Global Agricultural Microbials Market: Synopsis
The report published by Market Research Future (MRFR) states that the global agricultural microbials market is marked to exhibit noteworthy expansion during the forecast period of 2017-2023. Agricultural microbials are organisms that aid in improving the soil quality, leading to increased productivity and crop quality on the farmland. Increasing preference of organic food that is grown using environment-friendly farming practices is majorly fueling the growth of the global agricultural microbials market during the forecast period. Rise in awareness regarding the harmful effects caused on environment due to excess use of agrochemicals and initiative towards improving the fertility of soil are propelling the expansion of the global agricultural microbials market. However, low shelf life of these products is restraining the growth of the global agricultural microbials market.
Global Agricultural Microbials Market: Segmental Analysis
The global agricultural microbials industry has been segmented on the basis of type, function, and application. Based on type, the global agricultural microbials market has been segmented into bacteria, fungi, viruses, protozoa, and others. Among these, the bacteria segment is projecting dominance over the global agricultural microbials market followed by fungi segment due to its extensive utilization in the agricultural sector for improving the stability of soil system and combating various root diseases.
Based on function, the global agricultural microbials market has been segmented into crop protection, soil improvement, and others. The soil improvement segment commands the major share of the global agricultural microbials market owing to its increased utilization for improving the quality of soil for optimum productivity.
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Global Agricultural Microbials Market: Regional Analysis
Geographically, the global agricultural microbials market has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The Asia Pacific region commands the maximum share of the global agricultural microbials market analysis owing to the increased government support for improving the productivity of farmlands, high preference of organic farming and rise in demand for food as a result of rapid population growth in this region. The agricultural microbials market in the North America region commands the second largest share of the global agricultural microbials market owing to the rapidly increased demand for organic farming as a result of increased popularity and consumption of organic vegetables, fruits and grains and bolstering demand for environmental friendly agricultural products that will improve the yield quality and productivity of farmlands without causing any adverse effect on the surrounding environment in this region.
Global Agricultural Microbials Market: Competitive Analysis
Some of the prime players profiled by Market Research Future (MRFR) that are operating in the global agricultural microbials market are Syngenta AG (Switzerland), BASF SE (Germany), Novozymes A/S (Denmark), Dow AgroSciences LLC (the U.S.), Sumitomo Chemical Company, Ltd. (Japan), Nufarm Ltd. (Australia), Bayer CropScience AG (Germany), Koppert B.V. (the Netherlands), Certis U.S.A. LLC (the U.S.), and Monsanto Company (the U.S.). The players in the global agricultural microbials market are increasing their investments for research and development in order to introduce innovative products for expanding their businesses in the global market. For instance, in January 2019, Dudutech, a leading biological pest control products manufacturer and supplier, has announced that it will set up shops in Tanzania which will include the portfolio of beneficial mites and fungi that are used to protect crops against root-knot nematodes, red spider mites, and others.
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