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Agricultural Microbials Market Analysis

  • Report ID: GMI10716
  • Published Date: Aug 2024
  • Report Format: PDF

Agricultural Microbials Market Analysis

Bacteria segment held USD 3.1 billion in 2023 and it is anticipated to expand at a 15.4% of CAGR during 2024-2032. The bacteria segment is a key driver in the market, fueled by the growing focus on sustainable farming practices. Nitrogen-fixing bacteria are increasingly popular for their ability to naturally enhance soil nitrogen levels, thereby reducing the dependence on synthetic fertilizers. Phosphate-solubilizing bacteria are in high demand due to their effectiveness in making phosphorus available to plants, which improves root development and boosts crop yields. Potash-mobilizing bacteria are crucial for increasing potassium availability, an essential nutrient for plant growth. The "others" category includes various beneficial bacteria that contribute to overall soil health and plant resilience.
 

Agricultural Microbials Market Revenue Share, By Crop Type, 2023

The cereals & grains segment was valued at USD 2.61 billion in 2023 and garner a 15.7% CAGR from 2024 to 2032. The need for sustainable agricultural practices, which enhance soil health and crop yields, is driving the adoption of agricultural microbials in key cereals and grains such as corn, wheat, rice, and barley. These crops are essential for global food security, and the increasing demand for organic produce, along with a shift away from synthetic chemicals, is a significant factor. Microbial applications improve nutrient uptake, disease resistance, and overall crop resilience, leading to increased productivity and profitability for farmers. For example, nitrogen-fixing bacteria are widely used to naturally increase soil nitrogen levels, which is critical for cereal crop growth. Additionally, biostimulants and biofertilizers are used to enhance root development and plant vigor, addressing issues related to soil depletion and climate variability.
 

Soil amendments are expected to hold USD 14.89 billion by 2032 and are anticipated to expand at a 14.9% CAGR during the 2024-2032. Biofertilizers are a rapidly growing segment within the agricultural microbials market. They play a crucial role in enhancing nutrient availability and improving soil health, which are essential for sustainable farming practices. Biofertilizers, such as nitrogen-fixing bacteria, phosphate-solubilizing bacteria, and mycorrhizal fungi, naturally replenish essential soil nutrients, reducing the need for chemical fertilizers. This growth is driven by increasing awareness of the negative impacts of synthetic fertilizers on soil health and the environment. Farmers are adopting biofertilizers to improve crop yields and soil structure, ensuring long-term agricultural productivity.
 

Foliar spray was valued at USD 2.61 billion in 2023 and is expected to grow at a significant CAGR during the forecast period. Foliar spray has become a preferred method for applying agricultural microbials due to its direct and efficient delivery system. This technique involves spraying a fine mist of microbial solutions directly onto plant leaves. By applying microbials to the foliage, farmers can ensure rapid absorption of nutrients and protective agents through the stomata (pores) of the leaves, leading to immediate and noticeable benefits.
 

The dry formulation segment holds USD 4.07 billion in 2023. In the agricultural microbials market, dry formulations, such as granules and powders, are highly valued for their operational efficiency, extended shelf life, and cost-effectiveness. Granules are preferred for their uniform application and controlled release properties, ensuring a consistent supply of essential nutrients or microbial agents. This is critical for soil treatments, where maintaining soil health and fertility is essential. Additionally, the ease of broadcasting or direct soil application makes granules an ideal choice for large-scale farming operations.
 

North America Agricultural Microbials Market Size, 2021- 2032 (USD Billion)

North America region hold USD 2.55 billion in 2023 and expected to grow at a 15.9% CAGR till 2032. North American agricultural microbials market is witnessing robust growth, driven by advanced agricultural techniques, a heightened focus on sustainable farming, and favorable regulations. The U.S. and Canada, as key agricultural players, are leading the adoption of microbial solutions to enhance crop yields and soil quality. With a growing demand for organic and non-GMO products, farmers in the region are increasingly opting for eco-friendly alternatives to traditional chemicals. This shift is further supported by rising consumer concerns about food safety and environmental impact, resulting in a significant increase in the use of biofertilizers, biostimulants, and biopesticides.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

Agricultural microbials market size was USD 7.34 million in 2023 and is expected to register 14.7% CAGR from 2024-2032 owing to the rising demand for sustainable agricultural practices and the imperative to boost crop productivity worldwide.

Agricultural microbials industry from the bacteria segment is expected to register 15.4% CAGR from 2024-2032 due to growing focus on sustainable farming practices.

North America industry expected to register 15.9% CAGR from 2024-2032 due to advanced agricultural techniques, a heightened focus on sustainable farming, and favorable regulations in the region.

BASF SE, Certis USA L.L.C, FMC Corporation, Koppert, Novozymes A/S, Sumitomo Chemical Co., Ltd, Varsha Bioscience and Technology India Pvt Ltd, PI Industries Ltd, and Indian Farmers Fertilizer Cooperative Limited, are some of the major agricultural microbials companies worldwide.

Agricultural Microbials Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 162
  • Countries covered: 21
  • Pages: 200
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