Agricultural Microbial Market Size, Growth, Industry Share, Report 2023-2028

The latest research study "Agricultural Microbial Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global agricultural microbial market size reached US$ 8.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.8% during 2023-2028.

Agricultural microbial represent microorganisms that are utilized in various agricultural practices to improve the quality of yield and crop productivity. They comprise of bacteria, molds, archaea, yeasts, algae, protozoa, and viruses. Agricultural microbial variants enhance the ability of crops to resist ultraviolet (UV) radiation, extreme temperature, damages caused by insects, salinity, floods, drought, etc. They provide several nutrients, including phosphorous and nitrogen, that are essential for balancing plant hormones, stimulating growth, producing stress-protective compounds, reducing diverse plant diseases, etc. Consequently, agricultural microbial are extensively preferred by farmers across the globe.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Agricultural Microbial Market Trends and Drivers:

The shifting preferences toward sustainable agricultural practices to lower soil erosion, maintain soil quality, and preserve freshwater is primarily driving the agricultural microbial market. In addition to this, the growing awareness about the numerous benefits of the formulation, such as the decomposition of organic matter, improving crop health, recycling of old agricultural material, etc., is also positively influencing the global market. Moreover, the emerging trend of organic farming to reduce environmental pollution and emission of greenhouse gases is acting as another significant growth-inducing factor. Apart from this, the inflating investments undertaken by leading market players to introduce automated greenhouse facilities that offer innovative and technically advanced crop protection solutions and the increasing demand for liquid microbial products, on account of their ease of application, are further augmenting the market growth. Besides this, the rising product adoption to ensure nitrogen fixation and foster the growth of shoot and root are expected to propel the agricultural microbial market over the forecasted period.

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Agricultural Microbial Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of type, formulation, application method, function and crop type.

Breakup by Type:

• Bacteria
• Fungi
• Virus
• Others

Breakup by Formulation:

• Dry
• Liquid

Breakup by Application Method:

• Soil Amendment
• Crop Protection

Breakup by Function:

• Foliar Spray
• Soil Treatment
• Seed Treatment
• Others

Breakup by Crop Type:

• Cereals
• Oilseeds and Pulses
• Fruits and Vegetables
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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