According to the latest report by IMARC Group, titled “Agricultural Inoculants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global agricultural inoculants market size reached US$ 459.6 Million in 2022. An agricultural inoculant, also known as microbial inoculant, is composed of beneficial microorganisms like fungi, bacteria, protozoa, viruses, and algae. It is mainly used for supplementing the nutrient needs of crops and agroforestry in drylands. It is also utilized for improving crop yield, preventing soil-borne diseases, promoting growth in plants, and enhancing mineral uptake. As it is environment-friendly, it is increasingly being adopted around the world.
Global Agricultural Inoculants Market Trends:
The chemically synthesized fertilizers and pesticides lead to soil pollution, microbial imbalance and reduce the levels of biocontrol agents in the soil. This represents one of the key factors catalyzing the need for agricultural inoculants to protect plant and soil health. Apart from this, the increasing adoption of organic farming practices across the globe is also propelling the market growth. Furthermore, leading market players are focusing on introducing numerous innovations in the field of agricultural sciences. This, along with the rising demand for food due to the increasing global population and limited availability of cultivable land, is creating a favorable market outlook. Besides this, the market is also driven by the significantly expanding agricultural industry worldwide. Looking forward, the market value is projected to reach US$ 705.3 Million by 2028, expanding at a CAGR of 7.1% during the forecast period (2023-2028).
- Based on the type, the market has been classified into plant growth-promoting microorganisms, bio-control agents, plant-resistant stimulants, and others.
- On the basis of the microbes, the market has been categorized into bacteria (rhizobacteria, nitrogen-fixing bacteria, phosphate-solubilizing bacteria, and others); fungi (Trichoderma Spp, mycorrhiza, and others); and others.
- Based on the mode of application, the market has been segregated into seed inoculation, soil inoculation, and others.
- On the basis of the form, the market has been divided into solid, liquid, granular, and others.
- Based on the crop type, the market has been segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (Japan, India, China, South Korea, Indonesia, Australia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others); and Middle East and Africa (the United Arab Emirates, Turkey, Saudi Arabia, Iran, and others).
- The competitive landscape of the market has been examined, with some of the key players being Advanced Biological Marketing, Inc., BASF SE, The Dow Chemical Company, Bayer AG, Brett-Young Seeds Limited, Novozymes A/S, Verdesian Life Sciences LLC, XiteBio Technologies, Inc., and Precision Laboratories, LLC.
|Base Year of the Analysis
||Type, Microbes, Mode of Application, Form, Crop Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
||Advanced Biological Marketing Inc., BASF SE, Dow Chemical Company, Bayer Crop Science, Brettyoung, Novozymes A/S, Verdesian Life Sciences LLC, XiteBio Technologies Inc. and Precision Laboratories LLC
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