The agricultural inoculants market is at a prime focus in the agriculture industry for its multi-functional benefits and functional properties. It is also known as ‘bio-inoculants’. Agricultural inoculants are used as they improve the availability of nutrients for the host plant. They enhance the plant uptake of phosphorus and zinc. It acts as a physical barrier against pathogens and protects plants, decomposes organic residues, and stimulates the overall plant growth and development.
Agricultural inoculants are gaining more significance in the market with a rise in prices of chemical/mineral fertilizers and increase in organic and eco-friendly farming practices, globally. The recent increase in the price of mineral/chemical fertilizers and commercial response to the rising food prices has reinforced the need to develop alternative soil fertility management strategies.
The agricultural inoculants market is projected to grow at a CAGR of 9.5% between 2014 and 2019. The market was dominated by North America in 2013 and accounted for the largest share in the total agricultural inoculants market. On the other hand, Latin America is projected to be the fastest-growing market for the period considered for this study due to its extensive use in soybean farming. In terms of types, the Plant Growth Promoting Micro-organisms (PGPMs) segment is projected to be the largest market for agricultural inoculants from 2014 to 2019.
The agricultural inoculants market is characterized by intense competition due to the presence of a large number of both large- and small-scale firms. Numerous manufacturers, mainly small-to medium-sized, exist worldwide and have been producing inoculant products similar in quality and quantity for decades. Expansions, acquisitions, agreements and new product launches are the key strategies adopted by market players to ensure their growth in the market. The market is dominated by players such as BASF SE (Germany), Novozymes A/S (Denmark), Advanced Biological Marketing, Inc. (U.S.), and DuPont (U.S.).
This report has estimated the size of the agricultural inoculants market in terms of value ($million). In this report, the market has broadly been segmented on the basis of type, source, crop type, modes of application, and region. Market drivers, restraints, opportunities, and challenges; and raw material and product price trends are discussed in detail. Share of the participants for the overall market has been discussed in detail. The market has grown significantly in the last few years and growth is projected to continue.
Scope of the report
This research report categorizes the agricultural inoculants market based on type, mode of application, crop type, application, and geographical market.
Based on type, the market has been segmented as follows:
- Plant growth promoting micro-organisms (PGPMs)
- Bio-control agents
- Plant resistance stimulants
Based on source, the market has been segmented as follows:
- Others (including algae, virus, and protozoa)
Based on mode of application, the market has been segmented as follows:
- Seed inoculation
- Soil inoculation
- Others (including compost pit and plant surface application)
Based on crop type, the market has been segmented as follows:
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (including turf & ornamentals, plantation crops, fiber crops, and silage & forage crops)
Based on geography, the market has been segmented as follows:
- North America
- Latin America
- RoW (The Middle East and Africa)