MarketAs stated in our extensive report which provides insights on market segments such as type, function, formulation, and mode of application, the Global Agriculture Microbial Marketaccounted for USD 6.12 Billion in 2020.
Various microbes including fungi, bacteria, and viruses are helping the farmers to benefit from crop protection and increase soil fertility. Soil microbes such as fungi and bacteria are essential to gain soil fertility as they are essential for decomposing organic matter in the soil. For instance, some of the plant microbes provide essential nutrients such as nitrogen and phosphorus which are helpful for soil. Similarly, fungi provide benefits such as improving heat tolerance resistance to insects and plant diseases.
Global agriculture is expected to double by 2030 in order to feed the world’s growing population. This can be achieved if there is an urgent need to harness the multiple benefits that occur between crops, soil, and microbial organisms. The advantages that influence by microorganisms on plant growth include nitrogen fixation, acquisition, and uptake of major nutrients to promote and increase root growth. To control and improve soil structure, some of the commonly promoted microbial help to improve the soil fertility, and increase its productivity. These are some of the factors that will increase the agricultural microbial market worldwide.
Moreover, the COVID-19 pandemic showed a major setback in the agricultural microbial industry and this had a huge impact on the market. Many companies were almost stagnant due to stringent government policies imposed. Transportation facilities were at a halt for maintaining social distance norms and employees were not able to go to work due to insufficient traveling facilities. These were the few most important points that impacted the market growth during the COVID-19 pandemic.
The emerging economies of the Asia Pacific such as India, China, Indonesia, and Thailand among others are expected to fuel the growth of the agriculture microbial market. Increasing activities related to enhancing food quantity, and high productivity are concerning the government authorities in the Asia Pacific region. Countries such as China and India are providing subsidies to increase agricultural microbial such as fungi and bacteria especially in rural areas; these decisions are taken by government authorities which will indirectly drive the requirement for agriculture microbial market. The Middle East & Africa, Europe, and North America will also show rapid development in the agriculture microbial market especially due to the rapid adoption of microbes such as rhizobia, mycorrhizae, azospirillum, bacillus, pseudomonas, Trichoderma, Streptomyces species, and many more to cultivate crops.
Some of the key players in theagriculture microbial marketare includes,BASF SE, Certis USA LLC, Bayer Cropscience AG, Marrone Bio Innovations Inc., Sumitomo Chemical (Valent BioSciences LLC), UPL Limited (Arysta Lifescience Limited), Syngenta AG, Hansen Holdings AS, IsAgro SpA, Koppert BV.