Global Agricultural Microbials Market to grow at 14.94% CAGR, which is anticipated to reach USD 12.3 billion by 2030

CRI Report has released a report titled “Agricultural Microbials Market – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 12.3 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 14.94% between 2020 and 2030. According to the report, The main driving forces behind the growth of precise agriculture include increased agricultural mechanisms in developing countries, rising labor costs as a result of a lack of skilled labor, increased pressure for food supplies in the world as a result of increasing population, significant savings on smart farming techniques and government initiatives to adopt advanced agricultural technology. The increasing need for optimal crop production with scarce funds gives it tremendous popularity among farmers.

The market report on global Agricultural Microbials market includes in-depth insights as:

• The estimated value of the market was USD 8.1 billion in the year 2020.
• Region-wise, the market in North America, which held the largest market share of XX.X% in the year 2020, emerged as a key market for Agricultural Microbials Market.
• Based on type, bacteria emerged as a key segment in the global Agricultural Microbials Market.
• Based on crop type, vegetables and fruits emerged as a key segment in the global Agricultural Microbials Market
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“One of the driving forces for the agricultural and microbial market is the growing need to nourish an ever-increasing world population combined with increasing demand for sustainable farming practices and public concern for environmental safety. One of the major drivers for the use of microbial products is the public’s problem over environmental safety. The forces which drive microbial demand involve the need to increase crop yields per acre while promoting increasingly sustainable practices, finding biologic alternatives to boost environmental production with a reduction in environmental pressure or supplementing integrated practices.”, said a lead analyst at CRI Report.

Agricultural microbial means the microorganisms used in farming to improve crop productivity and yield quality. Agriculture’s microbial inoculants have target-specific roles, making them ideal for use in a variety of crops. Agricultural microorganisms are naturally occurring organisms like molds and bacteria that provide plants with nutrients like phosphorus and nitrogen. These microorganisms also help to boost soil structure, nutrient processing, ecological balance, and plant productivity and sustainability.

Global Agricultural Microbials Market is segmented by Crop Type into Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables. The segment of fruits and vegetables will represent USD XXXX billion by 2030 as the largest market part. The fast-moving focus on fruit and vegetable consumption within the demography is pushing the demand towards optimal nutrition. Production volumes of fruit and vegetables around the world have also increased. In the developed and developing countries, increased per capita incomes also propel the demand for food generated naturally.

Key Players in the Market

• Some of the key players operating in the global Agricultural Microbials market are BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), Marrone Bio Innovations (US), CHR. Hansen Holdings (Denmark), Isagro S.p.A (Italy), UPL Corporation (India), Verdesian Life Sciences LLC (US), Other Prominent Players

Get Valuable Insights into Global Agricultural Microbials Market

In the new report, CRI Report thrives to present an unbiased analysis of the global Agricultural Microbials market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Crop Type into Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables. By type, the market is divided into Bacteria, Fungi, Virus, Protozoa. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.