17th May 2019 - 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.
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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.
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.
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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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