The Inoculants Market is projected to grow between 2024 and 2028, driven by the rising demand for organic and sustainable farming practices.
According to TechSci Research report, “Inoculants Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Inoculants Market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Inoculants Market is increasing adoption of sustainable & organic farming practices. Additionally, increasing demand for organic food as well as awareness about the impact of hazardous pesticides and synthetic fertilizers on human health and the environment further fuels the growth of Global Inoculants Market.
For instance, in September 2021, Novozymes launched three powerful biological inoculant solutions which help farmers to improve yield and fertility, and increase the application of bio-based material.
Furthermore, the market is being further stimulated by the growing demand for seed treatment, and the increasing production of different crop seeds.
However, a lack of awareness about technology can slow down market growth. Also, the lower shelf life of the inoculants can further slowdown the market growth.
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Global Inoculants Market is segmented based on type, microbes, crop type, form, and region.
Based on type, the market is categorized into agricultural inoculants and silage inoculants. Agricultural inoculants are expected to hold the largest market share in the forecast period, 2024-2028. As they are emerging as a potential solution to synchronize nutrient release as per the requirement of plants.
Based on the microbes, the market is divided into bacterial, fungal, and others. Fungal is expected to hold the largest market share in the forecast period, 2024-2028. As it helps plants to absorb phosphorus and other nutrients for use.
Based on crop type, the market is fragmented into oilseeds & pulses, cereals & grains, fruits & vegetables, forage, and others. The cereals segment will experience the highest market share during the forecast period, 2024-2028. This can be attributed due to the increasing demand for cereals such as wheat, barley, corn, and rice.
Based on form, the market is segregated into liquid and dry. The liquid segment will experience the highest market share during the forecast period, 2024-2028. As it is easy to inoculate, and their application is practical when spraying on the crops.
Major companies operating in the Global Inoculants Market are:
- Corteva, Inc.
- BASF SE
- Bayer AG
- Novozymes A/S
- Cargill, Incorporated (US)
- Koninklijke DSM N.V.
- Chr. Hansen Holding A/S
- Agrauxine SA
- BIO-Cat Inc
- Kemin Industries, Inc.
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“North America region is expected to grow at the highest rate during the forecast period due to faster adoption of new technologies to increase crop productivity. Additionally, increasing the practice of sustainable and organic farming as well as large arable land creates lucrative opportunities for market growth.
Furthermore, in Asia Pacific, rising demand for growing knowledge of bio-based products and their agricultural implications as well as the demand for organic food create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Inoculants Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Agricultural Inoculants, Silage Inoculants), By Microbe (Bacterial, Fungal, Others), By Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, Forage, Others), By Form (Liquid, Dry), By Region and Competition, has evaluated the future growth potential of global Inoculants market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Inoculants Market.”
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