Global Inoculants Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Global Inoculants Market Introduction

The global inoculants market was valued at US$ 924 Million in 2020, and is expected to grow at a CAGR of 6.9% during 2022-2031

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The world of agriculture has changed dramatically in the past 50 years. Changes to farming practices and different climates have caused some crops to be prevented from growing successfully. One solution is inoculants. Inoculants are living organisms that can help enhance soil quality and improve crop yield. This is done by increasing the amount of nitrogen the soil can produce, which in turn helps plants grow faster and more efficiently.

Inoculants are substances which, when applied to seeds, help those seeds produce strong and healthy roots. The use of inoculants is now widespread, as it enables farmers to increase their productivity by saving them time that would otherwise be spent on planting seeds.

The use of inoculants is now widespread, as it enables farmers to increase their productivity by saving them time that would otherwise be spent on planting seeds.

They come in various forms such as powders, liquids, and gels. Some examples of inoculants include mycorrhizae, bacteria, and rhizobium. They can be found in soil or added to the dirt for better results. There are both organic and synthetic inoculants. The most popular type of organic inoculant is known as “Rhizobia” which is bacteria.

Inoculants are microbial agents that supply nitrogen and other minerals to plants. This magic substance can be either natural or synthetic, and these minerals help with the growth of crops. Organic inoculants contain mycorrhizae fungi, which is a type of fungus that is similar to the common mushrooms found in grocery stores. The fungi infect the root system of plants and provides them with nutrients such as phosphorus and potassium.

The global Inoculants market is segregated into types, crop types, microbes, and regions. On the basis of type, the global Inoculants market is sub-segmented agricultural inoculants, and silage inoculants. On the basis of crop type, the global Inoculants market is sub-segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, forage, and other crop types. With respect to microbe, the global Inoculants market is distributed into bacterial, fungal, and other microbes. On the basis of region, the global Inoculants market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Organic and environmentally friendly farming practices have since become prevalent in the agricultural industry, thereby driving the market's growth.

According to an FAO article, organic agriculture is an investment in which synthetic fertilizers and pesticides are eliminated. It involves eliminating the use of synthetic inputs such as fertilizers, pesticides, genetically modified seeds, preservatives, additives, veterinary drugs, and irradiation.

According to Codex, “Organic agriculture promotes, and enhances agro-ecosystem health, including biodiversity, biological cycles, and soil biological activity." It emphasizes the use of locally adapted management practices in preference to the use of off-farm inputs, considering local conditions require local practice systems. This is done by means of, where conceivable, agricultural, biological, and mechanical means rather than using synthetic components, to fulfill any specific function in a system (FAO/WHO Code Alimentarius Commission, 1999).

Customers are seeking more organically produced items, offering an opportunity for businesses. Around the world, there has been a considerable shift in food preferences. In 2018, organic food sales in the United States increased in value to roughly $47.9 billion. The 2019 Organic Industry Survey, released by the Organic Trade Association, found that this was 5.9% greater than 2017's organic sales. India was ranked ninth by an article published in the International Association of Farming Cooperatives under its Agricultural and Processed Food Products Export Development Authority (APEDA). The government was producing about 1.70 million tons (2017–18) of organically certified products in  the same year, including food products, oilseeds, pulses, cereals & millets, fruits, and vegetables. Thus, countries such as the US and India are expected to act as the main revenue generators in agricultural inoculants market. Organic farming methods have led to greater consumption of agricultural inoculants. Since agricultural inoculants encourage the fermentation of harmful microbes and produce nutrient products to help growing plants, they have been used to boost agricultural productivity over recent decades.

Limited knowledge of silage and agriculture inoculants makes them unfamiliar

A majority of farmers know little about agricultural inoculants, and so their use in creating sustainable yields is difficult to persuade. In most places, agricultural inoculants are viewed as a slightly less effective alternative to chemical fertilizers. Very few farmers have a wide knowledge base or limited familiarity with agricultural inoculants, which can increase crop price sustainability. In most regions, agricultural inoculants have been made out to be gradually more effective in comparison to chemical fertilizers. According to the Institute of Management Development and Research (IMDR), small buyers, and retailers in India are unwilling to buy and sell agricultural inoculants because of their poor quality. Farmers facing difficulties with inoculants are most likely to find insufficient availability, slow results, and lack of knowledge at our academy. In many regions of the countryside, farmers have insufficient awareness of the diverse types of inoculation aids, hampering the increase in the sale of agricultural inoculants. A similar case is seen by livestock farmers for silage inoculants.

Asia Pacific is expected to lead the industry over the commenced period

The global inoculants market is segmented into North America, Europe, the Asia pacific, Latin America, and the Middle East and Africa.

Markets in the Asia Pacific region are anticipated to account for the largest share due to the surging demand for varied food products in emerging countries like China, an exponential rise in the number of meat consuming population, and the mushrooming industrialization for the production of livestock.

COVID-19 Impact Analysis on Global Inoculants Market

The coronavirus pandemic has affected their enterprises to some extent. Although their global operations are still underway, their resources continue to be unaffected by the pandemic when they manufacture their antigens products.

Competitive Landscape

• Corteva
• BASF
• Bayer
• Novozymes
• Verdesian Life Sciences
• Advanced Biological Marketing Inc.
• BrettYoung
• Precision Laboratories LLC
• Queensland Agricultural Seeds Pty
• XiteBio Technologies Inc.
• Other Key Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Segments Covered in Global Inoculants Market by Type

• Agricultural inoculants
• Silage inoculants

Key Segments Covered in Global Inoculants Market by Crop Type

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Forage
• Other Crop Types

Key Segments Covered in Global Inoculants Market by Microbe

• Bacterial
• Fungal
• Other Microbes