The agricultural microbials market refers to the use of microorganisms, such as bacteria, fungi, and viruses, for agricultural purposes, including crop protection and enhancement, soil fertility improvement, and plant growth promotion. These microorganisms can be applied as biopesticides, biofertilizers, and biostimulants.
The global agricultural microbials market has been growing in recent years due to the increasing demand for sustainable agricultural practices and the need to reduce the use of synthetic chemicals in agriculture. The market is expected to continue to grow in the coming years, driven by factors such as the growing awareness about the benefits of agricultural microbials, the increasing demand for organic food, and the rising adoption of precision agriculture.
The global agricultural microbials market is poised for significant growth in the next few years, with projections indicating that it will generate a revenue of USD 12.6 billion by 2027. This represents a CAGR of 14.6% from 2022 to 2027, reflecting a strong demand for sustainable and environmentally-friendly agricultural practices.
Some of the major trends in the Agricultural Microbials Market:
Increasing Demand for Sustainable Farming Practices: The global shift towards sustainable farming practices is driving the demand for agricultural microbials. Farmers and growers are looking for ways to reduce their reliance on synthetic chemicals and fertilizers, and microbials offer an eco-friendly alternative that can help improve soil health, increase crop yields and quality, and reduce the environmental impact of farming.
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Growing Demand for Organic Food: As consumers become more health-conscious and environmentally aware, the demand for organic food is increasing. Agricultural microbials are an essential component of organic farming, and the rise in demand for organic food is driving the growth of the agricultural microbials market.
Advancements in Biotechnology: Advances in biotechnology are enabling the development of new and innovative agricultural microbials that can target specific pests and diseases, improve plant growth and nutrient uptake, and enhance soil health. This is leading to a wider range of options for farmers and growers, and driving the growth of the agricultural microbials market.
Increasing Adoption of Precision Agriculture: The use of precision agriculture techniques, such as precision planting and precision irrigation, is increasing. Agricultural microbials are a key component of precision agriculture, as they can be targeted to specific areas of the field and applied in precise quantities. This is leading to increased demand for agricultural microbials that are compatible with precision agriculture techniques.
Government Support for Sustainable Agriculture: Governments around the world are increasingly supporting sustainable agriculture practices through policies and funding initiatives. This is creating a favorable regulatory environment for the agricultural microbials market and driving the growth of the sector.
North America holds 5% of global organic agricultural land but has one of the largest markets for organic products, with agricultural produce accounting for 39% of US organic food sales in 2020. The usage of microbials, including biopesticides, is a major contributor to this. The degradation of soil quality in the US due to synthetic fertilizer overuse has led to the exploration of environmentally friendly alternatives, such as rhizobium-legume symbioses for nitrogen fixation. Inoculants of rhizobial are frequently used as biofertilizers in various crops. The specificity of microbial insecticides and fungicides toward pests and fungus drives the market for microbial pesticides in the US, where 27 insect pests are resistant to synthetic insecticides. The increasing population of insect-resistant pests is a major problem faced by US agricultural growers, thereby fueling the demand for bioinsecticides.
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