Asia Pacific Microbial Soil Inoculants market size was around USD 80.12 million in 2021. It is expected to grow at a CAGR of 9.7% to reach USD 126.21 million by 2026. It captures 20% of the global market.
Microbial agricultural inoculants are customized formulations for soils or seeds to improve plant health and to raise agricultural productivity. Microbial agricultural inoculants also called as soil inoculants are beneficial for plant growth and nutrition. The use of microbial agricultural inoculants enhances the plant growth, suppresses the diseases and increases the yield and also protects the environment. For better productivity in crops, microbial agricultural inoculants focus upon the symbiotic rhizobia that are used for the establishment of the nitrogen-fixing symbiosis with the legumes. Microbial agricultural inoculants also play an important role in the aggregation of soil and also stabilize the soil.
Asia Pacific Microbial Soil Inoculants Market Drivers:
The growth of this market is driven by the increase in demand of organic fertilizers in the agricultural sector. Secondary factors driving the market include rise in organic and environment-friendly farming practices, rise in demand of agricultural inoculants in developing countries like Asia-Pacific and promotion by the government agencies.Inadequate knowhow and availability coupled with physical constraints like relatively low shelf life of agricultural inoculants are the primary constraints for the market. Shoddy infrastructure, inadequate storage facilities, and hefty transportation costs, are challenges for market growth.
Asia Pacific Microbial Soil Inoculants Market - By Type:
Inoculants are utilized on a massive scale to improve the plant uptake of nutrients, improve the efficiency of crop production, and cater to the growing demand of organic agricultural products.
Asia Pacific Microbial Soil Inoculants Market - By Source:
Asia Pacific Microbial Soil Inoculants Market - By Crop Type:
Geographical Analysis:
By geography the market is segmented into India, China, Korea, Japan and others. Asia Pacific has considerable potential for the development of the microbial agricultural inoculants market with vital contributors being China, India and Japan inter alia.
Key players:
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