Preliminary research of Fairfield Market Research indicates a promising growth outlook for global agriculture microbial market during the course of next few years.
Rising Food Demand to Complement Growth of the Agriculture Microbial Market
Agriculture microbials provide various advantages such as facilitating nutrient uptake, organic cultivation and increased yield of crops. Moreover, increasing population has triggered the need for sustainable farming thus driving the demand for agriculture microbials that improve yield productivity. According to the Food and Agriculture Organization of the United Nations, by 2050 the global population count is expected to cross 9 billion, thus escalating the pressure on agriculture sector owing to rise in food demand. In addition, rise in urbanization has resulted in less availability of arable land for farming. This has pushed farmers to opt for highly efficient crop yielding techniques in the available farming land. This factor continues to influence the uptake of agriculture microbials for crop intensification or increase per acre yield. Furthermore, rising awareness regarding ill effects of synthetic fertilizers has fuelled the demand for organic counterparts, in turn boosting the growth of the agriculture microbial market. Under this awareness influence farmers are considering agriculture microbials as biological alternatives to boost sustainable agriculture production, thus closing the yield gap and meeting the food demand on the global front. Thus, rising food demand coupled with cost effective and eco-friendly nature of microbials is expected to bolster market growth.
Rising Research and Development Activities to Augment Agriculture Microbial Market Expansion
On the back of growing demand for sustainable agriculture and rising awareness of benefits of agriculture microbials, companies have been investing in research and development activities. Companies are focused on expanding their biological portfolio by adopting inorganic and organic strategies. For instance, BASF SE established a multipurpose facility specially designed to accommodate 6 formulation techniques in 2020. This multipurpose facility will provide BASF’s crop protection products across the Asia Pacific. In 2021, BASF, and Vipergen collaborated to discover novel active ingredients by using technology that can be used in production of sustainable crop protection products. Such research and development activities are likely to support the growth of the agriculture microbial market in the forthcoming years.
Rising Use of Bacteria in Agriculture to Promote Plant Health to Favour Agriculture Microbial Market Growth
There has been a rise in the use of bacteria in the production of biopesticide formulations, bio-stimulants and biofertilizers. This is mainly owing to the growth promoting functions performed by the bacteria in crops. In addition, they also act as protective agents against root fungus disease thus facilitating improved plant health. In this backdrop, increasing adoption of bacteria is expected to bode well for the revenue growth of the agriculture microbial market.
North America Likely to Hold a Dominant Share in Agriculture Microbial Market, Asia Pacific to Follow Suit
Developed nations in North America are likely to showcase significant growth potential in the agriculture microbial market. Increasing need for high production of crops and yield productivity with high quality coupled with evolving modern agriculture practices such as precision agriculture are few of the crucial factors influencing the market growth in the region. In addition, sales of agriculture microbial products continue to witness an upswing on the back of growing demand for environment friendly and organic farming practices. Rise in the organic farming activities have significantly influenced the demand of agriculture microbials across countries such as Canada, and United States. For instance, according to Research Institute of Organic Agriculture (FiBL), in 2020, more than 3.7 million hectares of the farmland in the region was organic farmland. Of this, United States represented 2.3 million hectares and about 1.4 million hectares of the farmland was in Canada. That said, with a highly evolved agricultural industry along with inclination towards adapting organic means of farming backed by rising awareness apropos to balanced crop nutrition has accelerated the growth of the agriculture microbial market in the region.
On the other hand, developing economies in Asia Pacific are poised to reflect high attractiveness in the agriculture microbial market. This is mainly owing to rising concerns regarding malnutrition and high food demand in countries such as India, China, and Vietnam among others. Although agriculture has been one of the most dominant sectors in these countries, the need for advanced agricultural practices and activities has been increasing to meet the growing demand for food. Like North America, the growth of the market in the Asia Pacific region is influenced by the increasing area of organic farmland. For instance, according to FiBL, in 2020 the organic farmland in Asia was over 6.1 million hectares lead by India and China with 2.7 million hectares and 2.4 million hectares respectively. Furthermore, favourable government policies have accelerated the growth in the agriculture sector, in turn paving potential avenues for the agriculture microbial market.
Agriculture Microbial Market: Competitive Scenario
New product launches, collaborations, acquisitions, partnerships, and alliances have been witnessed in the agriculture microbial market. Key companies have been leveraging such strategies to gain competitive advantage. For instance, in March 2021, AgBiome and BASF signed an agreement with a view to develop and introduce new biological fungicides for the European and MEA regional markets.In 2020, Syngenta Group acquired Valagro to complement its bio-stimulants portfolio and its future pipeline of different biological solutions. In 2021, collaboration was signed between UPL and Chr. Hansen to develop various microbial-based solutions including bio-pesticides and bio-stimulants to fight pests alongside enhancing crop yield and quality. In January 2022, MeloCon LC along with Purpureocilium lilacinum strain 251, an active ingredient was launched by Certis Biologicals.
A few of the major players in the global agriculture microbial market include BASF SE, Certis USA LLC, Valent BioSciences LLC, Bayer Cropscience AG, Novozymes, Andermatt Biocontrol AG, FMC Corporation, Corteva Agriscience, and Marrone Bio Innovations Inc.
Global Agriculture Microbial Market is Segmented as Below:
Regional Classification of Global Agriculture Microbial Market Can be Given as Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Agriculture Microbial Market
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