New York, US, July 14, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Agricultural Inoculants Market Information by Type, Mode of Application, Crop Type, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 1,546.9 Million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 10.13% during the review timeframe.
Market Scope:
Beneficial microorganisms are present in agricultural inoculants, commonly referred to as soil or microbial inoculants. These advantageous bacteria function as biopesticides, biofertilizers, or promoters of plant development. For several crops, inoculants are used extensively in agriculture around the world. To increase plant nutrition, crop productivity, and guard against soil-borne illnesses, it is either sprayed on the seed or mixed into the soil. By boosting mineral intake and stimulating the generation of plant hormones, it is also used to enhance plant growth. For cereals, grains, oilseeds, fruits, vegetables, silage, and fodder crops, inoculants are a potential substitute for chemical fertilizers and pesticides because they are environmentally friendly. Additionally, microbial inoculants assist in reducing the environmental damage caused by agrochemicals.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 1,546.9 Million |
| CAGR | 10.13% (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Mode of Application, Crop Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Demand for Organic Products |
| Promotion of Organic Farming By Government Authorities |
Competitive Dynamics:
The well-known players functioning in the Agricultural Inoculants Market are
- Corteva, Inc. (U.S.)
- BASF SE (Germany)
- Bayer AG (Germany)
- Novozymes A/S (Denmark)
- Brettyoung (Canada)
- Rizobacter Argentina S.A. (Argentina)
- Italpollina S.p.A. (Italy)
- Advanced Biological Marketing Inc. (U.S.)
- Soil Technologies Corporation (U.S.)
- Verdesian Life Sciences, LLC (U.S.)
Market Dynamics:
Market Drivers:
The use of organic farming is expanding globally as people become more aware of the negative consequences of chemical pesticides and fertilizers. Additionally, the global area used for organic farming is expanding. The primary drivers influencing market expansion are the expanding agricultural sector and the rising use of organic farming techniques. Governments have implemented strict rules for the use of crop protection goods with chemical bases and have raised awareness of the advantages of bio-based products, which has increased demand for agricultural inoculants.
Agricultural inoculants are being used more and more frequently alongside organic manure to enhance soil fertility and plant health as a result of increased concerns about agricultural sustainability, soil health, and environmental safety. The industry is also growing as a result of rising consumer knowledge of the harmful effects of chemically produced pesticides and fertilizers. Artificial additions are known to disrupt the microbial balance, pollute the soil, and lower the concentrations of biocontrol agents.
As a result, agricultural inoculants that offer soil and plant life with natural defense are becoming more and more popular. Another element supporting the market's expansion is the increased need for food as a result of the growing population, coupled with the scarcity of arable land. Agricultural inoculants contribute to crop yield growth, helping to fulfill the world's expanding food need. It is anticipated that further variables, such as numerous advancements in agricultural sciences and the adoption of beneficial governmental regulations, will fuel the industry even more.
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Market Limitations
Farmers in developing countries are still unaware of or only vaguely aware of the advantages of agricultural vaccines. Despite the fact that agricultural biologicals are thought to benefit crops and the environment, some farmers in underdeveloped countries are seen as less effective than those who use chemical inoculants. In developing nations like those in Asia Pacific and the Middle East and Africa, acceptability is quite low. In addition, agriculture serves as a key source of income for a sizable portion of the population in a number of nations, including Argentina, South Africa, Indonesia, and India. There, farmers are reluctant to take chances when growing their crops, which restricts the usage of inoculants.
Industry analysts claim that due to crop inoculants' short shelf life, several dealers in India are unable to stock and sell them. So, it is anticipated that limited knowledge and shelf life will restrain the market's expansion for agricultural inoculants.
COVID-19 Analysis
The international agricultural inoculant business has also been greatly affected by the COVID-19 global pandemic, which has caused a sharp increase in cases. The availability of raw materials, the supply chain, and the imbalance between supply and demand have all been negatively impacted by the virus. The COVID-19 outbreak has caused temporary closures of international and national borders all around the world. The entire supply chain is expected to be hampered by the border shutdown. It is anticipated that tight restrictions will have a negative impact on the supply chain, which will hinder the production, distribution, and sale of agricultural inoculants.
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Market Segmentation:
By Type
In 2019, the market sector for bacterial inoculants reported holding the most market share. The market for bacterial inoculants is anticipated to expand because to the increased usage of microbial-based solutions to control pests and enhance soil and crop quality.
By Application Mode
Since inoculating seeds with microorganisms helps to improve seed quality and protect the seed against pests and diseases, the seed inoculation category was reported as holding the largest market position in 2019.
By Crop Type
In 2019, the cereals and grains segment reported holding the largest market share, contributing to the majority of transactions involving agricultural inoculants. The widespread consumption of cereal grains as a staple diet will likely accelerate the development of the cereal & grains market.
Regional Analysis:
Due to their extensive agricultural fields and sustainable farming techniques, North America and Latin America are the two most important regions for the global market for agricultural inoculants.
China and India are the next two largest agricultural markets in the world after the Asia Pacific area. This area has a great potential for agricultural output and is in the process of transforming its agricultural industry. The advantages of bio-based goods in agriculture are being recognized by farmers. In the near future, this region may serve as a viable market for agricultural inoculants on a global scale.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
