DUBLIN--(BUSINESS WIRE)--The "Agricultural Microbial Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global agricultural microbial market is expected to grow at a compound annual growth rate of 12.61% over the forecast period to reach a market size of US$9,087.791 million in 2026 from US$3,956.654 million in 2019.
Agricultural microbial refers to the microorganisms used in agriculture to enhance crop productivity and quality of yield. Microbial inoculants used in agriculture have target specific functions, and thus are suitable for use in various crops. They consist of microorganisms such as bacteria, fungi, and viruses that are beneficial for assisting various agricultural practices such as crop protection and soil improvement. Microbes act as an important active ingredient in various biostimulants that help improve crop yields. In recent times, they have emerged as an effective substitute for synthetic agrochemicals. Moreover, they have functional superiority that encourages crop development by complementing the soil microbiota by enhancing nutrient uptake and increasing soil fertility.
The growing trend of adopting organic farming as an alternative to conventional farming practices to achieve sustainability and lower the negative impact on the environment has contributed to driving the market growth. The promising growth potential of organic agriculture practices is anticipated to complement the growth of the agricultural type of microbial. This is also expected to drive natural plant growth regulators and crop protection products in the forthcoming years. According to a 2019 Organic Survey by the National Agricultural Statistics Service, there has been a rise of 17% in the certified organic farms in the U.S. between 2016 and 2019. The strong emphasis of the government to adopt organic farming has led to increased acceptance of such microbial globally.
However, the major factors hampering the market growth and adoption of agricultural microbial are the high application cost and delayed effects of microbial inoculants as compared to conventional chemical agrochemicals. Manufacturers are witnessing several challenges in their growth due to the presence of several counterfeit products in the market and the implementation of government regulations.
Companies Mentioned
- Certis USA
- BASF SE
- Novozymes
- Sumitomo Chemical
- Bayer CropScience
- Queensland Agricultural Seeds
- Syngenta AG
- Dow AgroSciences
- Novagreen Inc.
- XiteBio Technologies
Impact of COVID - 19.
The COVID - 19 pandemic is expected to hurt the growth of the agricultural microbial market as due to the pandemic, supply chains around the globe were disrupted leading to an inadequate supply of microbial to farmers in need. Moreover, restrictions imposed on the movement and gathering of people led to a decline in agricultural activities, thus, reducing the demand for microbial.
Key Topics Covered:
1. Introduction
2. Research Methodolog
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Function Value Chain Analysis
5. Global Agricultural Microbial Market Analysis, By Type
5.1. Introduction
5.2. Bacteria
5.3. Protozoa
5.4. Viruses
5.5. Fungi
6. Global Agricultural Microbial Market Analysis, By Crop Type
6.1. Introduction
6.2. Cereals and Grains
6.3. Fruits and Vegetables
6.4. Oilseeds and Pulses
6.5. Others
7. Global Agricultural Microbial Market Analysis, By Function
7.1. Introduction
7.2. Crop Protection
7.3. Soil Amendment
8. Global Agricultural Microbial Market Analysis, By Mode of Application
8.1. Introduction
8.2. Soil Treatment
8.3. Seed Treatment
8.4. Foliar Spray
9. Global Agricultural Microbial Market Analysis, By Formulation
9.1. Introduction
9.2. Dry Formulation
9.3. Liquid Formulation
10. Global Agricultural Microbial Market Analysis, By Geography
10.1. Introduction
10.2. North America
10.3. South America
10.4. Europe
10.5. Middle East and Africa
10.6. Asia Pacific
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles.
12.1. Certis USA
12.2. BASF SE
12.3. Novozymes
12.4. Sumitomo Chemical
12.5. Bayer CropScience
12.6. Queensland Agricultural Seeds
12.7. Syngenta AG
12.8. Dow AgroSciences
12.9. Novagreen Inc.
12.10. XiteBio Technologies
For more information about this report visit https://www.researchandmarkets.com/r/x43yuj
