The Agriculture Inoculant market is expected to grow at a compound annual growth rate of 6.58% over the analyzed period to reach a market size of US$1,365.856 million in 2026 from US$874.329 million in 2019. Inoculants refer to weak disease agents that are introduced in the body of the host, to build immunity against that disease-causing agent. The agricultural inoculants which contain Rhizobium bacteria are known as nitrogen inoculants. Since these bacteria are not naturally mobile in the soil, it is crucial to add the required amount of Rhizobium to ensure successful nodulation. These also convert atmospheric nitrogen into a form that can be consumed by plants. Further, there is a different strain of Rhizobium for different plants, which cannot be used interchangeably. With the growing world population, which is soon to reach 9 billion by end of 2050, food availability will become a major concern. Further, with decreasing arable land and urbanization, it has become crucial to increase yields along with conserving the plant. Agriculture Inoculant methods provide required nutrition to the plants. It also stimulates hormonal production in plants leading to plant growth.
Legumes to hold a significant share in the market.
Legumes such as pulses, peas, chick-peas, peanuts, lentils, and beans are predicted to have a significant market share of the agriculture inoculant market. This is because an inoculant may not be effective in more than one plant. For instance, the Rhizobium stain’s success rate differs from the different plant types it is paired with. A stain that succeeds in the production of nodules in lentils and peas, may fail when paired with beans. Pulses, in particular, require a high amount of nitrogen to become protein-rich post-production.
Cereals and other crop plants will also have a noteworthy share in the market. Fungal-based inoculants are more effective in other crops with superior yield. Groundwork BioAg Ltd. along with Advanced Yield LLC announced the production of record-breaking corn yield, in 2020, using former’s ROOTELLA X Mycorrhizal fungal inoculant. Advanced Yield LLC had been treating their 8,000 acres farms with ROOTELLA X technology.
Seed Inoculation to dominate the market.
By mode, the agriculture inoculant market is segmented as soil inoculation and seed inoculation. Soil inoculation is also known as microbial inoculation or bio-inoculation and holds a significant amount of market. This mode uses rhizospheric or endophytic microbes to promote plant health using symbiotic relationships. Soil inoculants come either in liquid form or granular form. While seed inoculation is predicted to dominate the market. Seed inoculation, or as commonly known as seed technology, covers the seed surface with nitrogen-fixing bacteria, generally Rhizobium or Bradyrhizobium, before planting them in soil. Due to early exposer, these bacteria penetrate the seed resulting in the growth of the plant with root nodules that can fix atmospheric nitrogen. Seed inoculants may be liquid or peat-based. Various companies are involved in R&D to improve seed inoculation technology to attain better results. A&L Biologicals are aiming to enter the agriculture inoculation market with its under-development seed inoculation technology that will promote both, plant, and soil health.
Asian and North American countries have huge potential.
The Agriculture Inoculant market has been further regionally classified as American market, European, Middle East, and African market, and Asian market. The North American and Asia countries have huge potential and are anticipated to grow at an exponential rate in the agriculture inoculant market. Especially countries such as India, China, Canada, Mexico, the U.S. have a prominent role to play.
The North American region, given its state-of-art infrastructure and technology advanced agriculture sector, will have an unconstraint growth, while lack of awareness, education, and initial investment may be hurdling the agriculture inoculant market in Asian countries of India and Vietnam.
Covid pandemic and Agriculture Inoculant industry
The coronavirus pandemic might have shaken the supply of agriculture inoculants owing to lockdowns and disturbing channels. However, with rising awareness, the market is expected to face a demand boom in the next couple of years. Also, rising internet penetration, agriculture technology, and government support will further drive up the market.
January 2021, Financial: Verdesian Life Science raised investment using a definitive stock purchase agreement, from AEA Investors. The former company is a leading developer of fertilizer enhancement, seed treatment, and inoculant technology. The fund raised will be utilized to enhance R&D for Nutrient efficient technology.
December 2020, Collaboration: The Mosaic Company collaborated with BioConsortia Inc. to develop a microbial product for nitrogen-fixing in corn, wheat, and other non-legume crops. The partnership aims to reduce nitrogen fertilizer application using seed treatment products.
November 2020, venture: Groundwork BioAg partnered with U.S.’s Left Coast Wholesale to sell its DYNOMYCO mycorrhizal inoculant. The product is based on 30 years of research by Israel’s Volcani Center and is formulated to increase the yield of cannabis along with the cannabinoid levels. The U.S. legalized the use of cannabinoids for therapy and reconstruction in its Farm Bill of 2018.
September 2020, Venture: Marrone Bio Innovation Inc and Rizobacter partners to develop plant health and crop nutrition technology in South America, well known for soybean, corn, and wheat production. Increased farmer’s awareness has led to a surge in demand for biopesticides, inoculants, and bio-stimulants.
Agriculture Inoculant Market Scope:
|Market size value in 2019||US$874.329 million|
|Market size value in 2026||US$1,365.856 million|
|Growth Rate||CAGR of 6.58% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Mode, Method, Crop Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Bayer AG, Rizobacter, Groundwork BioAg, Verdesian Life Scienc, BioConsortia, AGTIV|
|Customization scope||Free report customization with purchase.|
Frequently Asked Questions (FAQs)
Q1. What will be the agriculture inoculant market size by 2026?
A1. The agriculture inoculant market is expected to reach a market size of US$1,365.856 million in 2026.
Q2. What are the growth prospects for the agriculture inoculant market?
A2. The global agriculture inoculant market is expected to grow at a CAGR of 6.58% during the forecast period.
Q3. What is the size of the global agriculture inoculant market?
A3. Agriculture Inoculant market was valued at US$874.329 million in 2019.
Q4. Which region holds the largest market share in the agriculture inoculant market?
A4. The North American and Asia regions have huge potential and are anticipated to grow at an exponential rate in the agriculture inoculant market.
Q5. Which segment is driving the agriculture inoculant market growth?
A5. Legumes such as pulses, peas, chick-peas, peanuts, lentils, and beans are predicted to have a significant market share of the agriculture inoculant market.