Agricultural Microbial Market to Reach $27.7 Billion, Globally, by 2033 at 14.7% CAGR: Allied Market Research

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Aug 22, 2024, 04:00 ET

The global agricultural microbial market is experiencing growth due to increase in demand for bio-fertilizers and nutrient management where microbial-based bio-fertilizers, such as nitrogen-fixing bacteria and phosphate solubilizing microbes, offer sustainable alternatives to chemical fertilizers. They promote nutrient cycling, reduce nutrient runoff, and enhance soil fertility, contributing to long-term soil health and productivity.

WILMINGTON, Del., Aug. 22, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Agricultural Microbial Market by Microbe Type (Bacteria, Fungi, Viruses and Others), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses and Others), Formulation (Liquid and Dry), and Application (Soil Treatment, Seed Treatment, Foliar Spray and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the agricultural microbial market was valued at $7.1 billion in 2023, and is estimated to reach $27.7 billion by 2033, growing at a CAGR of 14.7% from 2024 to 2033.

Prime determinants of growth

The global agricultural microbial market is experiencing growth due to restoration of degraded lands where microbial solutions play a vital role in restoring degraded soils and ecosystems, including contaminated sites, eroded lands, and marginal agricultural areas, thereby supporting land rehabilitation and biodiversity conservation efforts. However, the high initial cost associated with microbial products is expected to hamper the market growth. The surge in integration of microbial applications with digital farming technologies facilitates real-time monitoring, optimization, and decision-making, is expected to provide lucrative opportunities in the agricultural microbial market during the forecast period.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2023

$7.1 billion

Market Size in 2033

$27.7 billion

CAGR

14.7 %

No. of Pages in Report

300

Segments Covered

Microbe Type, Crop Type, Formulation, Application, and Region

Drivers

Increase in demand for sustainable agriculture

Surge in soil remediation and restoration

Opportunity

Increase in demand for sustainable agriculture

Restraint

Limited shelf life and storage requirements

The bacteria segment is expected to dominate the agricultural microbial market throughout the projected period

Bacteria are widely used in agriculture for various purposes such as nitrogen fixation, nutrient solubilization, and disease suppression. Certain strains of bacteria, like those belonging to the genera Rhizobium and Bradyrhizobium, form symbiotic relationships with leguminous plants, enabling them to convert atmospheric nitrogen into a form that plants utilize, thus reducing the need for synthetic fertilizers. In addition, bacteria like Bacillus and Pseudomonas are known for their ability to produce antibiotics and enzymes that inhibit the growth of plant pathogens.

The cereals & grains segment is expected to remain the largest type throughout the forecast period

Microbial inoculants are applied as seed treatments to improve seed germination, seedling vigor, and early root development. This results in better establishment and growth of cereals and grains, leading to higher yields. Legume crops such as soybeans, lentils, and peas form symbiotic relationships with nitrogen-fixing bacteria such as Rhizobium. These bacteria convert atmospheric nitrogen into a form that plants use, thus reducing the need for nitrogen fertilizers.

The liquid segment is expected to lead throughout the forecast period

Liquid formulations are characterized by their fluid state, which often includes solutions, suspensions, or emulsions. These formulations are favored for their ease of application, as they readily mixed with water and sprayed onto crops using various irrigation systems or spraying equipment. Liquid formulations also tend to have better coverage and distribution on plant surfaces, ensuring more effective contact with target pests or pathogens. In addition, liquid formulations offer advantages in terms of stability and shelf life, as certain active ingredients are better preserved in solution form.

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The soil treatment segment is expected to dominate the airport lighting market throughout the forecast period

Soil treatment involves the application of microbial agents to enhance soil health, fertility, and overall productivity. Microbial inoculants, such as beneficial bacteria and fungi, are introduced into the soil to promote nutrient cycling, improve soil structure, and suppress plant pathogens. Soil treatment is increasingly gaining traction due to its compatibility with organic farming practices and its ability to reduce reliance on synthetic fertilizers and chemical pesticides. As environmental concerns continue to mount, there is a growing emphasis on adopting eco-friendly agricultural practices, further fueling the demand for microbial soil treatments.

Asia-Pacific to maintain its dominance by 2033

In Asia-Pacific countries, the usage of agricultural microbes varies significantly due to the region's diverse agricultural landscapes and socioeconomic factors. For instance, in countries like India and China, where agriculture is a vital component of the economy and smallholder farming is prevalent, there is widespread adoption of biofertilizers and biocontrol agents. These microbial products offer cost-effective solutions for enhancing soil fertility and managing plant diseases, particularly in regions with limited access to chemical inputs or where sustainable agriculture practices are prioritized.

In Japan and South Korea, advanced agricultural technology and research infrastructure have led to the development and adoption of innovative microbial products for crop improvement and environmental management. These countries are at the forefront of microbial biotechnology, with research institutions and companies investing in the development of tailored microbial inoculants for specific crops and environmental conditions. Additionally, in countries such as Australia and New Zealand, where extensive livestock farming is common, microbial-based solutions for soil remediation and waste management play a crucial role in minimizing environmental impacts and ensuring sustainable agricultural practices.

Players: -

Atos SE
Siemens Energy
Schneider Electric
GE Vernova
Terex Corporation
Vestas
Iberdrola, S.A.
JinkoSolar Holding Co., Ltd.
AutoGrid Systems, Inc
Constellation.

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The report provides a detailed analysis of these key players in the agricultural microbial market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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