Global Agricultural Inoculants Market Analysis & Trends - Industry Forecast to 2028

Global Agricultural Inoculants Market Analysis & Trends - Industry Forecast to 2028

Agricultural Inoculants: Market Size

From $3.84 billion in 2020, the global Agricultural Inoculants market is projected to reach $7.65 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 9.0% from 2020 - 2028 timeframe. Some of the prominent trends that the market is witnessing include, rising health awareness, environmental concerns related to the usage of fertilizers and pesticides, and change in consumer references.

Global Agricultural Inoculants Market: Market Dynamics

The increasing adoption of organic farming practices has led to growing consumption of agricultural inoculants. As agricultural inoculants consist of beneficial microorganisms that help improve the nutrient availability in soil, reduce inputs of chemical fertilizers, and promote sustainable agriculture, their use has also increased significantly in recent years. The concerns regarding the use of chemicals in soil have fueled the demand for agricultural inocukants.

On the other hand, lack of awareness regarding agricultural inoculants is hindering the growth of the market. A majority of farmers have limited knowledge about these products and their usefulness in increasing cost yield sustainability. In addition, the governmental support for advancing organic farming schemes and practices provides ample opportunities for the market.

Impact of COVID-19 on Agricultural Inoculants

The international agricultural inoculants market was negatively affected by the pandemic. The outbreak of COVID-19 has given rise to a temporary lockdown of international and national borders across the globe. The effect on supply chain issues due to lockdown limitations is anticipated to hamper the raw materials' purchasing, supply, and sales of agricultural inoculants. There are transportation problems too which obstructs the whole supply chain.

By Microorganism

Fungi Segment Dominate the Market in 2020

Fungal inoculants help plants to absorb phosphorus and other important nutrients. Mycorrhiza fungi live in plant roots and are known for their ability to provide phosphorus to plants. Farmers across the world are becoming aware of the benefits offered by these products. The demand for fungal microbes is projected to increase in the coming years, with the rise in organic farming practices at a global level.

By Geography

North America Region is Leading in the Global Market Place

North America accounted for the largest share in the agricultural inoculants market. The region is developing new agricultural technologies and successfully applying those in the farming systems. Agricultural inoculants are mainly used for oilseeds and maize. The increasing demand for these crops would drive the market for agricultural inoculants as well.

List of the Key Players Profiled in the Market Include:

• Bayer CropScience Limited
• BASF SE
• Dupont De Nemours and Company
• Novozymes
• Queensland Agricultural Seeds Pvt Ltd
• Verdesian Life Sciences LLC
• Corteva Inc
• Advanced Biological Marketing Inc
• Italpollina S.P.A.
• Rizobacter Argentina S.A.
• Soil Technologies Corporation
• Precision Laboratories
• BrettYoung
• Xitebio Technologies Inc.

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others