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Agricultural Microbial market Report
The market's expansion is driven by the restoration of degraded lands, where microbial solutions play a key role in soil and ecosystem rehabilitation.
WILMINGTON, DE, UNITED STATES, October 21, 2024 /EINPresswire / -- Allied Market Research recently published a report titled, "Agricultural Microbial Market by Microbe Type (Bacteria, Fungi, Viruses, and Others), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Others), Formulation (Liquid and Dry), and Application (Soil Treatment, Seed Treatment, Foliar Spray, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033." The agricultural microbial market was valued at $7.1 billion in 2023 and is projected to reach $27.7 billion by 2033, growing at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2033.
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Key Drivers and Opportunities
- Growth Factors: The market's expansion is driven by the restoration of degraded lands, where microbial solutions play a key role in soil and ecosystem rehabilitation. These microbes aid in land restoration and biodiversity conservation.
- Opportunities: The integration of microbial applications with digital farming technologies offers real-time monitoring and optimization, creating lucrative opportunities. However, high initial costs for microbial products could slow growth.
Market Segmentation Highlights
- Microbe Type: The bacteria segment is expected to dominate due to their applications in nitrogen fixation, disease suppression, and nutrient solubilization.
- Crop Type: Cereals & grains are projected to lead the market, with microbial inoculants enhancing seed germination and improving crop yields.
- Formulation: Liquid formulations are expected to lead, favored for ease of application and enhanced coverage on plant surfaces.
- Application: Soil treatment is anticipated to dominate as microbial agents improve soil fertility, structure, and plant health.
Regional Insights
- Asia-Pacific: This region is expected to maintain dominance through 2033 due to the widespread use of biofertilizers and biocontrol agents in countries like India and China. Japan and South Korea are advancing microbial biotechnology, while Australia and New Zealand focus on microbial solutions for sustainable livestock farming.
Major Players in the Market
Key companies in this market include:
- Atos SE
- Siemens Energy
- Schneider Electric
- GE Vernova
- Terex Corporation
- Vestas
- Iberdrola, S.A.
- JinkoSolar Holding Co., Ltd.
- AutoGrid Systems, Inc.
- Constellation
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.