Agriculture Microbial Market Trends: Size, Share, Growth, and Forecast 2030
Preliminary research conducted by Fairfield Market Research has indicated a highly promising growth outlook for the global agriculture microbial market over the next few years. The market’s expansion is being driven by several key factors, including the increasing demand for sustainable farming practices to meet the rising global population’s food needs, the need for more efficient crop yielding techniques due to urbanization and limited arable land, and growing awareness of the negative effects of synthetic fertilizers.
Rising Food Demand to Complement Growth of the Agriculture Microbial Market
Agriculture microbials offer numerous advantages such as enhancing nutrient uptake, supporting organic cultivation, and increasing crop yields. With the global population projected to surpass 9 billion by 2050, there is a growing pressure on the agriculture sector to meet the rising demand for food. Additionally, urbanization has reduced the availability of arable land, prompting farmers to turn to highly efficient crop-yielding techniques, which further drives the demand for agriculture microbials. The increasing awareness of the adverse effects of synthetic fertilizers is also boosting the market as farmers seek eco-friendly alternatives to enhance sustainable agriculture production.
Rising Research and Development Activities to Augment Agriculture Microbial Market Expansion
To meet the demand for sustainable agriculture and capitalize on the benefits of agriculture microbials, companies are heavily investing in research and development activities. They are expanding their biological portfolios through both inorganic and organic strategies. Examples include BASF SE’s establishment of a multipurpose facility in 2020 and collaborations like the one between BASF and Vipergen in 2021 to develop novel active ingredients for sustainable crop protection products. Such R&D initiatives are expected to further propel the growth of the agriculture microbial market in the coming years.
Rising Use of Bacteria in Agriculture to Promote Plant Health
The utilization of bacteria in the production of biopesticides, bio-stimulants, and biofertilizers has been on the rise, thanks to their growth-promoting functions in crops and their protective properties against root fungus diseases. This trend is expected to contribute significantly to the revenue growth of the agriculture microbial market.
North America Likely to Hold a Dominant Share, Asia Pacific to Follow Suit
Developed nations in North America are expected to exhibit significant growth potential in the agriculture microbial market. Factors such as the need for high-quality crop production, modern agriculture practices like precision farming, and increasing organic farming activities are driving growth in this region. The United States and Canada have seen substantial growth in organic farmland, further boosting the demand for agriculture microbials.
In contrast, developing economies in the Asia Pacific, including India, China, and Vietnam, are also expected to play a crucial role in the market’s growth. These countries are witnessing increasing concerns about malnutrition and a growing demand for food. The expansion of organic farmland and supportive government policies in the region are creating opportunities for the agriculture microbial market.
Agriculture Microbial Market: Competitive Scenario
The market is witnessing a flurry of activity in terms of new product launches, collaborations, acquisitions, partnerships, and alliances among key players. Notable examples include AgBiome and BASF’s agreement to develop new biological fungicides for European and MEA regional markets, Syngenta Group’s acquisition of Valagro to bolster its bio-stimulants portfolio, and the collaboration between UPL and Chr. Hansen to develop microbial-based solutions for pest control and crop enhancement.
Leading players in the global agriculture microbial market include BASF SE, Certis USA LLC, Valent BioSciences LLC, Bayer Cropscience AG, Novozymes, Andermatt Biocontrol AG, FMC Corporation, Corteva Agriscience, and Marrone Bio Innovations Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/agriculture-microbial-market
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This press release first seen on Brilad