A new market research report by Transparency Market Research, titled “Agricultural Microbials Market – Global Industry Analysis, Size, Share, Trends and Forecast 2015 – 2023,” presents a comprehensive evaluation of the agricultural microbial market and encapsulates statistically-backed and industry-validated data, insights, and thoughtful facts on the market. The study also presents predictions by employing an accurate set of assumptions and methodologies. Detailed evaluation and information on the market has also been presented in terms of market segmentation. Furthermore, a comprehensive analysis of the market attractiveness, parent market trends, and macro-economic indicators has been presented utilizing this study.
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The report states that a number of beneficial microbes such as fungi and bacteria are primarily employed in agricultural practices owing to the fact that they help in the decomposition of organic matter and aid in preventing plant-related diseases. In addition, agricultural microbials also aid in the development of plants by providing essential nutrients such as phosphorous and nitrogen. Hence, agricultural microbial products present cost-effective and sustainable solutions in order to enhance plant yield, irrespective of the geographies where plants have been planted.
As stated in the report, the growing food demand globally is predicted to fuel the growth of the market for agricultural microbials in the coming years. In addition, supportive financial and regulatory government policies and the eco-friendly farming practices will provide impetus to the growth of this market. Furthermore, the increasing occurrence of crop diseases globally will also positively impact the development of this market. The growing employment of cutting-edge production practices that do not negatively impact the crop yield will further increase the adoption of agricultural microbials.
Next, the segmentation of the market for agricultural microbials is presented. In terms of type, the market can be segmented into fungi, bacteria, virus, and protozoa. By crop type, the market can be categorized into oilseeds and pulses, cereals and grains, fruits and vegetables, and others including plantation crops, forage, and turf and ornamental. By mode of application, the market can be segmented into soil treatment, seed treatment, and others. By function, the market can be segmented into crop protection and soil amendment.
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Geographically, the report categorizes the global agricultural microbials market into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, North America is predicted to emerge as the leading agricultural microbials market due to growing demand for organic food in this region. Europe will trail North America and will take the second position in the market in the coming years.
Monsanto, Bayer CropScience AG, BASF SE, Sumitomo Chemical Co., Ltd., Syngenta AG, Novozymes, and Arysta LifeScience Limited, among others, are the chief players in the global agricultural microbials market, as per this study.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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