The global inoculants market accounted for a value of USD 670 million in 2019. Inoculants market projected to register growth at a CAGR of 6.5% during forecast period.
COVID-19 has impacted inoculants market to a minimal extent. There is no significant impact on inoculants market due to corona virus outbreak. The supply chin and operations activity has been impacted slightly but it will recover and register significant growth during forecast period.
For more details, visit: Global Inoculants Market By Type (Silage, Agricultural Inoculants), By Microbes (Fungal , Bacterial, Others), By Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Others), By Region–Forecast & Opportunities to 2026
Organic agriculture is gaining immense popularity as this method doesn’t involve use of any synthetic fertilizers and pesticides. It eliminates utilization of synthetic inputs like synthetic fertilizers, genetically modified seeds, veterinary drugs, irradiation and pesticides. Thus, prefer by major farmers which drives growth in inoculants market during the forecast period.
On the basis of type, the inoculants market is segmented into silage and agricultural inoculants. The silage inoculants segment is estimated to hold largest market share during the forecast period. The silage inoculants demand and consumption is rising due to immense growth in livestock industry. The consumption of animal based products such as meat, eggs and milk is increasing worldwide and the prices of feed grains for livestock are also increasing. The inoculants are serving as best alternative. Thus, drives growth in silage inoculants segment during forecast period.
On the basis of type, the inoculants market is segmented into fungal, bacterial and others. The fungal segment is estimated to witness fastest growth during the forecast period. The fungal inoculants help plants in absorbing various nutrients and phosphorus. These fungi lives in roots of the plants and provide nutrients and phosphorus to the plants. They are used in organic farming widely. Thus, the increase in organic farming tends to drive growth in this segment.
On the basis of crop type, the inoculants market is segmented into cereals & grains, fruits & vegetables, oilseeds & pulses and others. The cereals & grains segment is estimated to hold highest market share during forecast period. It has accounted for largest market share in 2019. The cereals & grains include wheat, barley, rice and corn crops. Wheat, corn and soybean are among most widely consumed crops in world. The demand and consumption is increasing around the world which has driven growth in cereals and grains market during the forecast period.
South America region is estimated to register growth at highest CAGR during the forecast period. The countries such as Argentina and Brazil are the major crops producers various crops including soybean crops and inoculants are used at large scale in soybean crops. The rise in demand and consumption of soybean has driven growth in inoculants market in South America region.
The key market players in inoculants industry are Corveta, Bayer, Novozymes, BASF, Verdesian Life Sciences, BrettYoung, Advanced Biological Marketing Inc., Precision Laboratories, XiteBio Technologies, Queensland Agricultural Seeds Pty, Provita Supplements GmbH, Lallemand Inc., Cargill, Archer Daniels Midland Company, Terramax and MBFi.
- What are the expected industry trends over the next three to five years?
- Which of the inoculants type is likely to lead by 2025?
- Which of the crop type segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?