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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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.
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