Agricultural Microbial Market Outlook – 2030
Agricultural microbial market is expected to witness rapid growth in the future. Agricultural microbial refers to the microorganisms used in agriculture to enhance crop productivity and quality of yield. Microbial inoculants used in agriculture have target specific functions, and thus, are suitable for use in various crops. Agricultural microorganisms are the naturally occurring substances such as molds and bacteria that also supply nutrients such as phosphorous and nitrogen to plants. Microbes live in the soil and have close association with plants and together, they form microbiomel. Microbes include bacteria, fungi, virus, and protists among others. They can boost growth of the plant as by improving access to supplements. Many microbes are beneficial as they can help in decomposition of organic matter, recycling of old agricultural material, offer phosphorus or nitrogen as nutrients and provide benefits such as heat and drought tolerance along with resistance to insects and plant diseases. Agricultural microbials could prove to be essential for holistically improving plant health and enhancing crop productivity through economical solutions while controlling disease outbreak, bettering soil health condition, and refining the nutrient transportation process. The increasing awareness about the benefits of using agricultural microbials is expected to increase the agricultural microbials market demand. Agricultural microorganisms such as bacteria, viruses, and fungi enhance plant growth and protection and improve soil conditions.
COVID-19 Impact Analysis
- The COVID - 19 pandemic affected the growth of the agricultural microbial market and saw a decline due to the pandemic the supply chains around the globe were disrupted leading to an inadequate supply of microbial to farmers in need.
- The pandemic caused a nationwide lockdown and restrictions on the movement and gathering of people which led to a decline in agricultural activities, thus, reducing the demand for microbial.
- Market closure and restricted movement due to the lockdown caused interrupted food service in the market which led to negative demand of the agricultural microbial.
- The transportation activities were affected due to lockdown and interrupted the raw material supply thus negatively impacting the agricultural microbial market.
- The COVID-19 made people aware and move toward healthier diet which had a positive impact on the agricultural microbial market. This helped to increase the demand of biopesticide products, which are more sustainable and healthy agricultural products.
- With lockdown restriction uplifted and food services, transportation activities running at full capacity the market of agricultural microbial is expected to grow at a great pace.
Top Impacting Factor
The growing need to feed an ever-growing global population, coupled with the increasing demand for sustainable agricultural practices and the concern of the general public over environmental safety is one of the leading drivers for the agricultural microbial market. An increase in urbanization and less availability of arable land are motivating farmers to adopt efficient crop-protection techniques. There has been a broader acceptance and recognition of the increasing benefits of microbial products. With the amount of arable land per person declining and the expansion of population, global crop yields must increase to meet the food production needs. As a result, an increase in the demand for microbial products and agricultural production is being witnessed. The high demand for microbial to achieve sustainable crop intensification is expected to favor market growth. However, the lack of awareness and low commercialization of biologicals has hampered the agricultural microbial market. Agricultural microbial have high application cost and due to delayed effects of microbial inoculants as compared to conventional chemical agrochemical the use of agricultural microbial is restricted. The storage-stability of microbial hinders their effective utilization as they have low on-seed survival rates. Hence, the farmers often refrain from using microbes. The promising growth potential of organic agriculture practices is anticipated to provide opportunity to the growth of the agricultural microbial. This is also expected to drive natural plant growth regulators and crop protection products in the forthcoming years. The benefit of organic farming on health of user and the growing awareness about organic farming is expected to provide opportunity for agricultural microbials.
- In March 2020 a new automated greenhouse facility was developed in Marana, Arizona, U.S., by Bayer CropScience, for providing growers with the most innovative, sustainable, and technically advanced agricultural solutions, focusing on crop protection solutions.
- In January 2020 BASF SE, for its Agricultural Solutions business in Singapore, developed a multipurpose facility designed to handle six different formulation technologies and supply the company's patented crop protection products to farmers across the fast-growing Asia Pacific region.
- In October 2019, Bayer CropScience launched its latest biological innovations, collectively known by the brand name, Biologicals, by Bayer at 2019 Annual Biocontrol Industry Meeting (ABIM).
- In April 2020, Sumitomo Chemicals invested $30 million into a joint venture with Conagen, a U.S. biotechnology company. Through this, the company aimed to promote its strategic business alliance with Conagen further and develop innovative high functional products and processes by way of innovative use of biologicals.
- Agricultural biotechnology company AgBiome discovers solutions to combat problem of damage of crops due to pests and diseases. Based on a large and expanding core collection of fully sequenced microbes from the plant-soil microbiome, this problem can be solved. Using the innovative platform, both the microbes and their genome sequences are employed in the discovery of new traits and biological products for disease and pest control in crops.
Key Benefits of the Report
- This study presents the analytical depiction of the Agricultural Microbial market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Agricultural Microbial market share.
- The current market is quantitatively analyzed to highlight the Agricultural Microbial market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Agricultural Microbial market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Agricultural Microbial Report
- Who are the leading market players active in the Agricultural Microbial market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Agricultural Microbial Market Report Highlights
By Application Method
Key Market Players
AgBiome LLC, Koppert B.V., Sumitomo Chemical Company, Ltd., BASF SE, Bayer CropScience AG, Nufarm Ltd., Novozymes A/S, Syngenta AG, Dow AgroSciences LLC, Mitsubishi Shoji Foodtech Co., Ltd.