The report, "Agricultural Microbials Market by Type (bacteria, fungi, virus, and protozoa), Crop Type (Cereals & grains, oilseeds, & pulses, fruit & vegetable) & Region - Global Trends & Forecast to 2019", published by MarketsandMarkets. Agricultural Microbials Market is projected to increase to $4,456.37 million by 2019 at a compound annual growth rate (CAGR) of 15.3% from 2014.
The market is segmented and the value is projected on the basis of regions such as North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). Key countries the U.S., Spain, Italy, India, and China are covered and their market is projected for the next 5 years. The market size is projected on the basis of type, crop type, and region. The market for agricultural microbials has a significant impact on crop production. Agricultural microbials are broadly categorized into bacteria, fungi, and others (virus and protozoa) on the basis of microorganism types.
The value of the Agricultural Microbials Market is projected to increase to $4,456.37 million by 2019 at a CAGR of 15.3% from 2014. In this report, the Agricultural Microbials Market is segmented by type, crop type, region type and analyzed in terms of value ($million).
Bacterial Agricultural Microbials: Largest Market Segment
The bacterial microbials segment accounted for the largest share and was followed by the fungi segment, in 2013. All segmented types of agricultural microbes are essential elements for crop growth, yield enhancement, and to kill a variety of pests. In 2013, North America accounted for the largest share of the bacterial microbials segment. In the same year, Europe contributed the second-largest share.
Agricultural Microbials Market, by Crop Type
The Agricultural Microbials Market consists of four crop types: cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. Other crops include turf, forage, and ornamental & plantation crops. The demand for agricultural microbials for the fruits & vegetables segment accounted for the largest share in 2013, and was followed by the other crops segment, in the same year. North America was the largest market for agricultural microbials in 2013, followed by the European region.
The demand for new and varied agricultural microbials products, which result in better yield of crops and quality products, is increasing in the market. Leading companies are engaging in the production of agricultural microbials on a global scale, because it is considered to be a growing market in the agriculture industry. Existing companies are actively introducing new agricultural microbial products with different active ingredients to satisfy the expected yield from crops.
Companies such as BASF SE, (Germany), Bayer CropScience AG (Germany), Monsanto (U.S.), Sumitomo Chemical Co., Ltd. (Japan), Syngenta AG (Switzerland), Dow Chemicals (U.S.), Arysta LifeScience Limited (Japan), and Novozymes (Denmark) are the key players of the agricultural microbials market. These companies use various strategies to make their products unique, pest- and crop-specific, and to increase agricultural production by minimizing crop loss.