Global Agricultural Inoculants Market

Global Agricultural Inoculants Market is slated to grow at a CAGR of 9.0% during 2015-2020 forecast period in order to reach a market value of $ 412.5 million by 2020. The current market demand for inoculants in agriculture is reported to be $ 268.1 million. Inoculants are agricultural amendments that use beneficial microbes to improve plant nutrition and health. By inoculating the beneficial microbes present in the soil, farmers can re-introduce plant-growth promoting, nutrient-delivering, disease suppressing organisms into the agriculture field.

Agricultural inoculants are being increasingly used for their capacity as biofertilizers and systemic acquired resistance (SAR) for various diseases and pathogens. The formulation of beneficial microorganisms as inoculants is being readily used by farmers as part of sustainable agriculture. This product is applied in many modern day conceptual agriculture like organic farming, biofertilizers, and biocontrol agents.

The growth of the agricultural inoculants market is attributed to high cost and demand for basic agrochemicals like pesticide and fertilizer, popularity of organic and environment friendly farming practices and the dire need for improved food productivity globally. Factors like lack of awareness about the agricultural and low adoption rate due to lack of proper channels are restricting the market growth of this niche segment. Additionally, high growth potential in the developing regions and technological advancement for product manufacturing may provide the future growth potential. Asia-Pacific is a potential region with investments coming from major players in the market.

By agricultural inoculants types, the market is segmented into Biocontrol Agents, Plant Resistant Stimulant and Plant Growth Promoting Microorganisms; PGPMs account for majority of market share. Among bacterial and fungal inoculants bacterial inoculants form most of the demand which is then further segmented into Rhizobacteria, Nitrigen Fixing, Phosphate Solubilizing and Others. Mycorrhiza based fungal inoculants are expected to show highest growth rate globally due to the increasing use as biofertilizers. Seed or soil mode of application of agricultural inoculants has the potential to grow as part of the eco-friendly agricultural production system. By application in crops, fruits and vegetable sector account for majority of the usage globally.

In the geographical segmentation, North America dominated the market place in 2015 with the largest share globally. Europe is the second largest market with around one-fifth of the global share; the regional market is led by Germany, UK and France. Latin America region would experience fastest growth owing to the oilseed crop applications. In Asia-Pacific, usage of inoculants in rice crops in countries like India, China and Vietnam etc.

The key companies in the market are BASF SE, Dupont, Novozymes and Advanced Biological Marketing, Inc. etc. The most preferred strategies of the key players are to achieve competitive advantage and to expand the business units in various geographical areas by joint ventures, expansions and acquisitions. The key players are also focusing on agreements and partnerships with local players and distributors to cater to more consumers. Introducing new effective products through investments in R&D is another strategy to stay ahead of the competition.

Mordor Intelligence understands the need of unique information requirement in today’s fast-paced and competitive business environment, helping you gain the edge over your competition. To download this report visit Global Agricultural Inoculants Market

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