Agriculture Microbials Market projected to grow with significant CAGR over the forecast period
Agriculture Microbials Market projected to grow with significant CAGR over the forecast period
Overview of the Agriculture Microbials Market
Naturally occurring microorganisms such as some specific bacteria and fungi can be used for plant protection and their production. These microbes can improve the soil texture, improve plant growth and yield and also supply important nutrients like nitrogen and phosphorus to plants. When sprayed on plants or applied to seeds, they prevent the outburst of weeds, insects, bacteria, fungi etc.
Drivers and Constraints of the Agriculture Microbials Market
Factors like frequent crop diseases, pressure to meet the food demand of increasing population, demand for quality foods, high cost of agrochemicals, and ability of these microbials to provide the required protection to plants will act as growth drivers. Also, favourable regulations and more adoption of organic farming will further support this growth.
On contrary, factors like unawareness about microbial products, their short shelf life and fast decomposition due to a minor change in the environmental conditions are likely to act like constraints.
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Agriculture Microbials Market- Segmentation
The agriculture microbials market can be broadly segmented on the basis of microbe type, mode of application, microbial functions, and geography.
On the basis of microbe type, the market can be segmented as:-
• Bacteria
• Virus
• Protozoa
• Fungi
On the basis of mode of application, the market can be segmented as:-
• Seed treatment
• Soil treatment
• Foliar
On the basis of functions of the microbe, the market can be segmented as:-
• Crop protection
• Soil amendment
On the basis of the crop type, the market can be segmented as:-
• Vegetables and fruits
• Cereals and grains
• Oilseeds and pulses
• Others
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Region Wise Analysis of the Agriculture Microbials Market
On the basis of regions, the agriculture microbials market can be segmented into five important regions. They are:-
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa
North America is likely to share the highest revenue, mainly due to factors like - increase in fruits and vegetable production in US and Canada, inclination towards eco-friendly agricultural practices, higher cost of conventional chemical based pesticides and fertilizers and fast adoption of agriculture microbes.
Again, in Europe other than the above mentioned factors, intense R & D activities by major players in the region likely to boost the growth for agriculture microbials market.
Agriculture being the primary economic activity, makes Asia-Pacific a very favourable place for agriculture microbials market growth. However rising awareness about agriculture microbials and more and more adoption of such products by farmers will boost the growth further.
Agriculture Microbials Market – Key Players
• BASF SE (Germany)
• The Dow Chemical Company (U.S.)
• Novozymes A/S (Denmark)
• Sumitomo Corporation (Japan)
• Bayer CropScience AG (Germany)
• Wilbur Holdings, Inc. (U.S.)
• Ginkgo Bioworks (U.S.)
• Syngenta AG (Switzerland)
• Inocucor technologies Inc. (U.S.)
• Axter Agroscience Inc. (Canada)
• Koppert B.V. (Netherlands)
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Agriculture Microbials Market – Recent Developments
• September, 2017 - Bayer CropScience AG teamed up with Ginkgo Bioworks to develop plant microbiome for nitrogen fixation in plants.
• May, 2017 – Agreement between Inocucor technologies Inc and Axter Agroscience Inc for distribution of Synergo in Canada.
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