Westford, USA, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The global Agricultural Inoculants market size is expected to reach USD 745.98 billion by 2030 and exhibit a CAGR of 7.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing global population and the need for increased food production, the emphasis on sustainable agricultural practices to improve soil health and reduce chemical fertilizer use, the rising demand for organic and non-GMO food products, and the increasing awareness of the benefits of microbial inoculants in enhancing crop yield and nutrient uptake is fueling the market's growth.
According to SkyQuest's latest global research of the Agricultural Inoculants market, increasing use of precision agriculture techniques, such as digital farming and data-driven decision-making, to optimize inoculant application, a growing focus on developing customized microbial solutions for specific crops and soil conditions, the rise of biostimulants that complement inoculants to enhance plant growth and yield, and the adoption of sustainable agriculture practices that prioritize soil health and reduced chemical inputs, are the trends that aid in the market's growth.
Browse in-depth TOC on "Agricultural Inoculants Market"
- Pages - 157
- Tables - 63
- Figures -77
Agriculture innolucents are innovative products and solutions that use beneficial microorganisms, such as bacteria and fungi, to improve crop yields, reduce pesticide use, and increase soil health. They are a sustainable and environmentally friendly alternative to traditional chemical fertilizers and pesticides.
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Prominent Players in Agricultural Inoculants Market
- AgBiome
- AgroFresh
- BioConsortia
- Biotalys
- Certis Biologicals
- Chr. Hansen
- Corteva Agriscience
- FMC Corporation
- Indigo Ag
- Koppert Biological Systems
- Lallemand
- Marrone Bio Innovations
- Mitsui Chemicals Agro
- Novozymes
- Nufarm
- Olam International
- Syngenta Group
- UPL
- Valent USA
- Valagro
- Van Iperen
- Verdesian Life Sciences
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 458.53 Billion |
| 2030 Value Projection | 745.98 Billion |
| CAGR | 7.2% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Nitrogen-fixing Inoculants Demand to Grow Substantially in the Forecast Period
Nitrogen-fixing inoculants dominate the global online market as they are commonly used for leguminous crops such as soybeans, peanuts, and various beans and peas. These crops have a high demand for nitrogen, and rhizobia bacteria form symbiotic relationships with their roots, enabling nitrogen fixation from the atmosphere. This makes nitrogen-fixing inoculants essential for these crops.
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Legumes are the Leading Application Segment
In terms of application, legumes are the leading segment due to driving the sales of agricultural inoculants. Nitrogen-fixing inoculants containing rhizobia bacteria are essential for legume crops because they form symbiotic relationships with these plants, enabling nitrogen fixation. Legumes have a high nitrogen demand, and inoculants play a crucial role in meeting this demand efficiently.
North America is the leading Market Due to the Technological Advancements
North America, including the United States and Canada, has historically been a significant market for agricultural inoculants. Factors contributing to this dominance include the extensive cultivation of crops such as soybeans, corn, and wheat, which benefit from nitrogen-fixing inoculants. The region's emphasis on sustainable farming practices and environmental stewardship has also driven the adoption of inoculants to reduce synthetic fertilizer use.
A recent report thoroughly analyzes the major players operating within the Agricultural Inoculants market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Agricultural Inoculants.
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Key Developments in Agricultural Inoculants Market
- In May 2023, Bayer Crop Science launched a new line of agricultural inoculants for rice crops. The new inoculants are designed to improve crop yields and resistance to pests and diseases.
- In April 2023, BASF SE announced that it had acquired the assets of AgBiTech, a leading provider of agricultural inoculants. The acquisition will strengthen BASF's position in the global agricultural inoculants market.
Key Questions Answered in Agricultural Inoculants Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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