Microbial Agricultural Inoculants Market - Historical, current, and projected size of both value and volume
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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. Plant growth promoting micro-organisms are expected to lead the microbial agricultural inoculants market throughout the forecast period, because they play an important role in enriching the soil and provide ample immunity to the seeds or plants.
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. Bacterial inoculants held the dominant share in 2016 and the same is expected to lead the microbial agricultural inoculants market throughout the forecast period.
Based different application, the global microbial agricultural inoculants market includes 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 market is 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 is also providing a positive impact to the microbial agricultural 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 agricultural inoculants market during the forecast period. Also, growth potential from the developing regions is also anticipated to promote positive growth opportunities for the growth of the microbial agricultural inoculants market in the coming years.
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 microbial agricultural inoculants markets’ share over the years. Further, U.S. accounts for more than 30% of the global microbial agricultural inoculants market. This is mainly due to the adoption of new technologies in order to increase the crop productivity and minimize the cost of production.
Asia Pacific has significant potential for the growth of the microbial agricultural inoculants market with major contributors being China, India and Japan among others.
Latin America is anticipated to show the fastest growth rate due to the rise in demand for commercial crops such as corn and soybean.
The global microbial agricultural inoculants market is considered to be highly fragmented due to huge presence of several established companies. The global key participants in order to expand their market share in the microbial agricultural inoculants market engage upon strategic acquisitions and joint venture techniques to ensure long term sustenance in the microbial agricultural inoculants market.
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Some of the key participants in the microbial agricultural inoculants market include BASF S.E., 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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