agriculture microbial Market

The agriculture microbial market is projected to reach US$ 18,003.75 million by 2028 from US$ 6,901.93 million in 2021. It is expected to grow at a CAGR of 14.8% from 2022 to 2028.

Agricultural microbial refers to microorganisms that are utilized in agriculture to improve crop productivity and enhance the quality of yields. These microbes can be bacteria, fungi, viruses, or other types of microorganisms. Among these, bacteria are the most widely used in agricultural products since they can enhance plant growth by providing nutrients. Additionally, microbes can also help decompose organic matter and recycle agricultural waste materials, as well as offer benefits such as heat and drought tolerance, resistance to insects and plant diseases, and more.

The agricultural microbial market is segmented based on crop type, including cereals and grains, oilseeds and pulses, fruits and vegetables, and others. In 2020, the fruits and vegetables segment held the largest market share, and it is expected to register the highest CAGR during the forecast period. The segment's growth is attributed to several factors, including high remuneration associated with these crops and the increased demand for essential nutrient supply. As consumers become more aware of the harmful effects of synthetic chemicals, the demand for organic fruits and vegetables has increased, thus driving the need for agricultural microbials.

The agriculture microbial market is classified by region into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America dominated the market in 2020, while Asia Pacific is expected to register the highest CAGR during the forecast period. Agriculture associations, such as the USDA and NSF, in North America are promoting research and development activities to promote microbial diversity and ensure the long-term availability of microbial-based products.

Key market players are adopting strategic initiatives such as partnerships, mergers, collaboration, and new product launch to offer sustainable agriculture microbial solutions. For example, in July 2019, Marrone Bio Innovations Inc introduced the BioUnite program, an integrated pest management program for California growers. The growing preference for organic farming and backing from agriculture organizations are driving the growth of the agriculture microbial market.

In the microbial agriculture market, key players such as Carhartt, Inc., Aramark, Alisco Group, Alexandra, 3M, A. LAFONT SAS, Fristads Kansas Group, Hultafors Group, and Lakeland Industries, Inc. are implementing strategies such as new product launches and expanding their reach in various regions to meet the rising consumer demand across the globe.

The market size of the microbial agriculture market has been determined using a combination of primary and secondary sources. The research process began with extensive secondary research involving internal and external sources to collect qualitative and quantitative information pertaining to the market. Furthermore, multiple primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the microbial agriculture market, in order to validate the data and gain deeper insights into the topic.