Press release
Inoculants Market Size, Growth, Share and Forecast Report 2023-2030
The industry that creates goods with advantageous microorganisms to enhance soil health and encourage plant growth is known as the global inoculants market. To increase crop output and quality, inoculants are frequently employed in horticulture, agriculture, and silage production. The desire for greater crop yields, the growing popularity of organic farming, and the necessity for sustainable agriculture techniques are some of the factors driving the inoculant industry.
Because inoculants can improve soil health, boost nutrient availability, and minimize fertilizer use, they are also becoming more and more popular. In the upcoming years, it is anticipated that the worldwide inoculants market will continue to rise due to factors including the growing need for sustainable agriculture techniques.
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Inoculants Market Dynamics and Trends
There are opportunities for farmers worldwide as a result of the growing customer demand for products made organically. Globally, there has been a notable shift in people's eating tastes and behaviors. According to the 2019 Organic Industry Survey published by the Organic Trade Association, sales of organic food increased 5.9% in the US in 2018 to reach USD 47.9 billion. In 2018, sales of organic fruits and vegetables accounted for 36% of total sales of organic food, with a 5.6% increase to USD 17.4 billion.
In 2018, sales of organic fruits and vegetables made up over 15% of total fruit and vegetable sales in the US. India was ranked eighth in the world for organic agricultural production, according to an article released under the Agricultural and Processed Food Products Export Development Authority (APEDA).
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Inoculants Market Segmentation Analysis
By Type
By Crop Type
By Microbes
By Region
Major Market Key Players
BASF, Bayer, Corteva, Novozymes, Verdesian Life Sciences, Advanced Biological Marketing Inc., BrettYoung, Precision Laboratories, LLC, Queensland Agricultural Seeds Pty and XiteBio Technologies Inc.
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