Key Trends Shaping the Agricultural Microbials Market

Northbrook, USA, 2020-Jan-29 — /EPR Network/ —

The agricultural and environmental benefits associated with microbial solutions are the major factors contributing to the growth of this market, globally. In comparison to their chemical counterparts, microbial solutions are very target-specific. They are safe for use and pose no hazard to the environment, unlike chemical pesticides, since they do not leave behind any chemical residues on the plant. The agricultural microbials market is projected to reach USD 6.01 billion by 2022, at a CAGR of 14.21% from 2017.

Advances in microbial technology for pest control, favorable and faster processes for the registration of agricultural microbials in North America, stringent regulations regarding the use of chemical pesticides, and the ban of several traditional pesticides in Europe are expected to play a significant role in the market growth of agricultural microbials. However, the absence of systematic rules and protocols for the approval of agricultural microbials and overlap of regulations for these products with crop protection pesticides result in delayed product approvals in key markets such as South America and Europe. The proposals for improved regulatory governance of agricultural microbials, especially crop protection, if amended, could remove the entry barriers faced by the small and medium-sized enterprises, and thus, spur market growth.

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Vegetable production across the globe has witnessed a positive trend in terms of cultivation area in recent years, due to the increasing demand from the food & beverage industry, which has set standard agricultural practices to qualify for better price grades. This makes it an important market driver among crop growers, even in developing markets, to implement a sustainable agricultural approach. The increasing number of microbial solutions offered for vegetables (such as potatoes, okra, and brassicas) and fruits (such as berries and citrus fruits) by key players are also boosting the market for agricultural microbials on a global scale.

Due to the low application costs and precision of application achieved by seed treatment, it is projected to grow at the highest rate during the forecast period. The exponential growth of the seed treatment segment can be attributed to the increasing number of products developed for seed treatment by major manufacturers such as BASF (Germany) and Bayer (Germany) recently.

Europe is projected to be the fastest-growing region in the agricultural microbials market from 2017 to 2022. Europe had the second-largest area under organic cultivation and accounted for around 25% of the world’s organic land as of 2015. Owing to the increasing number of bans on chemical products in European countries and the organic farming culture prevailing in this region, the region will see a high acceptance of agricultural microbials.

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