The global agricultural microbial market for the use of fungi in agriculture was valued USD 401.6 million in 2016, at a CAGR growth of 19.1%. With around 40% of the global market share, North America is the largest market for agricultural microbial, followed by Europe and Asia-Pacific. Fastest-growth will be witnessed in Asia-Pacific is likely to grow at a CAGR of 20.59% and the second fastest growing market, South America, witnessing a CAGR of 19.92%.
Global Agricultural Microbial Market Major Key players: Basf Se, Bayer Cropscience, Arysta Lifescience Limited, Syngenta Ag, Certis Usa Llc, Chr. Hansen, Bioag Alliance (Monsanto/Novozymes), Marrone Bio Innovations, etc.
Global Agricultural Microbial Market By Type:
- Bacteria: Bacillus thuringiensis, Rhizobium, Bacillus subtilis, Others
- Fungi: Trichoderma Spp., Mycorrhiza, Others
- Virus
- Others
Global Agricultural Microbial Market By Function: Soil Amendment, Crop protection
Global Agricultural Microbial Market By Formulation: Dry Formulation, Liquid Formulation
Global Agricultural Microbial Market By Mode of Application: Soil Treatment, Foliar Spray, Seed Treatment
Global Agricultural Microbial Market By Application: Cereals & Grains, Oilseeds, Fruits & Vegetables, Others
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Popularity of Organic farming drives the market
Being less harmful than synthetic pesticides, microbial pesticides typically affect only the target pest and other organisms closely related to it. As conventional synthetic options become ineffective due to developing resistance, growers are more and more willing to try biological options. Consumer sentiments have, in no small way, contributed to growth of the agricultural microbial market.
Consumers have become more aware of products they consume and scrutinize the safety and quality of food products. Innovations in the area of microbial pesticides, coupled with a growing consumer awareness about the negative impact of synthetic pesticides, are expected to lead to increasing future adoption rates for these products
North America dominates the market share
The agriculture microbial products market of North America is estimate to be the largest with a market size of USD 950.34 million, in 2016, with a CAGR of 14.98%.More concern about organic labelled products and awareness of microbial pesticides efficiency has driven the market in North America. The market is expected to grow at a steady rate during the forecast period. United States holds the largest market with more than half of the North American market share. The United States market value is estimated to be USD 516.18 million in 2016 and registering a CAGR of 14.35%
Regions Covered in this report are as Follows:
United States, North America (Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa), RoW (Rest of World).
Key Developments in the Market
- September 2017, Bayer CropScience AG and Ginkgo Bioworks teamed up to focus on the development of plant microbiome for nitrogen fixation in plants
- May 2017, Inocucor technologies Inc. inked an agreement with Axter Agroscience Inc. to distribute Synergo, an agriculture microbial product in Canada.
Reasons to Purchase this Report:
- The report analyses how the stringent emission control norms will drive the global Agricultural Microbial market.
- Analyzing various perspectives of the market with the help of Porters five forces analysis.
- Study on the product type that is expected to dominate the Agricultural Microbial Market.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major players of Agricultural Microbial Market.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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SOURCE The Financial Consulting https://thefinancialconsulting.com/
