The Agricultural Inoculants Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Agricultural Inoculants Market is estimated to be USD 363.19 million in 2018 and predicted to rise to USD 574.36 million by 2023 with a CAGR of 9.6%. The market is segmented by Type (Plant Growth Promoting Micro-organisms, Bio-control agents, Plant-resistance stimulants) by Source (Bacterial, Fungal, others) by Application (Seed inoculation, Soil inoculation, others) by crop type (Cereals & grains, Oilseeds & pulses, Fruits & vegetables, other crops). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The market growth is driven by high demand and cost of basic agrochemicals like pesticides and fertilizers, increasing demand for organic farms and organic foods, need for increase of global food productivity. However it is restricted by lack of awareness among growers and low adoption rate. Technological advancements in manufacture of inoculants provide the future growth potential for this market.
PGPMs-Plant Growth Promoting Micro-organisms is the most popular and widely used inoculant due to the necessity of increased food production to cater the needs of growing population. Plant-resistance stimulants is the fast growing one in product segment
Asia Pacific is dominating the market with largest share and North America is in second place. Asia-Pacific is the fastest growing region. The main reason being the huge populations of rice consuming Asian countries like China and India and also the rapid demographic increase in these countries.
Some of the key players dominating this market include BASF SE, E.I. Du Pont de Nemours and Company, Bayer CropScience, Novozymes A/S, Brettyoung, Verdesian Life Sciences, Dow Chemical Company, Syngenta Ag, Precision Laboratories, Xitebio Technologies..
Browse through the full report at https://www.marketdataforecast.com/market-reports/agricultural-inoculants-market-2877/ and checkout our recent reports in the Agrochemicals at https://www.marketdataforecast.com/subcategory/agrochemicals-8/ For more insights and up-to-date industry news don’t forget subscribing to our newsletters.