Market Size of Europe Agricultural Microbials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Agricultural Microbials Market Analysis
The European Agricultural Microbials Market is estimated to witness a CAGR of 15% during the forecast period. Governing bodies throughout the world, particularly in Europe, are now implementing legislative mandates with the objective of decreasing dependence on pesticides in agriculture to increase consumer and environmental safety. In order to reduce the risks associated with pesticide applications and reduce dependency on their use, Directives are expected to promote low pesticide-input by implementing integrated pest management (IPM), and provide the means to establish the necessary conditions and measures to employ these practices, as well as to ensure the security of commercial products. One major trigger is stricter regulation surrounding chemical pesticides. These regulations mean that an increased number of chemicals are under regulatory scrutiny. This, along with a high hit rate in the screening and development of a microbial, makes microbial more attractive than conventional pesticides, when it comes to launching new products in the market. Europe's ban on neonicotinoid pesticides from 2013 to 2015 is an example and may well drive many of the region's growers to seek alternatives for biopesticides, in order to protect their crops. Recent changes to legislation in the European Union (EU) have paved the way for development and greater adoption of microbial pesticides over synthetic pesticides. Regardless of the fact that there still exists a lot of restraint throughout the agriculture industry to shift to newer technologies and the microbial industry is expected to continue to gather market share through switching with new products being rapidly launched. Biopesticides are relatively new to the market and it is immensely needed for the growers to learn more about them. Growers require assistance in case of: proper application timing and frequency, the most effective application methods to ensure thorough crop coverage, target pest identification, pest/disease pressure and life cycle dynamics, when adopting these new technologies.
