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Inoculants Market Analysis Competitive Landscape, Growth Factors, Revenue 2023-2032
Inoculants Market
The Business Research Company's Inoculants Global Market Report 2023 identifies increasing use of organic farming as the major driver for the Inoculants market's growth in the forecast period. Organic farming refers to an agricultural practice that makes use of biological pesticides and fertilizers manufactured from plant or animal waste. Organic farming boosts the inoculants markets as inoculants are widely used as crop growth regulators in organic farming. For instance, in June 2023, according to the Eurostat, a Europe-based government agency, total area under organic farming in the EU in 2020 covered 14.7 million hectares of agricultural land.
The global inoculants market size is expected to grow from $1.05 billion in 2022 to $1.16 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global inoculants market size is expected to reach $1.65 billion in 2027 at a CAGR of 9.2%.
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Major competitors in the Inoculants market are Corteva, BASF SE, Bayer AG, Novozymes, Verdesian Life Sciences, BrettYoung, Queensland Agricultural Seeds, XiteBio Technologies Inc., Precision Laboratories LLC
A key trend in the Inoculants market includes Product innovation. Major companies operating in the inoculants market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2022, Lavie Bio Ltd., an Israel-based manufacturer of inoculants and microbial-originated agricultural products, launched bio-inoculant result. This is a microbial inoculant that enhances the efficiency with which plant roots absorb nutrients from the soil, enhancing crop production and producers' profitability while promoting soil longevity and sustainability for the environment. The result has the potency to produce an extra 3-4 bushels for every acre and has demonstrated significant yield improvement when compared to industry standards.
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The Inoculants market is segmented -
•By Type: Agricultural Inoculants, Silage Inoculants
•By Form: Dry, Liquid
•By Microbe: Bacterial, Fungal, Other Microbes
•By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And vegetables, Forage, Other Crop Types
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Inoculants market.
The Business Research Company's "Global Inoculants Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Inoculants Market Include:
1. Executive Summary
2. Inoculants Market Characteristics
3. Inoculants Market Trends And Strategies
4. Inoculants Market - Macro Economic Scenario
5. Inoculants Market Size And Growth
......................
26. Africa Inoculants Market
27. Inoculants Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Inoculants Market
29. Inoculants Market Future Outlook and Potential Analysis
30. Appendix
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