The agricultural and environmental benefits associated with microbial solutions are the major factors contributing to the growth of this market, globally. In comparison to their chemical counterparts, microbial solutions are very target-specific. They are safe for use and pose no hazard to the environment, unlike chemical pesticides, since they do not leave behind any chemical residues on the plant. The agricultural microbials market is projected to reach USD 6.01 billion by 2022, at a CAGR of 14.21% from 2017.
Why the growth of the unorganized markets in developing countries are posing significant challenges for the growth of the agricultural microbials market?
The market for agricultural microbials is unorganized, which results in the unavailability of products throughout the year in several regions, particularly developing countries. The market for counterfeit products has surged due to this information asymmetry and demand-supply mismatch. This is hindering the growth of the agricultural microbials market since the counterfeit products are of poor quality and render below-average performance, which results in farmers being apprehensive about the efficiency of microbial pesticides when compared to conventional chemical pesticides. The biopesticides sold in emerging markets are sometimes contaminated and have a poor microorganism count, which leads to poor and uneven performance. This leads to a decline in the overall demand for agricultural microbials.
The prices of these products are not uniform around the world. Thus, in the absence of floor prices and ceiling prices, farmers may end up paying more. There is limited awareness about brands as the market is highly fragmented at the regional level. Thus, from awareness about the product to the brand, farmers have little to no knowledge or misconceptions about microbial products, which affect the market negatively.
Advances in microbial technology for pest control, favorable and faster processes for the registration of agricultural microbials in North America, stringent regulations regarding the use of chemical pesticides, and the ban of several traditional pesticides in Europe are expected to play a significant role in the market growth of agricultural microbials. However, the absence of systematic rules and protocols for the approval of agricultural microbials and overlap of regulations for these products with crop protection pesticides result in delayed product approvals in key markets such as South America and Europe. The proposals for improved regulatory governance of agricultural microbials, especially crop protection, if amended, could remove the entry barriers faced by the small and medium-sized enterprises, and thus, spur market growth.
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Vegetable production across the globe has witnessed a positive trend in terms of cultivation area in recent years, due to the increasing demand from the food & beverage industry, which has set standard agricultural practices to qualify for better price grades. This makes it an important market driver among crop growers, even in developing markets, to implement a sustainable agricultural approach. The increasing number of microbial solutions offered for vegetables (such as potatoes, okra, and brassicas) and fruits (such as berries and citrus fruits) by key players are also boosting the market for agricultural microbials on a global scale.
Europe is projected to be the fastest-growing region in the agricultural microbials market from 2017 to 2022. Europe had the second-largest area under organic cultivation and accounted for around 25% of the world’s organic land as of 2015. Owing to the increasing number of bans on chemical products in European countries and the organic farming culture prevailing in this region, the region will see a high acceptance of agricultural microbials.
The objectives of the report
- Determining and projecting the size of the market, with respect to type, function, crop type, mode of application, formulation, and regional markets, over a five-year period ranging from 2017 to 2022
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
- Analyzing the demand-side factors based on the impact of macro and microeconomic factors on the market and shifts in demand patterns across different subsegments and regions
The stakeholders for the report are as follows:
- Key manufacturers of microbial pesticides, microbial fertilizers, and microbial biostimulants
- Key companies in the agricultural biologicals market
- Traders, distributors, and suppliers in this market
- Technology providers to agricultural microbial companies
- Farmer’s organizations and crop protection product manufacturers
- Associations and industry bodies such as the Food and Agriculture Organization (FAO), Biopesticide Industry Alliance (BPIA), International Biocontrol Manufacturers Association (IBMA), and Association of American Plant Food Control Officials (AAPFCO)
- Concerned government authorities, commercial R&D institutions, and other regulatory bodies
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The global market for agricultural microbials is dominated by large players such as BASF (Germany), Bayer (Germany), Monsanto BioAg (US), BioWorks (US), DowDuPont (US), Syngenta (Switzerland), and Certis (US). Some emerging players in the global market include Marrone Bio Innovations (US), Koppert (Netherlands), Arysta LifeScience (US), Valent BioSciences (US), and Isagro (Italy).
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