Agricultural Inoculants Market - Forecasts from 2018 to 2023
Agricultural Inoculants market was valued at US$XX billion in 2017 and is projected to expand at a CAGR of XX.XX% over the forecast period to reach US$XX billion by 2023. Agricultural inoculants contain beneficial microbes which promote plant growth by providing nutrients while suppressing diseases. Growing global food insecurity is one of the major drivers of agricultural inoculants market. Mushrooming global population and rising urbanization are continuously putting pressure on limited arable land. According to the United Nations (UN), food production must double by 2050 to meet the demand of global population. Thus, farmers are required to adopt advanced technologies and solutions to combat food insecurity by increasing the yield of available cultivable land using different advanced yet cost-effective crop production techniques is significantly boosting the demand for agricultural inoculants worldwide to increase the mobilization of key nutrients while protecting crops from pests and diseases.
Harmful impact of chemical fertilizers on groundwater is another major factor behind the booming demand for agricultural inoculants worldwide. Even though high usage of fertilizers and pesticides has increased the global agricultural production over the past few years, their adverse effects on human health and environment has also reduced the agricultural productivity of land. As a result, environment-friendly and organic farming practices are on the rise which contributes to the growth of agricultural inoculants market. Plant growth promoting rhizobacteria, for example, reduces chemical fertilizers’ application while providing lower production cost in a sustainable manner.
According to the European Commission, the total area under farming in EU covered almost 12 million hectares of agricultural land in 2016. Emerging shift towards organic farming will continue to propel the growth of agricultural inoculants market during the forecast period as manufacturers are also offering inoculants for organic production. ABM® ADVANCED BIOLOGICAL MARKETING offers several products under the American brands, Best Inoculant and Graph-Ex, that are used for organic farming.
The vendor landscape of the global agricultural inoculants market is facing intense competition with a large number of market players, though major companies including Bayer and BASF hold the major market share. Vendors are adopting various growth strategies such as merger and acquisition, new product launch, and partnerships in order to expand their market reach across the globe. Recently in March 2018, BASF has launched Bomvoro inoculant in Brazil for efficiently treating soybean seeds.
Major industry players profiled as part of the report are BASF Corporation, Precision Laboratories LLC, ABM® ADVANCED BIOLOGICAL MARKETING, DuPont Pioneer, and Bayer CropScience among others.
The agricultural inoculants market is segmented by type, mode of application, microbe type, crop type, and geography:
By Mode of Application
Bio Control agents
Plant resistance stimulant
By Microbe Type
By Crop Type
Fruits and Vegetables
Cereals and Pulses
Oilseeds and Pulses
Middle East and Africa
Key Questions answered by the report
What is the agricultural inoculants market size from 2018 to 2023?
How are the major drivers and restraints affecting the agricultural inoculants market and the opportunities which exist for the key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants behaviour
Key strategies being adopted by vendors, with in-depth analysis of their impact on competition and market growth.
Precision Laboratories LLC
ABM® ADVANCED BIOLOGICAL MARKETING
Queensland Agricultural Seeds Pty Ltd