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A Sneak Peek Into Europe Agricultural Microbials Market by Market Data Forecast

The Europe Agricultural Microbials Market was worth USD 0.70 billion in 2016 and estimated to be growing at a CAGR of 15.3%, to reach USD 1.43 billion by 2021.

Posted: Thursday, March 15, 2018 at 2:24 PM CDT

Hyderabad, India -- (SBWire) -- 03/15/2018 --Agricultural microbials are microbes that associate themselves with plant and are essential to maintaining the fertility of the soil. Maintaining an adequate amount of microbial strains is incredibly important for improving the pathogen resistance, maintain proper nutrient quotient, and high output. Majority of these microbials are either bacteria or fungi.

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The Europe agricultural microbials market was estimated to be at a market value of USD 700 Million in 2016 and is projected to rise at a CAGR 15.3% to reach USD 1,430 Million by 2022 owing to the growing population and increasing demand for food.

The key driving factors of the Europe agricultural microbials market are the rising food consumption, growing concern over food security, ascend in the cost of agrochemicals, great government approaches, increasing diseases that are affecting crops and harvest, and enactment and the expanding ubiquity and appropriation of natural cultivation.

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The major challenges of the market expansion are low target range of microbes and low acceptance rate because of lack of exposure. The market is forecasted to witness vital organizations to come together and form associations to achieve the edge over other players of the market.

Geographically, the market is categorized into Germany, U.K, Spain, Italy, and France. The market is expected to retain the high market value despite its low growth rate. Ecological protection laws in Europe act as a major boosting factor for the expansion of the market in Europe. Also, there is a sudden rise in interest for organic food in European countries which also is expected to have a positive impact on the market growth.

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Some of the key players of Europe agricultural microbials market include Monsanto, Bayer CropScience AG, Sumitomo Chemical Co., Ltd., BASF SE, Syngenta AG, Arysta Life Science Limited and Novozymes.

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Europe Agricultural Microbials Market