Global agricultural inoculants market information: crop type (Cereals & Grains, Oil Seed & Pulses, Fruits & Vegetables, and others) source (Bacterial, Fungal, and others) application (Seed &Soil Inoculation, and others) region - Forecast till 2023
Market Analysis
Agricultural inoculants consist of several useful microorganisms which help in the growth and development of the plants. Agricultural inoculants are progressively utilized for their ability as bio manures and systemic acquired resistance (SAR) for different illnesses and pathogens. The tendency towards natural and environment-friendly cultivating practices is setting off the development of Agricultural inoculants market. The developing business sector open doors for organics have all the earmarks of being helpful for the selection of natural horticulture among small-scale agriculturists in India and China. It is basically valuable in the testing situations, where assets are inadequate and cultivation condition is hard. By growing at a CAGR of 9.75%, the global Agricultural inoculants market is expected to reach the value of USD 604.38 million during the forecast period (2017-2023).
Developing demand for food and other sustenance products because of the rising worldwide populace pursued by restricted accessibility of cultivable land is significantly driving the development of the Agricultural inoculants market. Additionally, government authorities, NGOs and rancher associations in developing nations are advancing organic farming by monetary help, market data, and changing patterns in organic food market which is adding fuel to the development of the Agricultural inoculants market. Nevertheless, vague legalization or enactment of farming inoculants may hamper the development of the Agricultural inoculants market.
Market Segmentation
The global Agricultural inoculants market is divided on the basis of its crop type, source, application, and regional demand. Based on its crop type, the grain and cereals section dominate the market. On the basis of its source, the bacterial segment holds the largest market share. On the basis of its application, the seed inoculation has gained the highest share in the global Agricultural inoculants market.
Regional Analysis
Geographically, the global Agricultural inoculants market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major Players
DuPont Inc. (U.S.), MBFi (South Africa), Horticultural Alliance Inc. (U.S.), Novozymes (Denmark), BASF (Germany), Soil Technologies Corporation (U.S.), Monsanto Co. (U.S.), among others, are some of the leading players in the global Agricultural inoculants market.