The global agricultural microbial industry is prophesied to grow with rising adoption of natural and organic farming worldwide.
The growing population necessitates the rising demand for food, which in turn, increase the crop productivity.
Precision Farming in North American Countries Drives Growth in the Industry
Rising demand for quality food in North America is driving the global agricultural microbial industry. Furthermore, precision farming in this region is expected to create growth opportunities for the industry in the coming years. Also, rising environmental protection laws in North America is expected to boost the industry by 2026.
The industry in Asia Pacific is anticipated to register gradual growth during the forecast years. Rising demand for food and its products in India and China are likely to create ample growth opportunities in the global industry. Adoption of production practices and innovative technologies to safeguard crop yield in this region are further helping the industry to grow by 2026.
The industry in Europe is expected to witness considerable growth between 2018 and 2026. Stringent regulations regarding the usage of synthetic chemicals and pesticides in Europe are likely to push the industry’s growth.
DTI and Copenhagen University Received Funds to Ensure Sustainable Agriculture
The demand for agricultural microbes has been increasing over the past few years. Agricultural microbes are eco-friendly, cost-effective, and improves crop yield by protecting them from pests and weeds. According to the American Academy of Microbiology, agricultural microbial solutions can increase crop productivity by up to 20%. The study further revealed that these solutions have the ability to reduce pesticide and fertilizer requirement by 20% over a span of 20 years.
“Several start-ups re also planning to pave their way into the agricultural microbial industry by offering sustainable solutions to control weeds and pests,” said a lead analyst at Fortune Business Insights. “Limited regulatory guidelines and requirement of low funds are attracting start-ups to explore this business,” he added.
Danish Technological Institute (DTI) and University of Copenhagen received funds from Danish Innovation Fund in November 2018. These two institutions are expected to organic solutions for sustainable agricultural crop production. In addition to this, the project called “Bac4CroP” will run for four years with a fund of around US$ 4.43 Million.
Among agricultural microbial types, bacteria are expected to dominate the global industry as bacterial microorganisms help to decompose organic matter. Moreover, Rhizobium, a bacterial microorganism helps to deliver stability by fixing atmospheric nitrogen into the soil and eventually enrich soil fertility.
Ginkgo Bioworks Joined Hands with Bayer AG to Develop Plant Microbiome
Companies are likely to focus on developing innovation solutions to fulfil the requirements of end-users. These companies are planning to invest heavily in research and development (R&D) activities to develop novel agricultural microbial products. Also, companies are continuously involving in new initiatives and adopting strategies to stay relevant in the industry. Some of the strategies are mentioned below:
- In 2018, Marron Bio Innovations launched a new biological seed and soil platform called TerraConnect. Later, the company received funds from the U.S. Patent and Trademark office in Feb 2019. These funds were claimed for an active ingredient called MBI- 110 bacterium used in Amplitude and Stargus bio fungicides.
- Ginkgo Bioworks and Bayer joined an agreement in March 2017. The aim of this joint venture was to focus on plant microbiome development mainly for nitrogen fixation in plants.
The report profiles some of the leading players in the global agricultural microbial industry. These players include Monsanto, BASF, Sumitomo Chemical Co., Novozymes, Certis USA LLC, ChemChina, Syngenta, BioWorks, DowDuPont, Koppert, and Arysta LifeScience.