The agriculture microbial in South & Central America is expected to grow from US$ 905.23 million in 2022 to US$ 2,105.11 million by 2028. It is estimated to grow at a CAGR of 15.1% from 2022 to 2028.
Rising Concerns Regarding Sustainable Agriculture
The growing food scarcity and the increasing population have fuelled the demand for sustainable and eco-friendly agricultural products.Agriculture microbial products are aiding numerous practices, such as soil improvement and crop protection.
The uptake of these products offers various benefits, such as increased nutrient uptake, crop yield, and organic cultivation.Such benefits, coupled with the ever-growing population, have boosted their demand among consumers.
Moreover, farmers are adopting efficient crop protection techniques due to increased urbanization and the shrinking of arable land. Thus, rising concerns for sustainable agriculture are fuelling the demand for agriculture microbial products, which, in turn, is contributing to the market.
The South & Central agriculture microbial market is segmented into Brazil, Argentina, and the Rest of South & Central America.The agriculture microbial market is expected to experience sustainable growth in South & Central America owing to the increasing replacement of synthetic chemicals with agriculture microbial to meet the growing demand for sustainable agriculture.
Inter-American Foundation (IAF) partners across the region are adopting sustainable agriculture practices to improve access to healthy food, meet growing food demand, and protect the local environment.Additionally, various organizations in the region are promoting sustainable agriculture through community groups.
For instance, Centro de Estudos e Promoção da Agricultura de Grupo (CEPAGRO) and IAF promote sustainable agriculture by sharing their ideas and best practices in their farmers’ network.Such initiatives to promote sustainable agriculture has anticipated the increased adoption of agriculture microbial.
Moreover, organic agriculture is growing rapidly after the onset of the COVID-19 pandemic owing to its contribution to growing consumer demand for healthy and reliable food and sustainable development. Thus, the growing demand for sustainable agriculture practices in the region is anticipated to boost the agriculture microbial market growth during the forecast period.
South & Central America Agriculture Microbial Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Agriculture Microbial Market Segmentation
The South & Central America Agriculture Microbial Market is segmented into type, formulation, function, mode of application, and crop type and country.
Based on type, the market is segmented into bacteria, fungi, virus, and others.The bacteria segment registered the larger market share in 2022.
Based on formulation , the market is segmented into liquid and dry.The liquid segment held the larger market share in 2022.
Based on function, the market is segmented into crop protection and soil amendments.The crop protection segment held the larger market share in 2022.
Based on mode of application , the market is segmented into foliar spray, soil treatment, seed treatment, and post-harvest. The foliar spray segment held the largest market share in 2022. Based on crop type, the market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others .The fruits and vegetables segment held the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and Rest of South and Central America. Brazil dominated the market share in 2022. BASF SE; Bayer AG; Certis USA LLC; BioWorks; Novozymes A/S; Chr. Hansen Holding A/S.; Syngenta Group; Koppert B.V, and Marrone Bio Innovations, Inc are the leading companies operating in the agriculture microbial in the region.