Agricultural Microbials Market worth USD 5.07 bn by 2021

Wednesday 8 June 2016, Amsterdam

The report, now available on ASDReports, "Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, Protozoa), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Function, & by Region - Global Trends & Forecast to 2021", is projected to reach a value of USD 5.07 Billion by 2021, at a CAGR of 15.14% from 2016 to 2021. The market is driven by factors such as rising awareness about the usage of agricultural microbials over agrochemicals and increasing consumers’ interest in organic products.

The bacteria segment is projected to be the fastest-growing market during the period 2016–2021.

Bacterial agricultural microbials are helpful to the crops in a way that they detoxify the soil and fight the root diseases and provide stability to the soil system. They help in nitrogen fixation, phosphate solubilization, iron sequestration, and phytohormone level modulation in crops. Due to these factors, the bacterial segment dominates the agricultural microbials market.

Fruits & vegetables are the major crop types of application in the agricultural microbials market

Fruits & vegetables accounted for the largest share of the crop type application of agricultural microbials in 2015. With the increasing consumption of fruits & vegetables and increasing demand for tropical and exotic fruits & vegetables in the developing countries globally, this segment is likely to witness growth during the forecast period. The others segment that includes turf & ornamental crops, accounted for the second-largest share in 2015.

North American region dominated the agricultural microbials market in 2016

The North American region was the largest market for agricultural microbials in 2015. Countries such as the U.S., Canada, and Mexico are the major producers of fruit & vegetable crops. Rise in organic & environment-friendly farming practices has increased the demand for agricultural microbials, especially in the U.S. The market in Canada is driven by the rise in cost of fertilizers & pesticides, which has in turn led to high usage of agricultural microbials. Brazil and Argentina are also the active countries for agricultural microbials usage. Asia-Pacific countries are at the growth stage in this market. China is the major country followed by India, Australia, and Indonesia.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as BASF SE (Germany), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Co., Ltd (Japan), Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer CropScience AG (Germany), and Koppert B.V. (The Netherlands).