New York, United States , April 27, 2023 (GLOBE NEWSWIRE) -- The Global Inoculants Market Size is to Grow from USD 1.1 Billion in 2022 to USD 2.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.5% during the projected period. The global inoculants market is being driven by a combination of factors, including the increasing demand for agricultural produce, the trend of organic farming, the growing awareness among farmers about the benefits of inoculants, and the increasing global population. These factors are expected to continue driving the growth of the global inoculants market in the coming years.
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The global inoculants market is a rapidly growing market driven by the increasing demand for sustainable agriculture practices and the need to improve crop yields. Inoculants are microbial formulations that are used to improve plant growth and health, increase nutrient uptake, and reduce the use of synthetic fertilizers. Factors such as increasing demand for sustainable agriculture practices, the need for higher crop yield, and the growing trend of organic farming drive the market for inoculants. Inoculants are also becoming more popular as a way to reduce fertilizer use, increase nutrient availability, and promote soil health. Government initiatives promoting the use of microbial products in agriculture, as well as the growing adoption of organic farming practices, also have an impact on the global inoculants market. As farmers become more aware of the numerous benefits that inoculants provide in terms of increasing farm profitability, worldwide demand for inoculants is increasing significantly. Due to their ability to improve soil quality and crop growth, inoculants have grown in popularity. The global inoculants market is being driven by a number of factors, including rising agricultural produce demand, the trend towards organic farming, growing farmer awareness of the benefits of inoculants, and the rising global population. However, the availability of alternative products such as chemical fertilizers and pesticides is the primary impediment to the global inoculants market.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Inoculants Market Size, Share, and COVID-19 Impact Analysis, By Type (Agricultural Inoculants and Silage Inoculants), By Microbe (Bacterial and Fungal), By Form (Liquid and Dry), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The agricultural inoculants segment is expected to hold the largest share of the global inoculants market during the forecast period.
The global inoculants market is divided into two types: agricultural inoculants and silage inoculants. Agricultural inoculants are expected to account for the largest share of the global inoculants market during the forecast period. The growing demand for agricultural products, combined with the need for sustainable agricultural practices, is propelling the agricultural inoculants market forward.
The bacterial inoculants segment is expected to hold the largest share of the global inoculants market over the study period.
The global inoculants market is divided into bacterial and fungal microbes. The bacterial inoculants segment is expected to account for the largest share of the global inoculants market during the study period. The reason for the increase is due to the numerous benefits provided by bacterial inoculants, which include improved soil structure, increased nutrient availability, and improved plant growth and health. Another factor driving growth is the variety of benefits available, as well as the ease of production and distribution.
The liquid segment is anticipated to hold the largest share of the global inoculants market over the predicted timeframe.
The physical form of liquid and dry inoculants distinguishes the two major segments of the global inoculants market. Among these, the liquid segment is expected to account for the majority of the global inoculants market over the forecast period. The ease of use and ability to cover a large area quickly and efficiently are factors influencing the growth of this segment.
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North America is estimated to hold the largest share of the global inoculants market during the predicted timeframe.
North America had the largest market share in the global inoculants market as of 2022. This is due to the high adoption rate of inoculants in the United States and Canada, which is being driven by increased demand for sustainable agriculture practices and increased awareness of the benefits of inoculants. The United States is the largest market for inoculants in North America, with corn and soybean crops accounting for a sizable portion of the market. The Asia-Pacific region is expected to be the fastest-growing market for inoculants in the coming years, with significant growth potential. China, India, Japan, Australia, and other countries are part of the region. One of the major drivers of the inoculants market's growth is the rising demand for food products in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Inoculants Market include BASF SE, DSM, Corteva Agriscience, Strong Microbials, NeuGen Biologicals Pvt Ltd, Cargill Incorporated, Provita Supplements GmbH, Verdesian Life Sciences, Microbial Biological Fertilizers International, Novozymes A/S, Bayer AG, Terramax, Inc., Kemin Industries, Inc, Agri Life, Agrauxine, and Others.
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Recent Developments
In November 2022, Corteva Agriscience has announced the acquisition of The Stoller Group, Inc., one of the industry's largest independent biologicals companies. This acquisition would provide Corteva with immediate scale and profitability, with EBITDA margins that would be accretive to the company.
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