Northbrook, IL 60062 -- (SBWIRE) -- 04/24/2023 -- The global agricultural microbials market is expected to experience a CAGR of 14.6% during the forecast period, projected to reach USD 12.6 billion by 2027, a substantial increase from the USD 6.4 billion estimated value in 2022.

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The influence of macroeconomic and microeconomic factors on this market is evident in key countries, where it is expected to drive significant value sales during this period. In developing countries, with a decline in per capita arable land and increasing demand for fruits and vegetables, investment in R&D activities has led to improvements in farming techniques, creating a significant increase in the use of agriculture microbial products.

The usage of microbial biofertilizers and biopesticides has become important in agriculture because of their ability to increase the resilience and yields in farming systems, which enhances nutrient uptake and pest resistance and helps to mitigate plant stress responses. The use of microbes in sustainable agriculture is crucial to achieving the "Sustainable Development Goals" outlined by the United Nations. The market growth is expected to continue in the future, with many industry players engaging in field trials, which have determined a 10-20% growth in the production of economically important crop plants.

Syngenta AG, a subsidiary of China National Agrochemical Corporation (CNAC) Saturn (NL) B.V., operates under two segments: Crop Protection and Seeds, and is one of the leaders in producing crop protection products. This segment offers selective herbicides, non-selective herbicides, fungicides, insecticides, seed care, controls, and other crop protection products and seed segments consisting of field crops, vegetables, and flowers.

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Syngenta has manufacturing and research & development facilities in Switzerland, the UK, the US, and China. Its principal agricultural genomics and biotechnology research facility is based in the US, where it is transforming how crops are grown and protected. Through the Crop Protection segment, the company has seen significant improvement in sales, which is attributed to the recovery and growth in the Brazilian market and new product launches in EMEA and the US. The purchase of Syngenta's shares by ChemChina (China) raised 98% of Syngenta's share capital, making it a strategic move to enter the agricultural market in China, which is showing growth in sustainability.

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