Report : South & Central America Agriculture Microbial Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Bacteria, Fungi, Virus, and Others), Formulation (Liquid and Dry), Function (Crop Protection and Soil Amendments), Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment, and Post-harvest), and Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others)
At 15.1% CAGR, the South & Central America Agriculture Microbial Market is speculated to be worth US$ 2,105.11 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America agriculture microbial market was valued at US$ 905.23 million in 2022 and is expected to reach US$ 2,105.11 million by 2028, registering an annual growth rate of 15.1% from 2022 to 2028. Rising concern for sustainable agriculture and rise in awareness regarding harmful effects of synthetic chemicals are the critical factors attributed to the market expansion.
The growing food scarcity and the increasing population have fueled the demand for sustainable and eco-friendly agricultural products. Agriculture microbial products are aiding numerous practices, such as soil improvement and crop protection. The uptake of these products offers various benefits, such as increased nutrient uptake, crop yield, and organic cultivation. Such benefits, coupled with the ever-growing population, have boosted their demand among consumers. Moreover, farmers are adopting efficient crop protection techniques due to increased urbanization and the shrinking of arable land. Thus, rising concerns for sustainable agriculture are fueling the demand for agriculture microbial products, which, in turn, is contributing to the market.
On the contrary, shorter shelf life and lower adoption of Agriculture Microbial products among farmers hampers market South & Central America agriculture microbial market.
- Based on type, the market is segmented into bacteria, fungi, virus, and others. The bacteria segment held 44.88% market share in 2022, amassing US$ 406.26 million. It is projected to garner US$ 963.01 million by 2028 to expand at 15.5% CAGR during 2022–2028.
- Based on formulation, the market is segmented into liquid and dry. The liquid segment held 69.68% market share in 2022, amassing US$ 630.76 million. It is projected to garner US$ 1,455.01 million by 2028 to expand at 14.9% CAGR during 2022–2028.
- Based on function, the market is segmented into crop protection and soil amendments. The crop protection segment held 87.41% market share in 2022, amassing US$ 791.25 million. It is projected to garner US$ 1,832.91 million by 2028 to expand at 15.0% CAGR during 2022–2028.
- Based on mode of application, the market is segmented into foliar spray, soil treatment, seed treatment, and post-harvest. The foliar spray segment held 51.42% market share in 2022, amassing US$ 465.51 million. It is projected to garner US$ 1,082.61 million by 2028 to expand at 15.1% CAGR during 2022–2028.
- Based on crop type, the market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. The fruits and vegetables segment held 37.97% market share in 2022, amassing US$ 343.71 million. It is projected to garner US$ 824.95 million by 2028 to expand at 15.7% CAGR during 2022–2028.
- Based on country, the South & Central America agriculture microbial market has been categorized into Brazil, Argentina and Rest of South & Central America. Our regional analysis states that Brazil captured 41.08% market share in 2022. It was assessed at US$ 371.89 million in 2022 and is likely to hit US$ 861.32 million by 2028, exhibiting a CAGR of 15.0% during the forecast period.
Key players dominating the South & Central America agriculture microbial market are BASF SE; Bayer AG; Certis USA LLC; Bio Works; Novozymes A/S; Chr. Hansen Holding A/S.; Syngenta Group; Koppert B.V and Marrone Bio Innovations, Inc.
- In, 2020; Syngenta Group and Novozymes A/S launched the microbial foliar fungicide with broad spectrum potential, TAEGRO. TAEGRO in the recommended crop management programs, protects against diseases such as powdery mildew and botrytis.
- In ,2021; BASF and AgBiome launched a new biological fungicide to the market in South & Central America, and key countries in the Middle East and Africa. The products developed by AgBiome are marketed as Howler® in the United States.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: firstname.lastname@example.org