanced crop productivity is a key driver for the agricultural microbial market.
A noteworthy trend gaining traction in the agricultural microbial market is the increasing focus on investments. Leading companies in the agricultural microbial sector are directing their efforts toward investments aimed at developing new technologies and products. For instance, in February 2021, ADM, a U. S. -based company specializing in nutrition, agricultural origination, and processing, announced a significant equity investment in Acies Bio, a biotechnology firm based in Slovenia. Acies Bio specializes in research and development as well as manufacturing services, particularly in synthetic biology and precision fermentation technologies for application in food, agriculture, and industry. This strategic investment positions ADM to advance precision microbial fermentation activities swiftly by leveraging Acies Bio's substantial microbial expertise and contract manufacturing services.
Key players in the agricultural microbial market are actively focusing on forging new partnerships as a strategic move to fortify their market presence. A business strategic partnership denotes a structured collaboration between two or more commercial entities, typically formalized through one or more business agreements or contracts. A case in point is the collaboration between Indigo Ag, a U. S. -based agricultural technology company, and ISAOSA, a Mexico-based fertilizer distributor, in January 2023. This partnership aimed to introduce innovative microbial technology in Mexico, with the microbial product Indigo 30, a member of Indigo's biotrinsic range, designed to enhance nutrient use efficiency and increase corn crop yields. A notable feature of the new formulation is its compatibility with direct combination with fertilizer, significantly expanding the product's application window for farmers.
In January 2023, Alltech Crop Science, a Brazil-based company specializing in innovative, reliable, and sustainable biological solutions, completed the acquisition of Ideagro for an undisclosed sum. This strategic acquisition is intended to augment the offerings of Alltech Crop Science in biological and microorganism-based solutions, while also accelerating research in soil and crop development. Ideagro, a Spain-based agri-food research and development company, possesses expertise in the development of beneficial organisms for soil enhancement. The acquisition aligns with Alltech Crop Science's commitment to advancing its capabilities in the biological solutions domain.
Major companies operating in the in the agricultural microbial market report are BASF SE, Syngenta AG, Koppert BV, Novozymes A/S, Bayer CropScience, Arysta Lifescience Limited, AgBiome LLC, Certis Usa LLC, Chr. Hansen A/S, BioAg Alliance, Marrone Bio Innovations, Monsanto Company, Corteva Agriscience, Valent BioSciences, Lallemand Plant Care, Camson Bio Technologies, Becker Underwood, BioConsortia Inc., Phyllom BioProducts Inc., Rizobacter Argentina S. A., Terramera Inc., BioWorks Inc., Biochimex S. A. S., BioForest Technologies Inc., Andermatt Biocontrol AG, Verdesian Life Sciences LLC, Metagenomics Inc., Qingdao Future Group, BioNovelus Inc.
North America was the largest region in the microbial agriculture market in 2023. The regions covered in the agricultural microbial market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the agricultural microbial market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The agricultural microbial market consists of sales of arbuscular mycorrhizal fungi, plant growth-promoting rhizobacteria, and nitrogen-fixing rhizobia. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.