The global agricultural microbials market size is expected to reach USD 24.86 billion by 2032, according to a new study by Polaris Market Research. The report “Agricultural Microbials Market Share, Size, Trends, Industry Analysis Report, By Function (Soil Amendments and Crop Protection); By Type; By Formulation; By Mode of Application; By Crop Type; By Region; Segment Forecast, 2023 -2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing awareness towards the utilization of synthetic chemicals and fertilizers has shown many detrimental and harmful effects on human health and the environment as well, so both government and private organizations are undertaking numerous efforts for the improvement of agricultural management practices, which is expected to drive the growth and demand for agricultural microbials worldwide. According to our findings, synthetic fertilizers are responsible for over 20% of global agricultural emissions. And synthetic nitrogen fertilizers are responsible for about 2.4% of global emissions, which cause several types of human diseases and impact the environment.
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Moreover, the growing need and demand for food products form an ever-growing global population, rising penetration of sustainable agriculture practices, and various concerns of consumers over environmental safety coupled with the rapidly growing trend of organic farming to achieve sustainability and innovation in crop protection products are anticipated to contribute to the market growth. For instance, in March 2022, Mosaic Company & BioConsortia signed a new agreement to develop and distribute nitrogen-fixing microbial products for wheat, corn, rice, and fruits & vegetables in India, China, Thailand, and Vietnam.
Agricultural Microbials Market Report Highlights
Polaris Market Research has segmented the agricultural microbials market report based on function, type, application, mode of application, crop type, and region:
Agricultural Microbials, Function Outlook (Revenue - USD Billion, 2019 - 2032)
Agricultural Microbials, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Agricultural Microbials, Formulation Outlook (Revenue - USD Billion, 2019 - 2032)
Agricultural Microbials, Mode of Application Outlook (Revenue - USD Billion, 2019 - 2032)
Agricultural Microbials, Crop Type Outlook (Revenue - USD Billion, 2019 - 2032)
Agricultural Microbials, Regional Outlook (Revenue - USD Billion, 2019 - 2032)