The agricultural microbials market is projected to grow at a CAGR of 14.21%
The agricultural microbials market is projected to grow at a CAGR of 14.21%.
LONDON, April 10, 2018 /PRNewswire/ -- The agricultural microbials market is projected to reach USD 6.01 billion by 2022, from USD 3.09 billion in 2017, at a CAGR of 14.21%. The agricultural microbials market is projected to grow at an exponential rate due to factors such as the rise in demand for sustainable agricultural practices, favorable government regulations, increase in demand for high-value crops, and rise in the number of investments from key players in this market. The major factors restraining the growth of agricultural microbials are the shorter shelf-life, field persistence, and storage conditions of microbial pesticides.
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The crop protection segment is projected to be the fastest-growing from 2017 to 2022.
Crop protection is the major function targeted by larger companies in the agricultural microbials market.The hazards caused to the environment by chemical pesticide residues can be alleviated with the help of microbial pesticides.
Phasing out of highly toxic pesticides in regions such as Europe and Asia Pacific has proven to be a major driver for the microbial crop protection solutions market, and has opened new avenues for the introduction of less toxic microbial pesticide products.
The fruits & vegetables segment is estimated to dominate the market in 2017.
The market for the use of agricultural microbials in fruit & vegetable cultivation is estimated to dominate the global market in 2017.The global production of fruits and vegetables has increased and so has the stringency of regulations pertaining to pesticide residue on the food.
Also, standard agricultural practices have been set for the produce to qualify for better price grades, which includes better quality with respect to size, color, and sugar content; prevention of fruit drops; and enhanced ripening.The use of agricultural microbials results in an increase in fruit size, early growth, better shelf-life, higher yield, reduced pest infestation, and improved antioxidant activity.
Thus, agricultural microbials help in compliance with the domestic regulations, export standards, and improve the salability of the product.
North America is estimated to dominate the agricultural microbials market in 2017.
The North American market for agricultural microbials is driven by the simple registration process, increase in consumer preference for organic products, and growth in consumer perception about the ill-effects of synthetic pesticides on human health.The market for agricultural microbials in the European region is projected to grow at the highest CAGR from 2017 to 2022.
The ban on the use of neonicotinoids, glyphosate, and paraquat is expected to drive the growth of the European agricultural microbials industry.
The breakdown of the primaries on the basis of company type, designation, and region conducted during the research study, is as follows:
• By Company type: Tier 1 - 55%, Tier 2 - 30%, and Tier 3 - 15%
• By Designation: C-Level - 40%, D-Level - 20%, and Others* - 40%
• By Region: North America - 20%, Europe - 30%, Asia Pacific - 35%, and RoW - 15%
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1: Revenue >= USD 1 billion; Tier 2: USD 100 million< Revenue< USD 1 billion; Tier 3: Revenue =< USD 100 million
The global market for agricultural microbials is dominated by large players such as BASF (Germany), Bayer (Germany), Monsanto BioAg (US), BioWorks (US), DowDuPont (US), Syngenta (Switzerland), and Certis (US). Some emerging players in the agricultural microbials market include Marrone Bio Innovations (US), Koppert (Netherlands), Arysta LifeScience (US), Valent BioSciences (US), and Isagro (Italy).
Research Coverage
The report analyzes the agricultural microbials market across different types and regions.It aims at estimating the market size and future growth potential of this market across different segments such as type, function, crop type, mode of application, formulation, and region.
Furthermore, the report also includes in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall agricultural microbials market and its subsegments.This report will help stakeholders to better understand the competitor landscape, gain more insights to better position their businesses, and devise suitable go-to-market strategies.
The report will also help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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