Rising Concerns Regarding Sustainable Agriculture
According to the United Nations (UN), the world population is expected to reach 9.8 billion in 2050 and 11.2 billion in 2100. With the significantly increased population, the agriculture sector across the region has to double its food production by 2050 and reduce the reliance on inorganic fertilizers and pesticides. Thus, the growing population has surged the demand and added to concerns for food to feed the growing population. In recent years, food insecurity has been moderate, affecting just over 30% of the world's population. According to the US Food and Agriculture Organization, around 720 to 811 people had to bear hunger in the world in 2020. The prevalence of undernourishment jumped from 8.4% in 2019 to around 9.9% in 2020.The growing food scarcity and the increasing population have fuelled 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 fuelling the demand for agriculture microbial products, which, in turn, is contributing to the market.
Market Overview
The North America agriculture microbial market is segmented into the US, Canada, and Mexico. North America is one of the most significant regions for the agriculture microbial market due to increasing awareness about the benefits of using microbial in agriculture over synthetic chemicals. The use of synthetic chemicals becomes ineffective as they develop pest resistance and harm the production of the crop. Agriculture microbial quickly decompose, even if they are applied in small quantities, which leads to lower exposure and prevents the environmental problems faced by synthetic chemicals.
North America Agriculture Microbial Market Segmentation
The North America agriculture microbial Market is segmented into type, formulation ,function ,mode of application , and crop type and country.
Based on type, the market is segmented into bacteria, fungi, virus, and others. The bacteria segment registered the larger market share in 2022. Based on formulation , the market is segmented into liquid and dry. The liquid segment held the larger market share in 2022. Based on function , the market is segmented into crop protection and soil amendments. The crop protection segment held the larger market share in 2022. Based on mode of application , the market is segmented into foliar spray, soil treatment, seed treatment, and post-harvest. The foliar spray segment held the largest market share in 2022. 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 the largest market share in 2022. Based on country, the market is segmented into US ,Canada and Mexico. US dominated the market share in 2022. BASF SE ; Bayer AG ; Certis USA LLC ; Bio Works ; Novozymes A/S ; Chr. Hansen Holding A/S ; Syngenta Group ; Nufarm ; Koppert B.V, and Marrone Bio Innovations, Inc., are the leading companies operating in the agriculture microbial in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,883.52 Million |
| Market Size by 2028 | US$ 6,468.57 Million |
| CAGR (2022 - 2028) | 14.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Agriculture Microbial Market is valued at US$ 2,883.52 Million in 2022, it is projected to reach US$ 6,468.57 Million by 2028.
As per our report North America Agriculture Microbial Market, the market size is valued at US$ 2,883.52 Million in 2022, projecting it to reach US$ 6,468.57 Million by 2028. This translates to a CAGR of approximately 14.4% during the forecast period.
The North America Agriculture Microbial Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Agriculture Microbial Market report:
The North America Agriculture Microbial Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Agriculture Microbial Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Agriculture Microbial Market value chain can benefit from the information contained in a comprehensive market report.
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