LONDON, June 16, 2016 /PRNewswire/ -- The agricultural microbials market, was valued at USD 2.17 billion in 2015, and is projected to grow at a CAGR of 15.14%, to reach USD 5.07 billion by 2021. The market is driven by factors such as rising awareness about the usage of agricultural microbials over agrochemicals and increasing consumers' interest in organic products. The high growth potential in the Asia-Pacific region and untapped regions provide new growth opportunities for market players.
"Bacteria segment led the market with the largest share in 2015"
On the basis of type, the agricultural microbials market was led by the bacteria segment, followed by fungi and virus in 2015. The application of bacteria in agriculture has increased in terms of biofertilizers and biopesticides as these provide better results through a sustainable process. They help in nitrogen fixation, phosphate solubilization, iron sequestration, and phytohormone level modulation in crops. Bacteria thuringiensis led the bacteria segment in 2015 which are mostly naturally found in the soil.
"Fruits & vegetables led the agricultural microbials market on the basis of application in 2015"
The fruits & vegetables segment dominated the agricultural microbials market in 2015, followed by the others segment which include turf and plantation & ornamentals. Due to the increasing urban population and high consumption of fruits & vegetables in the world, the demand for exotic and tropical fruits & vegetables has increased, further boosting the agricultural microbials market.
"China: The future of the agricultural microbials market"
There are a large number of manufacturers and suppliers of agricultural microbials products in China offering products at very competitive prices. Along with the high demand of agricultural microbial products in the domestic and neighboring markets, Chinese manufacturers are increasingly exploring higher profitability and trade opportunities in western countries, especially in the North American and European regions. China is likely to increase its market share in the next five years by competing with the U.S., Germany, the U.K., and other European countries by offering low cost organic solutions with wide applicability.
China is expected to be the fastest growing country-level market during the forecast period, and accounted for the largest share in 2015.
Break-up of Primaries:
- By Company Type - Tier 1 – 50 %, Tier 2 – 20%, Tier 3 – 30%
- By Designation – C level – 28%, Director level – 22%, Others – 50%
- By Region – North America - 40%, Europe – 30%, Asia-Pacific – 21%, RoW –9%
Leading players profiled in this report:
- BASF SE (Germany)
- Dow AgroSciences LLC (U.S.)
- Sumitomo Chemical Co., Ltd (Japan)
- Monsanto Company (U.S.)
- Syngenta AG (Switzerland)
- Bayer CropScience AG (Germany)
- Koppert B.V. (The Netherlands)
Reasons to buy this report:
- To get a comprehensive overview of the global agricultural microbials market
- To gain wide ranging information about the top players in this industry, their product portfolios and key strategies adopted by them
- To gain insights about the major countries/regions in which the agricultural microbials market is flourishing
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