Global Agricultural Microbial Market to Reach US$ 23.9 Billion by 2032, Bolstered by Increasing Adoption of Sustainable Agricultural Practices

October 14, 2022 | Agriculture

According to the latest report by IMARC Group, titled “Agricultural Microbial Market Report by Type (Bacteria, Fungi, Virus, and Others), Formulation (Dry, Liquid), Application Method (Soil Amendment, Crop Protection), Function (Foliar Spray, Soil Treatment, Seed Treatment, and Others), Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables, and Others), and Region 2024-2032," the global agricultural microbial market reached a value of US$ 9.6 Billion in 2023. Agricultural microbial refers to microorganisms that play an essential role in numerous farming practices to improve crop productivity and yield quality. They include protozoa, viruses, fungi, archaea, yeast, molds, algae, and bacteria. Agricultural microbial are widely used for soil improvement, crop protection, increasing soil fertility, and enhancing the uptake of nutrients such as phosphorous and nitrogen. They also assists in composting to produce manure by decomposing organic matter and recycling old plant materials. Agricultural microbial provides several benefits, including drought and heat tolerance and resistance to insects, plant diseases, salinity, and ultraviolet (UV) radiations. They also offers certain antibiotics and growth substances that assist in the development of plants.

Global Agricultural Microbial Market Trends:

The rising adoption of sustainable agricultural practices is one of the key factors driving the market growth. Agricultural microbial is widely used as an economical solution to improve plant health and enhance crop production while controlling disease outbreaks, enhancing soil conditions, refining the nutrient transportation process, reducing soil erosion, and preserving freshwater. In addition, rising awareness regarding the benefits of employing agricultural microbial in farming, such as nitrogen fixation, disease control, and soil enrichment, is acting as another growth-inducing factor. Furthermore, widespread product adoption in formulating biofertilizers, biopesticides, and biostimulants to improve crop yield, prevent root-fungus disease, and increase germination, seedling vigor, and flowering is providing an impetus to the market growth. Additionally, the introduction of advanced production techniques for plant growth-promoting (PGP) microbes, such as liquid, talc, sawdust, and peat-based formulations that prevent the loss of bioactivity and improve the physical, chemical, and nutritional properties of the formulated biomass, is creating a positive outlook for the market. Moreover, the implementation of various government initiatives promoting the use of microbes as biofertilizers and an effective substitute for synthetic agrochemicals is providing a considerable boost to the market growth. Other factors, including rising consumer concerns regarding environmental pollution and greenhouse gas (GHG) emissions caused by conventional agricultural practices and extensive research and development (R&D) activities, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 23.9 Billion by 2032, exhibiting a CAGR of 10.3% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been divided into bacteria, fungi, virus, and others.
  • Based on the formulation, the market has been bifurcated into dry and liquid.
  • On the basis of the application method, the market has been categorized into soil amendment and crop protection.
  • Based on the function, the market has been classified into foliar spray, soil treatment, seed treatment, and others.
  • On the basis of the crop type, the market has been divided into cereals, oilseeds and pulses, fruits and vegetables, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being AgBiome, BASF SE, Bayer AG, Cargill Incorporated, Certis USA LLC, Chr. Hansen A/S, DuPont de Nemours Inc., Koppert Biological Systems, Marrone Bio Innovations (Bioceres Crop Solutions), Novozymes A/S (Novo Holdings A/S), Nufarm Limited, Sumitomo Chemical Co. Ltd. and Syngenta AG.

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Global Agricultural Microbial Market to Reach US$ 23.9 Billion by 2032, Bolstered by Increasing Adoption of Sustainable Agricultural Practices
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