Press release
Agricultural Inoculants Market Outlook, Size, Share, Growth Rate, Report 2023-2028
Agricultural Inoculants Market
The global agricultural inoculants market size reached US$ 459.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 705.3 Million by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
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Agricultural inoculants are biological agents that enhance plant growth and soil health. These products, primarily composed of microorganisms like bacteria and fungi, promote plant nutrition by enabling better nitrogen fixation, phosphate solubilization, and release of growth-promoting substances. The working mechanism of inoculants involves colonization of the plant roots or soil, leading to improved nutrient uptake and resistance against pathogens. Their characteristics include being environmentally friendly, sustainable, and an alternative to chemical fertilizers. The advantages of using agricultural inoculants include improved crop yield, soil fertility, and reduced need for chemical inputs, making them a key component in sustainable farming practices.
Market Trends:
The global market is primarily driven by the escalating demand for sustainable farming practices. This is complemented by the growing global population and the ensuing need for increased food production. Additionally, heightened awareness among farmers regarding the environmental impact of chemical fertilizers is shifting preferences towards inoculants. The market is further boosted by technological advancements in microbial research, enhancing the efficacy of inoculants. The trend of organic farming is also playing a pivotal role, as inoculants are integral to organic agricultural practices. Government initiatives promoting sustainable agriculture practices are also contributing to market growth. Moreover, the expanding research and development in the field of agricultural biotechnology is leading to the creation of more effective and tailored inoculant solutions. Enhanced distribution networks and the increasing availability of inoculants in emerging economies are also key factors driving the market. The adoption of precision farming techniques, which often incorporate inoculants, is further propelling market growth.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/agricultural-inoculants-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
• Advanced Biological Marketing Inc.
• BASF SE
• Dow Chemical Company
• Bayer Crop Science
• Brettyoung
• Novozymes A/S
• Verdesian Life Sciences LLC
• XiteBio Technologies Inc.
• Precision Laboratories LLC
Agricultural Inoculants Market Segmentation:
Our report has categorized the market based on region, type, microbes, mode of application, form and crop type.
Breakup by Type:
• Plant Growth Promoting Microorganisms
• Bio-Control Agents
• Plant-Resistant Stimulants
• Others
Breakup by Microbes:
• Bacteria
o Rhizobacteria
o Nitrogen-fixing Bacteria
o Phosphate-solubilizing Bacteria
o Others
• Fungi
o Trichoderma Spp.
o Mycorrhiza
o Others
• Others
Breakup by Mode of Application:
• Seed Inoculation
• Soil Inoculation
• Others
Breakup by Form:
• Solid
• Liquid
• Granular
• Others
Breakup by Crop Type:
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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