The Asia Pacific agricultural microbial market is estimated to reach a CAGR of 9.72% during the projected period of 2019-2020. One of the significant factors fueling the market growth is the growing awareness about organic farming in the region.
The Asia Pacific agricultural microbial market enhancement is further studied by segmenting the region into countries such as Japan, Australia & New Zealand, Vietnam, India, South Korea, Indonesia, China, Thailand, and the rest of Asia Pacific. The Indonesian market is growing in a stable manner, owing to the presence of major players in the region. Indonesia is primarily an agricultural country, and hence there is a high agrochemical demand in the country. In addition, the IPMP promotes prevention, tracking, and restrained use of pesticides in order to reduce toxicity levels in the crops. This has forced the farmers to shift towards organic-based products and bio-pesticides. In Thailand, agriculture is the major driving force for economic growth. Moreover, farmers are protecting crops with organic and sustainable techniques, which can provide food for all.
Vietnam’s market is witnessing positive growth, due to the growing demand for agricultural produce in the region. The use of chemical or synthetic based agrochemicals in agricultural land, human, animal, along with the environmental health concerns play a major role in propelling growth for safer products like biopesticides. In Australia, the use of biopesticides is applied to both native and introduced pests. However, the success depends upon the costs of production, the quality of the inoculum, and the field efficacy of the product. The rest of Asia Pacific, including Malaysia, Singapore, among others, consume a small amount, just 3% of the total agricultural microbial. The BCL at Chungnam National University conducts Bt screening, collection, and characterization.
Some of the prominent companies registering their presence in the market are UPL Corporation Limited, Koppert BV, Chr. Hansen Holding A/S, Certis USA LLC, Syngenta AG, etc.
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