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 & 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 & Vegetables), and Regional Forecast, 2019 – 2026” the market size stood at USD 3.75 billion in 2018.
Collaboration between DuPont Pioneer & 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.”
Rising Innovation in Microbial-based Ingredients to Enhance Market Scope
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