Global Agricultural Microbials Market: Snapshot
The global agricultural microbials market is prophesied to witness strategic alliances and partnerships to take shape in an attempt to gain a competitive edge over other players in the industry. For instance, the BioAg Alliance was formed after Monsanto and Novozymes shook hands over one goal of leveraging microbial technologies to improve agricultural productivity while guaranteeing environmental safety. BioAg Alliance is considered as one of the world’s largest programs for microbial field testing to examine potential agricultural microbes. The first microbial product incubated by the alliance is Acceleron B-300 SAT, which is set to be applied to new corn hybrid seeds sold by Monsanto in the U.S.
Some of the crucial factors augmenting the growth of the global agricultural microbials market could be the rising adoption and popularity of organic farming across the world, acceptable government legislations and policies, and increase in the cost of agrochemicals besides the obvious factor of increasing food demand and security. However, features such as the telling target pest specificity of microbials and lazy adoption due to lack of awareness are projected to discourage the demand for agricultural microbials. Nevertheless, the mounting potential for microbial seed treatment solutions and heavy demand in emerging regions such as Latin America and Asia Pacific could lay a solid foundation of growth in the market.
Agricultural microbials could prove to be essential for holistically improving plant health and enhancing crop productivity through economical solutions while controlling disease outbreak, bettering soil health condition, and refining the nutrient transportation process.
Global Agricultural Microbials Market: Overview
With the increasing attempts to curtail the high frequency of crop diseases, the global demand for agricultural microbials is expected to follow a notable growth track. Agricultural microbials are being widely acknowledged as they are cost-effective and sustainable and enhance the productivity and fertility of crops. They are commonly used in the production of crops such as pulses, oilseeds, cereals and grains, vegetables, fruits, and poultry and dairy products. Some of the common types of these microbials are bacteria, virus, protozoa, and fungi.
The research report encompasses all the important parameters of the global agricultural microbials market, including its dynamics, competitive landscape, and region-wise outlook. The statistics pertaining to the market at both global and regional levels are included in the report. The study profiles key players operating in the market along with their business strategies, latest developments, and contact information.
Global Agricultural Microbials Market: Drivers and Restraints
The ever-rising demand for food is playing a vital role in the growth of the global agricultural microbials market. Agricultural microbials are useful in enhancing the crop yield and also in improving human health. In addition, the rapidly growing global population is escalating the demand for food, thereby stoking the growth of the region. Moreover, the increasing emphasis on environment-friendly farming practices is translating into the greater uptake of agricultural microbials. Favorable regulatory policies and financial schemes by several governments across the world are also augmenting the market.
On the flip side, the shorter shelf life of microbes is limiting the widespread adoption of agricultural microbials. This is further compounded by the changing climatic conditions. However, the burgeoning use of agricultural microbials in emerging regions of Asia Pacific and Latin America are prompting market players to capitalize on these regions.
Global Agricultural Microbials Market: Geographical Segmentation
The key segments analyzed in the report on the basis of geography are Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. North America and Europe will account for substantial cumulative shares in the global market. The growing demand for organic food is the primary factor driving the growth of these regions. In North America, the U.S. will be a major revenue contributor due to the enforcement of stringent environmental protection laws for agricultural practices. The spike in the consumption of fertilizers and pesticides in Canada is triggering the demand for agricultural microbials.
Asia Pacific is expected to register a significant growth rate owing to the increasing production of tropical and sub-tropical vegetables and fruits. Countries such as India and China will be the sights of high growth rate in the region. The rapidly growing population of these countries is leading to the spiraling demand for food, which is stimulating the adoption of agricultural microbials.
Global Agricultural Microbials Market: Competitive Landscape
The global agricultural microbials market is highly fragmented in nature, with a large number of small players present especially in developing countries. Key players in the market are focusing towards generating innovative solutions such that they can better adapt and scale to suit the requirements of end users. These players are pouring hefty funds into research and development of novel microbial products in order to stay relevant. Several players are aiming at expanding their geographical outreach to enhance their visibility. The key companies operating in the global agricultural microbials market are Monsanto, Bayer CropScience AG, Syngenta AG, BASF SE, Arysta LifeScience Limited, Sumitomo Chemical Co. Ltd., and Novozymes.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.