Agricultural Inoculants Market Overview
Agricultural Inoculants, also referred to as microbial inoculants, are beneficial microorganisms (bacteria or fungi) encapsulated in carrier material and applied to the seed or soil for remediation and enhancement of agricultural productivity. The Agricultural Inoculants market based on different crop types has been segmented into cash crops, plantation crops, food crops, and fruits and vegetables. The Agricultural Inoculants Market is estimated to grow at a CAGR of 7.09% during the forecast period 2018–2023. The APAC Agricultural Inoculants market is forecast to grow at the highest CAGR of 9.08% during the forecast period, which can be mainly attributed to the adoption of organic soil microbial inoculants across various applications such as seed inoculants and soil inoculants.
Agricultural Inoculants Market Outlook
The global Agricultural inoculants market has been witnessing brisk growth in the recent years owing to the increasing awareness among people about the negative effects of chemical fertilizers and pesticides. Factors such as augmentation of organic farming, commercialization of inoculants, and so on, have been amplifying the agricultural inoculants market revenue. Agricultural Inoculants are employed in different applications such as seed inoculants and soil inoculants. The seed inoculants market is estimated to reach $249.45m by 2023, growing at a CAGR of 7.33% during the forecast period 2018–2023, The volume is projected to grow at a CAGR of 8.36% during the forecast period.
Agricultural Inoculants Market Growth Drivers
Shift from modern agricultural techniques to organic agriculture has boosted the growth of the Agricultural Inoculants market. Modern agricultural techniques pollute the environment by continuously using synthetic chemicals which also pollutes ground water as well as causes various health hazards to farm workers. Organic agriculture techniques uses non-chemical materials to provide better quality yields, inoculants are being preferred as best alternatives to chemical pesticides and fertilizers.
Agricultural Inoculants Market Challenges
The application of agricultural inoculants in small-scale, laboratory conditions and under field conditions produces varying results. A lot of research is underway to develop an inoculant adaptable to the varying environmental and climatic conditions. This is a major challenge for the agricultural inoculants market.
Agricultural Inoculants Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the agricultural inoculants market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the crop types of agricultural inoculants and their specific applications.
Agricultural Inoculants Market Report: Industry Coverage
Crop Type in Agricultural Inoculants Market: Food Crops, Cash Crops, Plantation Crops and Fruits & Vegetables.
By form in Agricultural Inoculants Market: Solid, Liquid and Granular.
Applications in Agricultural Inoculants Market: Seed Inoculation, Soil Inoculation and others.
The Agricultural Inoculants market report also analyzes the global region for the market. The regions and countries covered in the study include:
- North America: U.S, Canada, Mexico
- South America: Brazil, Argentina, Colombia
- Europe: U.K, Germany, Italy, France, Poland, Belgium, Spain, Russia
- APAC: China, Australia, South Korea, India, Japan
- Rest of the World: Middle East, Africa
Agricultural Inoculants Market Key Players Perspective
DowDupont Inc. is a major manufacturer of Agricultural Inoculants. The company has its headquarters in the U.S. and operates in EMEA and RoW regions. DowDupont Inc., due to its wide range of products, constant product launches and innovation has been successful in catering to a variety of customers.
Bayer, headquartered in Germany, is the next leading player in the Agricultural Inoculants market. It operates in the EMEA, North America, APAC and Latin America.
Agricultural Inoculants Market Trends
Soil microbes have opened up ample opportunities for the agricultural inoculants market. A wide variety of soil microbes are being utilized to increase crop production. The development of new inoculation techniques is making culturable microbes more attractive as these microbial inoculants provide benefits in terms of crop yield.