According to the report titled ‘Global agricultural microbials market Size study, By Type (Bacteria, Protozoa, Viruses, Fungi); By Crop Type (Grains and Cereals, Pulses and Oilseeds, Vegetables and Pulses Others) By Function (Crop Protection, Soil Amendment); By Formulation (Liquid, Dry); By Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray) and Regional Forecasts 2020-2026’, available with Market Study Report, global agricultural microbials market was valued at USD 3.8 billion in 2019 and is expected to record a CAGR of 15% during 2020-2026.
 

Surging demand for food has impelled the demand for agricultural microbials, which in turn is primarily driving the growth of market. Agricultural microbials help in improving crop yields and subsequently enhance human health. They also boost plant growth, are environment friendly, and help in decreasing the overall cost of chemical fertilizers, thereby contributing towards the growth of global agricultural microbials market.
 

Notably, various beneficial soil microbes are used in agricultural practices such as fungi and bacteria that help decompose organic matter, release nitrogen, manage plant diseases etc.  Thus, rising adoption of agricultural microbials such as bioinsecticides, biofertilizers, biopesticides, and bio are further aiding the market expansion.
 

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However, shorter shelf life of the product may act as a restraining factor for global agricultural microbials market expansion. On the other hand, customer interest in organic products is likely to create lucrative opportunities, thereby augmenting global agricultural microbials market share.
 

Based on type, the market is split into fungi, viruses, protozoa, and bacteria. Speaking of crop type, the industry is bifurcated into vegetables & pulses, pulses & oilseeds, grains & cereals, and others. Elaborating on application spectrum, global agricultural microbials market is segmented into foliar spray, soil, and seed treatment.
 

Moving on to function type, the industry is categorized into soil amendment and crop protection segments whereas by formulation type, worldwide agricultural microbials market is classified into dry and liquid segments.
 

Citing the regional landscape, the report states that North America agricultural microbials industry is projected to grow substantially over the assessment period. The regional growth is attributable to surging demand for organic food, increased pervasiveness of crop diseases and introduction of stringent environment protection norms.
 

Meanwhile, Asia Pacific agricultural microbials industry is poised to accumulate notable gains over the analysis period, owing to high food demand in developing economies such as India and China, as well as growing significance of agricultural sector in the region.
 

Leading organizations in global agricultural microbials market are Bayer CropScience AG, Monsanto Company, Syngenta AG, Koppert B.V., Novozymes A/S, Sumitomo Chemical Co. Ltd., Nufarm Ltd., DOW Agrosciences LLC, Certis USA LLC, and BASF SE.