The agricultural microbial market is segmented by type, function, by Formulation, by mode of application, by application, and by geography

SEATTLE, WASHINGTON, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- Market Overview

The important factors, driving the growth of the agriculture microbials market are increasing food demand of the global population and food security, rise in cost of agrochemicals, favourable government policies & legislation, and increasing popularity and adoption of organic farming, across the globe. Few factors, such as high target pest specificity of microbials and low adoption rate, owing to less awareness, are limiting the market growth. Nevertheless, the increasing demand in the developing markets, such as Asia-Pacific and Latin America are expected to provide a further growth opportunity, and the growing potential of microbial seed treatment solution is expected to help the agriculture microbials sector to flourish in the coming years.

Whilst the market for microbial products is improving from a relatively low base, it is unlikely that the sector will achieve high growth rates, until reproducibility of action in the field can be proven. High cost of microbial products and their low availability, less awareness about organic pesticides & fertilizers and high specificity of microbial products, mainly microbial pesticides toward pests, are the major constraints for the agriculture microbial market. The majority of microbial options require frequent, repetitive applications for optimal efficacy. The added labor and expense of these applications is often a deterrent, inhibiting the growth of the market for microbial.

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Segmentation by Type
The global agriculture microbials market, by type, is segmented into bacteria, fungi, virus and others. Bacteria-based products occupy the largest market share of 44.95%, followed by virus with 35.55 %, fungi with 15.29% and others with 2.19% in 2019. The bacteria-based agriculture has a huge demand and is widely used, globally. With increasing awareness and support from various agencies for using agricultural microbials, their share is rapidly increasing.

Segmentation by Function
By function, the global agricultural microbials market is broadly segmented into soil amendments and crop protection. Crop protection segment occupies the largest share of 70% in the market, while 30% is occupied by soil amendments. With environmental sustainability gaining high importance and with government promoting the use of microbials, a double-digit growth is expected in the forecast period for the agriculture microbials market

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Segmentation by Geography

By geography, the global market for agriculture microbial products can be segmented into North America, Europe, Asia-Pacific, South America and Africa. The market is further segmented by country. Asia-Pacific and South America are the fastest growing markets for agriculture microbial products followed by Europe and North America.

The market for agriculture microbial products in Asia-Pacific is likely to grow at a CAGR of 21.24% over 2020-2026. The second fastest growing market, South America is projected to witness a CAGR of 20.35% over 2020-2026.

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. In Asia-Pacific, government bodies are conducting campaigns to create awareness about product efficiency and supplying free samples to encourage microbial pesticide usage. A growing awareness about organic farming has also driven the growth of the Asia-Pacific market.

The North America market for agriculture microbial is estimated to be the market leader, owing to the strong encouragement from government for their use and the market is growing at a very fast pace. Apart from North America, Europe and Asia-Pacific are growing at a strong growth rate owing to increased food demand in line with increasing population.

Agriculture microbial market is a niche market, which is growing due to the present agricultural sector need and high innovation. As a natural way of tackling plant growth, maintaining soil health and improving plant nutrient intake, agriculture microbial product application is gaining momentum in various environment conscious markets, such as North America and Europe. Regions with large-scale industrialized agriculture production tend to opt for this innovative segment due to the soil health degradation and heavy use of chemicals in fields. North America is the single largest market for Agriculture microbial products, covering more than 40% of the total market share.

In contrast, several countries outside the EU, especially the United States, do not regulate MBCAs in the same way as chemical pesticides. The United States has one of the few systems where ‘microbial pesticides’ and ‘biochemical pesticides’ (together termed ‘biopesticides’) are evaluated by a separate division from that which is responsible for chemical pesticides; however, both are within the United States Environmental Protection Agency (EPA). In most other administrative systems, e.g. Canada, Australia and the EU, microorganisms and microbial plant protection products are treated in the same administration as conventional chemical actives and their PPPs.

In the United States, Canada, Australia and many other regulatory systems, applications for the registration of active ingredients and formulated products are made to the same authority. The system in the EU is even more complicated, as active ingredients are evaluated at the level of the EU by Parliament and Council Regulation, whereas plant protection products are registered at national level.

Further, Brazil and Argentina are 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

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Competitive Landscape

The results of market share analysis indicate a highly fragmented global market for agriculture microbials. Many small players occupy a major portion of the market, with top players have a diverse and increasing product portfolio. In terms of market share dominance, Certis with 5.4% share is followed by BASF and Valent Biosciences which have market share of around 5.1% and 5% respectively. Marrone Bio Innovations and Bayer stand on the fourth and fifth rank, with market share of 4.5% and 3% respectively. The greater market share of these players can be attributed to highly diversified product portfolio and large number of acquisitions and agreements taking place. These players are also focusing on R&D, large product portfolio, wide geographical presence and aggressive acquisition strategy

Bhanu Reddy
Global Monitor
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