Yahoo Finance 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 the microorganisms used in agriculture to enhance crop productivity and yield quality. Bacteria, fungi, and viruses are a few microbes.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agriculture Microbial Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Formulation, Function, Mode of Application, and Crop Type and Geography" - https://www.reportlinker.com/p06321010/?utm_source=GNW
Bacteria is one of the most commonly used microbial in agriculture products.They can boost the growth of the plant by improving access to supplements.
Many microbes help decompose organic matter and recycle agricultural waste material. Also, they offer phosphorus, nitrogen, and other nutrients and provide benefits, including heat and drought tolerance and resistance to insects and plant diseases.
Based on crop type, the agriculture microbial market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.The fruit and vegetables segment accounted for the largest market share in 2020 and is expected to register the highest CAGR during the forecast period.
The market growth for the segment is attributed to the high remuneration factors associated with the crop and increased demand to provide essential nutrients effectively.The demand for organic fruits and vegetables has increased owing to rising consumer awareness about the harmful effects of synthetic chemicals.
The demand for organic fruits and vegetables has increased owing to rising consumer awareness about the harmful effects of synthetic chemicals. Therefore, the increased demand for organic fruits and vegetables propels the need for agriculture microbials.
Based on region, the agriculture microbial market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).In 2020, North America held the largest share of the market, and Asia Pacific is estimated to register the highest CAGR during the forecast period.
The US Department of Agriculture (USDA), National Science Foundation (NSF), and other agriculture associations in North America are encouraging the research and development activities to provide long-term availability of microbial-based products and achieve microbial diversity.Key players adopt strategic initiatives, including partnership and product launch, to provide agriculture microbial solutions for sustainable farming.
For instance, in July 2019, Marrone Bio Innovations Inc announced the BioUnite program, an integrated pest management program for growers in California. Thus, increased inclination toward organic farming coupled with support from agriculture organizations drives the growth of the agriculture microbial market.
Carhartt, Inc.; Aramark; Alisco Group; Alexandra; 3M; A. LAFONT SAS; Fristads Kansas Group; Hultafors Group; and Lakeland Industries, Inc. are among the key players operating in the agriculture microbial market. These companies are focusing on new product launches and geographical expansions to meet the growing consumer demand across the world.
The overall agriculture microbial market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as 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, specializing in the agriculture microbial market.
Read the full report: https://www.reportlinker.com/p06321010/?utm_source=GNW
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