Agricultural Inoculants, also referred to as microbial inoculants, are beneficial microorganisms (bacteria or fungi) encapsulated in carrier material and applied to the seed or soil for remediation and enhancement of agricultural productivity. The Agricultural Inoculants market based on different crop types has been segmented into cash crops, plantation crops, food crops, and fruits and vegetables. The Agricultural Inoculants Market is estimated to grow at a CAGR of 7.09% during the forecast period 2018–2023. The APAC Agricultural Inoculants market is forecast to grow at the highest CAGR of 9.08% during the forecast period, which can be mainly attributed to the adoption of organic soil microbial inoculants across various applications such as seed inoculants and soil inoculants.
Agricultural Inoculants Market Outlook
The global Agricultural inoculants market has been witnessing brisk growth in the recent years owing to the increasing awareness among people about the negative effects of chemical fertilizers and pesticides. Factors such as augmentation of organic farming, commercialization of inoculants, and so on, have been amplifying the agricultural inoculants market revenue. Agricultural Inoculants are employed in different applications such as seed inoculants and soil inoculants. The seed inoculants market is estimated to reach $249.45m by 2023, growing at a CAGR of 7.33% during the forecast period 2018–2023, The volume is projected to grow at a CAGR of 8.36% during the forecast period.
Agricultural Inoculants Market Growth Drivers
Shift from modern agricultural techniques to organic agriculture has boosted the growth of the Agricultural Inoculants market. Modern agricultural techniques pollute the environment by continuously using synthetic chemicals which also pollutes ground water as well as causes various health hazards to farm workers. Organic agriculture techniques uses non-chemical materials to provide better quality yields, inoculants are being preferred as best alternatives to chemical pesticides and fertilizers.
Agricultural Inoculants Market Challenges
The application of agricultural inoculants in small-scale, laboratory conditions and under field conditions produces varying results. A lot of research is underway to develop an inoculant adaptable to the varying environmental and climatic conditions. This is a major challenge for the agricultural inoculants market. Agricultural Inoculants Market Key Players Perspective
DowDupont Inc. is a major manufacturer of Agricultural Inoculants. The company has its headquarters in the U.S. and operates in EMEA and RoW regions. DowDupont Inc., due to its wide range of products, constant product launches and innovation has been successful in catering to a variety of customers.
Bayer, headquartered in Germany, is the next leading player in the Agricultural Inoculants market. It operates in the EMEA, North America, APAC and Latin America.
Agricultural Inoculants Market Trends
Soil microbes have opened up ample opportunities for the agricultural inoculants market. A wide variety of soil microbes are being utilized to increase crop production. The development of new inoculation techniques is making culturable microbes more attractive as these microbial inoculants provide benefits in terms of crop yield.
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