Inoculants - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Inoculants Market is accounted for $723.67 million in 2019 and is expected to reach $1,431.41 million by 2027 growing at a CAGR of 8.9% during the forecast period. Increase in feed grain and compound feed prices, shift in the trend toward the adoption of organic and environment-friendly farming practices and environmental concerns related to the usage of fertilizers and pesticides are propelling the market growth. However, shelf life of agricultural inoculants and limited awareness regarding both agricultural and silage inoculants are hampering the market growth.
Inoculants are a blend of microorganisms that improve the fertility and health of the soil. It is also known as microbial inoculants that help in improving host plant nutritional status and reduce the need for fertilizer inputs. Inoculants contain beneficial microbes, including bacteria, fungi, protozoa, and algae that promote plant growth and help to suppress pests or diseases.
Based on the microbes, the fungal segment is anticipated to hold considerable market share during the forecast period due to the rise in organic farming practices at a global level. Fungal inoculants help plants to absorb phosphorus and other nutrients for use. By geography, South America is going to have a lucrative growth during the forecast period. South America is one of the largest regions that has adequate organic agricultural land area, due to which the demand for agricultural inoculants remains high in this region
Some of the key players profiled in the Inoculants Market include BASF SE, Advanced Biological Marketing Inc, Archer-Daniels-Midland Company, Bayer AG, BIOMIN Holding GmbH, BrettYoung, Cargill Incorporated, Corteva, Novozymes A/S, Precision Laboratories LLC, Provita Supplements GmbH, Queensland Agricultural Seeds Pty, Verdesian Life Sciences and XiteBio Technologies Inc.
Crop Types Covered:
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Other Crop Types
• Agricultural Inoculants
• Silage Inoculants
• Other Microbes
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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