According to the new market research report "Inoculants Market by Type
(Agricultural Inoculants and Silage Inoculants), Microbe (Bacterial and
Fungal), Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables,
and Forage), and Region - Global Forecast to 2025", published by
MarketsandMarkets™, the Inoculants Market size is estimated at USD 808 million in
2019 and is projected to reach USD 1,207 million by 2025, at
a CAGR of 6.9% during the forecast period. The growth of the market is driven
by the growth of the livestock industry, rise in prices of feed grains,
and adoption of organic farming practices due to the growing health concerns
among consumers. Emerging countries in South America and the Asia Pacific are
projected to offer lucrative opportunities for inoculants manufacturers in the
coming years.
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The oilseeds & pulses segment is projected to be the
fastest-growing segment in the inoculants market during the forecast period.
Oilseeds
is one of the important cash crops in developing countries as they are grown in
abundance. The most important crops in this category include soybean, canola,
lentils, and beans. Oilseeds and pulses form a staple diet for people in
developing countries. Soybean is widely grown and witnesses demand in Brazil,
the US, Argentina,
and China.
The demand for soybean remains high, as it is a rich source of protein for
vegetarian consumers. The demand for high-yielding and disease-resistant
soybean seeds is also increasing, as it is a cash crop of premium value. In
addition, the agricultural inoculants market is projected to grow due to the
increase in oilseeds production globally. In terms of pulses, India is
a leading producer of pulses. Other major producers of pulses include Canada, Brazil,
the US, and China.
The increased demand for oilseeds and pulses such as soybean, canola, peas,
beans, and other legume crops are projected to drive the growth of the
inoculants market.
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TOC on "Inoculants Market"
120 – Tables
70 – Figures
200 – Pages
The agricultural inoculants segment is projected to record the
fastest growth during the forecast period.
Agricultural
inoculants have properties that improve the quality of soil, enhance the growth
of crops, and increase yield, which is a major factor that has contributed to
the growth of the agricultural inoculants market. The increase in global
awareness about sustainable agriculture, which witnesses high adoption due to
its step-by-step reduction in the cost of farming and complying with the
environmental safety norms-has resulted in an increase in the use of
agricultural inoculants. Agricultural inoculants are also considered
cost-effective alternatives for chemical fertilizers, as their application
reduces the use of chemical fertilizers in farming. Hence, the overall
production cost can be reduced without compromising on the economic yield.
Environmental concerns related to the use of chemical fertilizers have led to
an increase in the use of agricultural inoculants, which is projected to drive
the market growth. Inoculants promote the growth of plants through several
beneficial bacteria and have a negligible impact on the environment. Increase
in organic and environment friendly farming practices have led to an increase
in demand for agricultural inoculants.
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South America is projected to be the
fastest-growing market during the forecast period.
The
South American inoculants market is projected to be the fastest-growing market
during the forecast period. Countries such as Brazil and Argentina constitute
the largest country markets in the Latin American region. Both these countries
are the major contributors in the production of soybean. Agricultural
inoculants are widely used for soybean crops. Hence the consumption of
inoculants is projected to increase in the next five years. It is one of the
largest regions that have organic agricultural land area, due to which the
demand for agricultural inoculants remains high.
This
report includes a study of marketing and development strategies along with the
product portfolios of leading companies in the inoculants market. It consists
of the profiles of leading companies, such as Corteva (US), BASF (Germany),
Bayer (Germany),
Novozymes (Denmark), Verdesian Life Sciences (US), Advanced Biological
Marketing Inc. (US), BrettYoung (US), Precision Laboratories, LLC (US),
Queensland Agricultural Seeds Pty (Australia), and XiteBio
Technologies Inc. (Canada).
Apart from this, other key players include Chr. Hansen (Denmark), Lallemand Inc. (Canada),
Kemin Industries, Inc (US), Provita Supplements GmbH (Germany), Cargill (US), Archer
Daniels Midland Company (US), BIOMIN Holding GmbH (Austria), Terramax (US), BIO-CAT
Microbials (US), and MBFi (South
Africa).
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