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Evogeneâ€™s biological predictive technology platform drives research and development of such novel ag-biological solutions and generates significant positive outcomes.
The global agricultural microbials market size is predicted to reach USD 10.97 billion by 2026, exhibiting a CAGR of 14.43% during the forecast period. The rising emphasis on maximizing crop yields and productivity in farming by major companies will subsequently spur business opportunities for the agricultural microbials market growth during the forecast period. Moreover, the growing popularity of biopesticides, biostimulants, and biofertilizers among farmers to achieve higher crop production results will boost the agricultural microbials market revenue in the foreseeable future, states Fortune Business Insights in a report, titled “Agricultural Microbials Market Size, Share and Industry Analysis, By Type (Bacteria, Fungi, Virus, and Others), Formulation (Dry and Liquid), Application Method (Foliar Spray, Soil Treatment, and Seed Treatment), Function (Soil Amendment and Crop Protection), Crop (Cereals, Oilseeds and Pulses, and Fruits and Vegetables), and Regional Forecast, 2019 2026” the market size stood at USD 3.75 billion in 2018.
The Report Lists the Main Companies in the Agricultural Microbials Market:
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Worldwide COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Collaboration between DuPont Pioneer and Evogene to Stimulate Growth
Dupont pioneer, a global leader and producer of advanced plant genetics in corn, cotton, rice, pearl millets, Mustard and Sunflower announced that it has signed a multiyear partnership agreement with Evogene, an Israeli Ag-Biotech trait development company focused on improving crop quality and productivity. The collaborative development includes the research and development of microbiome-based seed treatments in corn. The multiyear collaboration between Dupont pioneer and Evogene will contribute positively to the agricultural microbials market trends during the forecast period owing to the research, which will farmers to protect and expand corn yields with innovative bio-stimulant seed treatment products and companies’ pioneering technologies. Furthermore, President and CEO of Evogene, Ofer Haviv, said in a statement, “We believe microbiome-based biologicals will be an important and valuable tool for farmers in driving agricultural productivity.
Evogene’s biological predictive technology platform drives research and development of such novel ag-biological solutions and generates significant positive outcomes. We are extremely pleased and proud to collaborate with agriculture leader DuPont Pioneer a collaboration which will improve our potential for success and reduce our time to market.”
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Rising Innovation in Microbial-based Ingredients to Enhance Market Scope
The increasing RandD activities by key players to develop innovative microbial-based ingredients to aid farmers in vigorous crop production will bolster the healthy growth of the market in the forthcoming years. The rising applications of plant growth-promoting bacteria (PGPB) in the creation of biopesticides and biofertilizers have led to the improvement in agricultural microbials. Also, the growing commercialization of bacterial and fungal species for its beneficial target-action effects will consequently promote the agricultural microbials market share in the rthcoming years.
Increasing Awareness Among Farmers to Enable Speedy Expansion in North America
North America generated a revenue of USD 1.48 billion in 2018 and is predicted to expand rapidly during the forecast period owing to the growing awareness among farmers regarding the advantages of microbial in agriculture. The regulatory policies and framework by government organizations will favor the growth of the market in the region. Moreover, the increased efforts by key players to improve their distribution channels in the region will aid development in North America. Additionally, farmland expansion for the cultivation of high-value crops can successively create sales opportunities for the market in the US. Asia Pacific is predicted to rise at an exponential rate due to the increasing investment by key players in the development of biological solutions. Besides, the rising focus towards increasing crop productivity and efficiency by farmers will enable healthy growth in Asia Pacific.
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