Microbial Agricultural Inoculants Market - Current and Projected Size of Industry from the standpoint of both Value and Volume

Microbial agricultural inoculants also known as soil inoculants and are considered beneficial for plant growth and nutrition. The use of microbial inoculants enhances the plant growth, suppresses the diseases and increases the yield and also protects the environment. For better productivity in crops, microbial inoculants focus upon the symbiotic rhizobia that are used for the establishment of the nitrogen-fixing symbiosis with the legumes. Microbial inoculants also play an important role in the aggregation of soil and also stabilizes the soil. The agricultural sector has undergone major changes in the last few years with improvement in the agricultural practices. The uses of chemical fertilizers and pesticides have undoubtedly increased the agricultural production over a couple of years. However, indiscriminate use of chemicals and fertilizers has resulted in various environmental disasters as well as ecological imbalances. Thus this has triggered the growth rate of the microbial agricultural inoculants. Also, the rise in demand for organic farming and other eco-friendly agricultural techniques has resulted in the positive impact on the market. Microbial inoculants are considered to extend the agricultural productivity more than the application of bio fertilizers into crops.

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The global microbial agricultural inoculants market has been segmented on the basis of different types, source, application and crop type. By different types, the global microbial agricultural inoculants have been segmented into plant growth promoting microorganisms, biocontrol agents, and stimulants. By source the global microbial agricultural inoculants has been segmented into fungal inoculants, and bacterial inoculants. The bacterial inoculants have been further segmented into photobacteria, rhizobacteria, and azetobacter. Similarly, fungal inoculants are further segmented into Trichoderma Spp and Micorrhizal. On the basis of different application, the global microbial agricultural inoculants include soil inoculation and seed inoculation. The global market has been further segmented on the basis of crop type namely oilseeds and pulses, fruits and vegetables, cereals and grains.

The global microbial agricultural inoculants are mainly driven by rising demand of organic farming among the farmers. Organic farming involves the use of different techniques to achieve better crop yields without harming the natural environment. Organic farming improves the soil fertility and helps to control diseases and pests without harming the environment. Such farming also ensures the water applied on the crops are clean. The rise in the prices of the agrochemicals and their negative impact on the crops are also providing a positive impact to the microbial inoculants market. However, lack of awareness regarding the benefits of the usage of microbial agricultural inoculants coupled with limited availability is restraining the global microbial agricultural inoculants market. Additionally, continuous research and development of new technologies are expected to generate opportunities to the global microbial inoculants market during the forecast period. Also, growth potential from the developing regions is also anticipated to promote positive growth opportunities to the market.

In the region wise study, the global microbial agricultural inoculants market has been segmented into North America, Europe, Asia-Pacific, Middle East, Africa and Latin America. North America which includes U.S., Canada is anticipated to capture a significant part of the market share over the years. This is mainly due to the adoption of new technologies in order to increase the crop productivity and minimize the cost of production. Latin America region is anticipated to show the fastest growth rate due to the rise in demand for commercial crops such as corn and soybean.

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The global key participants in order to expand their market share engage upon strategic acquisitions and joint venture techniques. Some of the key participants in the industry include BASF SE, E. I. Dupont De Nemours Company, Bayer Crop Science, Novozymes A/S, Verdesian Life Sciences LLC, Advanced Biological Marketing Inc., Brettyoung, Precison Laboratories LLC, Queensland Agricultural Seeds Pty Limited, Xitebio Technologies Incorporated.

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