Global Inoculants Market
REPORT PREVIEW
Live microorganisms known as inoculants serve as biological stimulants or biocontrol agents. They are described as versatile due to the wide range of effects and processes they have on plants, including advantageous impacts on seed germination. It ensures that the plant will have access to the particular bacteria found in the legume once it has germinated. A combination of microorganisms called inoculants helps the soil become more fertile and healthy. Beneficial microbes found in inoculants, such as bacteria, fungus, protozoa and algae support plant growth and aid in the control of pests and diseases. Inoculants are used to enhance plant nutrition, but they can also be used to encourage plant growth by increasing the synthesis of plant hormones. Inoculants that are commonly used are the rhizobacteria that are frequently used as nitrogen-fixers, phosphate-solubilizers, and other root-associated beneficial bacteria that increase the host plant's availability of the macronutrients such as nitrogen and phosphorus. Plant growth-promoting rhizobacteria (PGPR) are the common name for these bacteria.
The Need for Global Inoculants Market is driven by shift in trend toward adoption of organic and environment-friendly farming practices
Globally, there has been a substantial shift in people's eating habits and preferences. Consumers are now more concerned with their health, the nutrients in their meals, and the food's quality. They are progressively starting to eat more organic food as a result of these worries, even though organic food is more expensive than conventional food. Because customers are prepared to pay for organic products if they improve their health and wellbeing, this consumer awareness further expands the organic industry. As a result, organic farming is becoming more prevalent worldwide. The market for inoculants is expanding at a rapid rate due to the increased demand for organic inputs to increase crop production. Inoculants are being used more frequently in agriculture to cultivate crops that are resistant to abiotic stress. Additionally, governments of numerous developing nations, including India, are helping farmers switch to organic and sustainable agriculture methods. The market for inoculants worldwide is expected to grow as a result.
Increasing environmental concern and rise in demand for organic food
Growing adoption of organic and sustainable farming methods as well as growing environmental concerns about the use of pesticides and fertilizers are some of the key factors propelling the growth of the global inoculants market. The desire for organic products has skyrocketed among consumers worldwide, which supports the use of microbial inoculants in farming practices as a much safer and more natural way to boost plant and soil health. Additionally, the adoption of new farming techniques, rising need for increased production, and rising awareness of crop health are anticipated to drive the expansion of the global inoculants market.
Increasing population:
The rising demand for food brought because growing world population is anticipated to drive the expansion of the global inoculants market. Increased crop yields thanks to inoculants can assist to meet the rising demand for food. In addition, the use of inoculants can assist ease the strain on arable land by allowing farmers to grow more crops on a given amount of area.
Consultant point of view
The Global Inoculants Market is projected to grow at a CAGR of 8.5% during the forecast period of 2021-2031. The consumption in many industries in the area is being driven by the rise in incomes, increase in population, increasing environmental concern and high demand for locally grown and healthy crops. According to geographical study, the North American market is expected to gain the largest market share. Due to farmers' increased awareness of the numerous advantages that inoculants offer in terms of boosting farm profitability, there is a major rise in the demand for inoculants on a global scale. Inoculants have increased in popularity due to their capacity to stimulate crop growth and improve soil quality.
Global Inoculants Market: Overview
A sector that creates goods containing advantageous microorganisms that are used to enhance soil health and encourage plant growth is referred to as the global inoculants market. To increase crop output and quality, inoculants are frequently employed in agriculture, horticulture, and silage production. The demand for sustainable agricultural methods, the need for increased crop yields, and the expanding popularity of organic farming are some of the drivers driving the market for inoculants. Additionally, inoculants are being used more frequently as a result of their capacity to improve soil health, boost nutrient availability, and decrease fertilizer consumption.
The need for sustainable farming methods and the requirement for greater crop output are two factors that are predicted to fuel the expansion of the global inoculants market in the upcoming years. The market is also anticipated to gain from the expanding organic farming trend, which emphasizes the use of all-natural materials like inoculants to strengthen soil and encourage plant growth. Government programmes supporting the use of microbial products in agriculture and the rising popularity of organic farming methods also have an impact on the market.
The market for inoculants comprises of the sales of various inoculants, including associative inoculants, freeze-inoculants, symbiotic inoculants, and algae inoculants.
Global Inoculants: Market Drivers
The Global Inoculants Market is driven by several factors such as:
Many companies form mergers, acquisitions, partnership and collaboration strategies to enable market growth.
The rise in population, environmental concern and adoption of organic farming drives the market.
During the projected period, the market's growth rate is anticipated to be driven by consumers' rising choice for organic and chemical-free food products.
Due to factors like rising demand for organic food items, the global inoculants market is anticipated to expand rapidly. The usage of agricultural inoculants has increased due to a rise in worldwide awareness of sustainable agriculture, which calls for a gradual decrease in farming costs and adherence to environmental safety standards.
Examples of collaborations, mergers, acquisitions and new development in this market include:
In September 2021, Optimise FXC was introduced by Novozymes A/S to improve nitrogen fixation, nutrient accessibility, and water absorption in soybean plants, hence lowering the demand for fertiliser.
In March 2022, AMVAC Chemical Corp. and BASF SE announced their collaboration to create a Rhizo-Flo soybean inoculant solution for SIMPAS-applied solutions.
In September 2022, together, Syngenta Seedcare and Bioceres Crop Solutions developed unique biological seed treatments, such as inoculants, for the market. Through this partnership, Syngenta SeedCare was given the sole global distribution rights for Bioceres' biological treatments, with the exception of Argentina.
In November 2022, Corteva Agriscience announced the acquisition of The Stoller Group, Inc., one of the largest independent biologicals companies in the industry. With EBITDA margins that would benefit Corteva, this acquisition would give the business an immediate boost in growth and profitability.
Therefore, the growth of global inoculants market is driven by the increase in new development, collaborations and partnerships.
Global Inoculants Market: Market segmentation
The global inoculants market is segmented by crop type, type, microbe, form and region.
In terms of crop type, the market is divided into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Forage Crops.
By type, the market is classified into Agricultural Inoculants and Silage Inoculants.
By microbe, the market is split into Bacterial, Fungal and Others.
In terms of form, the market is segmented into Liquid and Dry.
In terms of region, the market is segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa.
Each of these segments have been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The Global Inoculants Market report provides current and expected revenue (US$ Mn) for each of these segments from 2021 to 2031, considering 2022 as the base year. The compound annual growth rate (percentage CAGR) has been provided for each segment and market from 2021 to 2031 along with market size estimations.
Global Inoculants Market: Regional Overview:
The Global Inoculants Market is segmented by region, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, which have been further divided into major countries and sub-regions.
In the global inoculants market, North America holds the biggest market share. This is because inoculants have a high rate of adoption in the US and Canada, driven by rising interest in sustainable farming methods and expanding knowledge of their advantages. Due to public settlements and declining agricultural expansion, farmers are implementing innovative technology to improve soil productivity and crop production. The greatest market for inoculants in North America is the United States, where corn and soybean crops account for a sizeable portion of the market.
With substantial growth potential in the upcoming years, the Asia-Pacific region is anticipated to become the inoculants market with the quickest rate of growth. There are various nations in the region, including China, India, Japan, and Australia. One of the main factors propelling the expansion of the market for inoculants is the rising demand for food items in the Asia-Pacific region. Higher agricultural yields are required as a result of the region's expanding population and rising food product demand. Inoculants are a desirable alternative for farmers in the area since they play a significant role in enhancing crop yields and decreasing reliance on synthetic fertilizers. The market for inoculants will grow in the upcoming years as a result of rising food product demand, the need to improve soil health, and government programmes that support sustainable agricultural practices.
In 2022, the inoculants market's largest region was North America. During the forecast period, Asia-Pacific is anticipated to have the quickest growth in the worldwide inoculants market research.
The report provides the current and expected market revenue (US$ Mn) of these regional markets and their major countries from 2021 to 2031, with their CAGRs from 2021 to 2031.
The study also offers a list of recommendations, highlights, and useful insights of the Global Inoculants Market, which can help new companies entering the market and existing companies to increase market shares and in the decision-making process.
Major Players
The Global Inoculants Market report concludes with the company profiles section, which includes key information about major players in the Global Inoculants Market
- Corteva Agriscience (US)
- BASF SE (Germany)
- Bayer AG (Germany),
- Novozymes A/S (Denmark)
- Cargill Incorporated (US)
- Archer Daniels Midland Company (US)
- DSM (Netherlands)
- Chr. Hansen Holding A/S (Denmark)
- Lallemand Inc. (Canada)
Kemin Industries, Inc (US)
Verdesian Life Sciences (US)
BIO-CAT (US)
Microbial Biological Fertilizers International (South Africa),
Agrauxine (US)
Provita Supplements GmbH (Germany
NeuGen Biologicals Pvt Ltd (India)
Precision Laboratories, LLC (US)
Queensland Agricultural Seeds (Australia)
XiteBio Technologies Inc. (Canada)
The Global Inoculants Market report includes profiles of the major players in the market based on key parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments
Global Inoculants Market: Segmentation
UMR's study on the Global Inoculants Market includes information segmented into five categories: crop type, type, microbe, form and region. The report covers in-depth analysis of evolving industry trends and key market dynamics related to these segments of the Global Inoculants Market.
Global Inoculants Market: Restraints
Limited awareness regarding inoculants:
Agricultural inoculants and their value in boosting cost-yield sustainability are topics that the majority of farmers are unaware of or only have a passing familiarity with. In most areas, farmers believe that agricultural inoculants have a more gradual impact than chemical fertilizers. The majority of nations, including India, South Africa, and the Middle East, have very low rates of agricultural inoculants adoption. More than half of the people in these nations rely on agriculture as their main source of income, thus farmers are reluctant to incur production capacity risks. As a result, farmers have not generally accepted agricultural inoculants. Farmers' main issues with employing agricultural inoculants are unawareness of them, a lack of supply, and sluggish effects. Therefore, a significant barrier to market expansion is farmers' ignorance of agricultural inoculants. For silage inoculants, cattle farmers experience a similar situation.
Limited usage of inoculants worldwide:
Microbial inoculant technology has a number of benefits over the usage of agrochemicals; however it is not currently being used widely around the globe. With great success, microbial inoculants have been administered as dry formulations or as liquids (as sprays, root dips, or drenches), however the majority of these methods are impractical for use on a large scale. This is due to the fact that a big quantity is necessary for the inoculants to perform at their best. In contrast to chemical inputs, which are broad-spectrum products, plant growth-promoting microorganisms (PGPR) are highly focused and selective. It has an effect only on the chosen or targeted organism. As a result, there is an inconsistent level of quality and effectiveness in real-world settings where multiple species are acting at once.
Availability of alternative products:
Another key barrier to the global inoculants market is the accessibility of substitute goods such as pesticides and chemical fertilizers. In agriculture, chemical fertilizers and pesticides are widely utilized and accessible. Some farmers may find these items to be more enticing than inoculants because they are less priced and more accessible. These elements may hinder the market for inoculants' growth and expansion worldwide.
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