InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Crop Microbiome Market – (By Type (Bacteria, Fungi, Virus, Other), By Application (Cereals, Oilseeds & Pulses, Fruits & Vegetables, Other)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Crop Microbiome Market is valued at US$ 1.1 Bn in 2023, and it is expected to reach US$ 2.7 Bn by 2031, with a CAGR of 11.5% during the forecast period of 2024-2031.
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The microbial population surrounding a plant is known as its crop microbiome and is crucial to its growth and survival. Microbiomes consist of bacteria, fungi, viruses, and protozoa, among other microorganisms, that interact to build a microbial ecosystem with the plant’s surroundings. These microbes can be involved in many aspects of agricultural production, such as the encouragement of plant development, soil fertility and quality, biocontrol, stress tolerance, and the creation of high-yield crops. The primary market growth propellers are the increasing use of organic farming methods, lower development costs for microorganisms compared to traditional chemical pesticides, and increased public awareness and knowledge of the advantages of using microorganisms in agriculture.
List of Prominent Players in the Crop Microbiome Market:
- BASF SE
- Certis USA LLC
- Marrone Bio Innovations Inc
- Sumitomo Chemical (Valent Biosciences LLC)
- Upl Ltd. (Arystalifescience Ltd.)
- Syngenta AG
- Chr. Hansen Holdings A/S
- Isagrospa
- Koppert BV
- Bioag Alliance (Bayer/Novozymes)
- Lallemand Inc.
- Verdesian Life Sciences LLC
- Italpollina AG
- Precision Laboratories LLC
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Market Dynamics:
Drivers-
Heightened consciousness on environmental sustainability and the need for environmentally friendly agricultural practices are driving the growing demand for sustainable agriculture and driving the adoption of crop microbiome solutions. Additionally, the growing desire from consumers for produce that is both healthy and free of residues is fueling the market for pesticide-free and environmentally friendly crops. The market for crop microbiomes has grown as a result of this. Biotechnological improvements in genetic engineering and microbial research have made it easier to create tailored and improved microbiome-based solutions to increase crop quality.
Challenges:
The market for crop microbiomes is fragmented and lacks standardization. This is because numerous businesses are selling various items, which leads to a lack of uniformity and consistency in the efficacy and quality of the products. Additionally, a lack of knowledge and instruction among farmers regarding the benefits and application of microbiome treatments may impede the rate of adoption. Obtaining regulatory approval for microbiome products can be a costly and time-consuming procedure that impedes innovation and market expansion.
Regional Trends:
The North American crop microbiome market is anticipated to note a major market share in terms of revenue. The adoption of organic agricultural practices and farmers’ growing awareness of the environmental benefits of microorganisms is primarily responsible for this market’s size in the region. Furthermore, a number of government agencies and organizations, like the U.S. Department of Agriculture and the National Science Foundation, are actively working to produce crop microbiomes and to persuade farmers to utilize them in order to improve crop quality and productivity.
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Recent Developments:
- In April 2022, Ginkgo Bioworks and Bayer CropScience inked a deal whereby Ginkgo Bioworks will purchase Bayer’s internal discovery and lead optimization platform, as well as its West Sacramento Biologics Research & Development location. This arrangement will probably hasten the global growers’ access to Bayer’s diverse portfolio of superior microbial-based solutions.
- In March 2022, The Mosaic Company and BioConsortia, Inc. have entered into a new contract for the development and distribution of microbial products that fix nitrogen for rice, corn, wheat, fruit, and vegetables in Thailand, Vietnam, China, and India.
Segmentation of Crop Microbiome Market-
By Type-
- Bacteria
- Fungi
- Virus
- Other
By Application-
- Cereals
- Oilseeds & Pulses
- Fruits & Vegetables
- Other
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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To view the original version on ABNewswire visit: Crop Microbiome Market Insights: Trends, Innovations, and Future Prospects