Agricultural Microbials Market is Expected to Grow Owing to Shifting Trend Towards Organic Farming by 2028 | Million Insights
FELTON, California, Feb. 6, 2019 /PRNewswire/ -- The global agricultural microbials market is expected to display higher growth rate over the forecast period. Rapid surge in the market is credited to the shifting trend towards organic farming. Use of microbial technologies to improve overall agriculture yields is expected to drive the growth of the market over the forecast period.
Development of different programs involving microbial field testing is anticipate to favor industry progress over the coming years. Globally, market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of agricultural microbials market.
Numerous initiatives and support provided by governments in different countries for modernization of agriculture is estimated to aggravate market value of agricultural microbials over the forecast period. To increase production value and achieve higher profits in short duration of time, leads to applying modern techniques in farming resulting in a significant growth in agricultural microbials market is expected in the upcoming years. Increasing use of agricultural microbial for wastewater treatment and recycling of agricultural and industrial wastes are the key market trend associated with agricultural microbials industry.
Agricultural microbials are currently used to enhance crop productivity, plant health protection, and soil health maintenance. Additionally, agricultural microbials are critical for dealing with environmental issues involving bioremediation of soil and water treatment. Agricultural microbials can separate organic and inorganic pollutants. Recycling of agricultural and industrial wastes is one of the key application of agricultural microbials. Agricultural microbials helps plant growth by carrying out bioremediation, biodegradation, and bio-sorption processes.
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The market is broadly categorized into major segments based on the type of crop such as cereals & grains, oilseed & pulses, and fruits & vegetables. Cereals & grains segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of agricultural microbials in cereals & grains segment is attributed to the growing focus towards crop protection.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in organic farming sector, surge in number of research & development activities and existence of well-established agriculture infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth due to the stringent laws against excessive use of chemicals and shifting trend towards organic farming.
Asia-Pacific region is estimated to hold a major share in the agricultural microbials industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing focus towards adoption of modern technology in farming to produce high yield and demand of quality food and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the agricultural microbials market are The Monsanto Co., Bayer CropScience AG, Syngenta AG, BASF SE, Arysta LifeScience Ltd., Sumitomo Chemical Co., Ltd., and Novozymes A/S.
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Market Segment:
- Leading players of Agricultural Microbials including:
o Bayer Cropscience
o Novozymes
o BASF
o Sumitomo Chemical
o DOW Agrosciences
o Syngenta
o Arysta Lifescience
o Certis
o Koppert
o Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
- Market split by Type, can be divided into:
o Bacterial
o Fungal Microbials
o Composite Microbials
o Others
- Market split by Application, can be divided into:
o Seed
o Soil
o Others
- Market split by Sales Channel, can be divided into:
o Direct Channel
o Distribution Channel
- Market segment by Region/Country including:
o North America (United States, Canada and Mexico)
o Europe (Germany, UK, France, Italy, Russia and Spain etc.)
o Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
o South America Brazil, Argentina, Colombia and Chile etc.)
o Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
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