Northbrook, IL 60062 -- (SBWIRE) -- 10/20/2023 -- According to a research report titled "Agricultural Microbials Market by Type, Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Formulation, and Region - Global Forecast to 2027" published by MarketsandMarkets, the global agricultural microbials market is experiencing substantial growth. It was valued at USD 6.4 billion in 2022 and is projected to reach USD 12.6 billion by 2027, with a remarkable CAGR of 14.6% during the forecast period.

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Macro and microeconomic factors in key countries have had a significant influence on the global agricultural microbials market. The increasing demand for fruits and vegetables in developing nations, coupled with a decrease in per capita arable land, has driven investments in research and development activities to enhance farming techniques. This, in turn, has led to the increased use of agricultural microbial products in the agriculture industry.

Microbial biopesticides and biofertilizers are gaining importance due to their ability to boost crop resilience and yields, enhance nutrient uptake, improve pest resistance, and mitigate plant stress responses. The use of microbes plays a pivotal role in sustainable agriculture, aligning with the "Sustainable Development Goals" outlined by the United Nations. The future growth prospects in this market are promising, with many industry players conducting field trials that have resulted in a 10-20% growth in the production of economically significant crop plants.

Key Insights from the Report:

Market Overview: The report includes 371 market data tables and 61 figures, spread across 365 pages, providing an in-depth analysis of the agricultural microbials market.

Syngenta AG: As a global market leader, Syngenta AG offers products that protect crops through its Crop Protection business segment. The company has a strong global presence, with operations in over 100 countries, and has made strategic moves, such as its purchase by ChemChina, to enter the agricultural market in China.

Organic Food Crops: The increasing demand for organic food crops and the phase-out of key chemical active ingredients are driving the growth of the agricultural microbials market. Biologicals are gaining traction due to their environmental and health benefits.

Crop-Specific Pests: The report segments the agricultural microbials market by crop type, emphasizing crop-specific pests that have a direct or indirect impact on crop yields.

Seed Treatment: Biopesticide seed treatment methods are being encouraged in various countries, as they offer sustainable pest control solutions while minimizing chemical exposure and runoff.

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Regional Insights: North America is expected to reach USD 4.3 billion during the forecast period, driven by factors such as growth in organic farming and efficient infrastructure.

Key Players: Major players in the agricultural microbials market include FMC Corporation, Corteva Agriscience, Marrone BioInnovations, and Valent Biosciences.

The global agricultural microbials market is on a growth trajectory, with increasing awareness of sustainable agriculture practices and the benefits of using biocontrol tools. The report provides valuable insights into the market's trends, key players, and regional dynamics, making it an essential resource for industry stakeholders and decision-makers.

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