New York, United States , July 23, 2024 (GLOBE NEWSWIRE) -- The Global Agricultural Inoculants Market Size is to Grow from USD 486.48 Billion in 2023 to USD 956.59 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.10% during the projected period.
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Soil microbial inoculants are microorganisms that are used to improve soil qualities and perform bioremediation. They can also be utilized as sustainable alternatives to conventional inorganic fertilizers, or biofertilizers. Additionally, they provide particular advantages like biocontrol of pests and illnesses (biopesticides). One soil inoculant with a long and successful history of use is rhizobia, which fixes nitrogen in the soil; nevertheless, the performance of many new products varies in the field. Their enhanced effectiveness is being attributed, in part, to improved formulations and delivery systems, as well as a greater understanding of the interactions that take place between soil inoculants and plants, as well as the soil environment. Furthermore, helpful microorganisms are present in agricultural inoculants, often known as soil or microbial inoculants. These helpful microbes act as biopesticides, biofertilizers, and plant growth regulators. Inoculants are widely used in agriculture for a variety of crops all over the world. Microbial agricultural inoculants assist reduce the environmental impact of agrochemicals. Agricultural inoculants are in high demand due to the growing concern over the use of chemical pesticides and fertilizers and the growing desire for food grown organically. The practice of organic farming is becoming more and more well-liked throughout the world as more people become aware of the impacts of using conventional fertilizers and pesticides. Furthermore, organic farming is making use of more land. The need for naturally generated or organically obtained agricultural inputs, including agricultural inoculants, is expected to rise due to the rising number of organic farmers and the growing organic farming area. The substantial increase in demand for organic inputs to increase crop productivity is driving the compound annual growth rate (CAGR) of the agricultural inoculants market. However, it is essential to understand the long-term benefits of agricultural inoculants. Therefore, the market for these products might decline if farmers are not aware of agricultural inoculants.
Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the " Global Agricultural Inoculants Market Size, Share, and COVID-19 Impact Analysis, By Type (Bacterial Inoculants, Fungal Inoculants, and Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), By Application (Seed Coating, Soil Application, and Foliar Application), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The bacterial inoculants segment is anticipated to hold the greatest share of the global agricultural inoculants market during the projected timeframe.
Based on the type, the global agricultural inoculants market is divided into bacterial inoculants, fungal inoculants, and others. Among these, the bacterial inoculants segment is anticipated to hold the greatest share of the global agricultural inoculants market during the projected timeframe. They have microbes that can fix nitrogen, solubilize phosphate, and produce growth hormones. The most prevalent kind of bacterial inoculant is rhizobia, which is a symbiotic relationship between bacteria and legume plants that fixes atmospheric nitrogen. The bacterial inoculant that grows the fastest is phosphorus-solubilizing; it can release phosphorus from its insoluble forms in the soil.
The cereals & grains segment is expected to grow at the fastest CAGR in the global agricultural inoculants market during the projected timeframe.
Based on the crop type, the global agricultural inoculants market is divided into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Among these, the cereals & grains segment is expected to grow at the fastest CAGR in the global agricultural inoculants market during the projected timeframe. The market is expanding as a result of various countries, including China, Brazil, Spain, and the United States, using inoculants widely for cereal crops like corn, wheat, and rice. The United States is the country that produces the most wheat. Wheat is the third most significant crop grown in the United States, behind maize and soybeans. Brazil is the world's largest producer of corn and is among the top producers globally.
The seed coating segment is predicted for the largest revenue share in the global agricultural inoculants market during the estimated period.
Based on the application, the global agricultural inoculants market is divided into seed coating, soil application, and foliar application. Among these, the seed coating segment is predicted for the largest revenue share in the global agricultural inoculants market during the estimated period. It is a simple and efficient way to apply inoculants and ensures that the inoculant is in close contact with the seed. It involves coating seeds with an inoculant layer before planting. By doing this, it is ensured that the inoculant will come into contact with the seed directly and might start to operate as soon as the seed is planted.
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North America is expected to hold the largest share of the global agricultural inoculants market over the forecast period.
North America is expected to hold the largest share of the global agricultural inoculants market over the forecast period. Farmers are putting modern technologies to use to increase crop output and soil fertility as a result of the decline in public settlements and expansion in agriculture. The United States of America dominates the global market for agricultural inoculants due to its abundant fertile land and creative farming techniques. Farmers adopt organic farming practices to maintain crop productivity and soil fertility. As a result, the need and use of agricultural inoculants in the area have increased.
Europe is predicted to grow at the fastest pace in the global agricultural inoculants market during the projected timeframe. Corn, soybeans, and canola are expected to be cultivated in Germany and the UK, which will accelerate the spread of agricultural inoculants across Europe. Additionally, the quicker adoption of advanced technologies that maximize crop productivity while limiting their detrimental environmental effects would contribute to the growth of the regional market for agricultural inoculants. Microorganisms are widely used in countries such as France, Italy, and Spain as biocontrol agents and biofertilizers.
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 Agricultural Inoculants Market include BASF SE, Novozymes A/S, Bayer AG, Cortiva Agriscience, Syngenta AG, Verdesian Life Sciences, Lallemand Inc., XiteBio Technologies Inc., Agrinos AS, Koppert Biological Systems, Valent BioSciences LLC, Terramax, Rizobacter Argentina S.A., and others.
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Recent Developments
- In December 2023, Rootella, Groundwork BioAg's primary mycorrhizal inoculant, was authorized for sale in China, Argentina, and South Africa. Farmers now have greater access to a climate-smart solution that enhances the health of their soil and plants thanks to this breakthrough. By harvesting an additional 677 million acres (274 million hectares) of crops, the company's potential customer base is effectively increased, providing significant growth and impact opportunities.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Agricultural Inoculants Market based on the below-mentioned segments:
Global Agricultural Inoculants Market, By Type
- Bacterial Inoculants
- Fungal Inoculants
- Others
Global Agricultural Inoculants Market, By Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Global Agricultural Inoculants Market, By Application
- Seed Coating
- Soil Application
- Foliar Application
Global Agricultural Inoculants Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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