Agricultural Microbial Market size was valued at USD 3,247.4 million in 2021, growing at a CAGR of 13.4% during 2022-28. owing to growing awareness and provision from number of agencies with respect to the custom of agronomic microbial. Furthermore, other factors such as rapid developments happening in agricultural sector and rising demand for high productivity coupled with favorable regulatory framework and support from the government are anticipated to drive the growth of the market. Rising demand for biopesticides and rising investments in research and development are expected to drive the growth of the market. However, lack of awareness among the farmers regarding the benefits of the agricultural microbial and various challenges are anticipated to restrain the growth of the market.
Fastest Growing Market
The increasing need to feed an ever-growing global population, along with the growing demand for sustainable agricultural practices and the apprehension of the general public over ecological safety is one of the important driver for the growth of the market. By 2050, the global population is projected to be 9 Bn, where demand for food is going to be increased tremendously. The use of agricultural microbial would enhance the quality of the food and increase the capacity of the production which is expected to meet the demand of the customers over the forecast years.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key playerâ€™s profiles in the global agricultural microbial market include: