Inoculants Market:
Growth opportunities in the inoculants market look promising over the next six years. This is mainly due to the increasing environmental concerns related to the use of pesticides and fertilizer, growing adoption of organic and sustainable farming practices, the expanding awareness about crop health, surge in the poultry industry, use of silage as feedstock for biofuel production, the rising rate of the livestock industry, and the adoption of advanced farming practices.
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Inoculants Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent factors augmenting the growth of the global inoculant market include an increase in the adoption of sustainable and organic farming practices and growing environmental concern towards the use of fertilizers and pesticides. The surge in the poultry industry, the use of silage as feedstock for biofuel production, and the increasing rate of the livestock industry are some other factors expanding the growth of the inoculant market size.
A boost in demand for organically produced goods among customers worldwide because of the more natural and safe approach that encourages plant and soil health also promotes the use of microbial inoculants market. Additionally, the expanding demand for more productivity, growing awareness about crop health, and advanced farming practices are anticipated to strengthen the growth of the global inoculants market. The restricted availability of fertile land, increasing population, and changing climatic conditions further propel the demand for agriculture inoculants. Moreover, the increasing prices of fertilizers are expected to surge the demand for inoculants because of their cost-effectiveness compared to chemical fertilizers.
However, the restrained awareness related to the inoculants among farmers in developing countries and the lower shelf life of agricultural inoculants is predicted to hinder the inoculant market during the forecast period.
Crop Type segment Drivers
Based on crop type, the market is segmented into oilseed and pulses, cereals & grains, fruits & vegetables, forage, and others. The cereal & grains segment is anticipated to expand at a faster CAGR during the forecast period. The rising population rate, combined with the growing consumption of food grains like wheat, barley, rice, and corn crops globally, has resulted in an increase in demand for better yield and improved quality of grain and cereal crops. This factor is boosting the agricultural inoculant market. Expansion in demand for forage material to feed livestock, surging demand for dairy products and other animal products are some of the factors that augment the growth of the forage segment of the inoculant market.
Regional Drivers
On the basis of region, Asia-Pacific is predicted to lead the market over the forecast period owing to the rising population, boost in per capita disposable incomes, coupled with the increasing demand for food products in developing countries, like Sri Lanka, India, Indonesia, and China. The factors driving the growth of the silage inoculant market in this region include the industrialization of livestock production and an increase in the meat-consuming population.
Inoculant Market’s leading Manufacturers:
- BIOMIN Holding GmbH
- Cargill Incorporated
- LLC
- BASF SE
- Bayer AG
- XiteBio Technologies Inc.
- Precision Laboratories
- Archer-Daniels-Midland Company
- Novozymes A/S
- Verdesian Life Sciences
Inoculant Market Segmentation:
Segmentation by Type:
- Agricultural Inoculants
- Plant-Growth-Promoting Microorganisms
- Biocontrol Agents
- Plant-Resistant Stimulants
- Silage Inoculants
- Homofermentative
- Heterofermentative
Segmentation by Microbe:
- Bacterial
- Rhizobacteria
- Phosphobacteria
- Azotobacter
- Lactobacillus
- Pediococcus
- Enterococcus
- Others
- Fungal
- Mycorrhiza
- Trichoderma Spp.
- Others
- Other Microbes
Segmentation by Microbe:
- Oilseeds & Pulses
- Cereals & Grains
- Fruits & Vegetables
- Forage
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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