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Agricultural Microbial Market Latest Trends, Demands and Huge Business Opportunities 2019 to 2023

Agricultural Microbial Market 2019 Size, Trends, and Application with Top Key Players

The global agricultural microbial market for the use of fungi in agriculture was valued USD 401.6 million in 2016, at a CAGR growth of 19.1%. With around 40% of the global market share, North America is the largest market for agricultural microbial, followed by Europe and Asia-Pacific. Fastest-growth will be witnessed in Asia-Pacific is likely to grow at a CAGR of 20.59% and the second fastest growing market, South America, witnessing a CAGR of 19.92%.

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Competitive Landscape

The global Agricultural Microbial market is consolidated, with top players accounting for the major share of the market demand. The top market players include Basf Se, Bayer Cropscience, Arysta Lifescience Limited, Syngenta Ag, Certis Usa Llc, Chr. Hansen, Bioag Alliance, Marrone Bio Innovations and Others.

Scope of the Report

Popularity of Organic farming drives the market

Being less harmful than synthetic pesticides, microbial pesticides typically affect only the target pest and other organisms closely related to it. As conventional synthetic options become ineffective due to developing resistance, growers are more and more willing to try biological options. Consumer sentiments have, in no small way, contributed to growth of the agricultural microbial market.

Consumers have become more aware of products they consume and scrutinize the safety and quality of food products. Innovations in the area of microbial pesticides, coupled with a growing consumer awareness about the negative impact of synthetic pesticides, are expected to lead to increasing future adoption rates for these products.

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Key Market Trends

North America dominates the market share

The agriculture microbial products market of North America is estimate to be the largest with a market size of USD 950.34 million, in 2016, with a CAGR of 14.98%.More concern about organic labelled products and awareness of microbial pesticides efficiency has driven the market in North America. The market is expected to grow at a steady rate during the forecast period. United States holds the largest market with more than half of the North American market share. The United States market value is estimated to be USD 516.18 million in 2016 and registering a CAGR of 14.35%

Key Developments in the Market

September 2017, Bayer CropScience AG and Ginkgo Bioworks teamed up to focus on the development of plant microbiome for nitrogen fixation in plants

May 2017, Inocucor technologies Inc. inked an agreement with Axter Agroscience Inc. to distribute Synergo, an agriculture microbial product in Canada.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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