The Europe Agricultural Inoculants Market was worth USD 58.12 million in 2021 and estimated to be growing at a CAGR of 7.92%, to reach USD 88.6 million by 2026. With the increasing demand for organic food and organic farming, and increasing environmental awareness regarding the use of chemical fertilizers and pesticides, the requirement for agricultural inoculants is increasing which boosts the growth of this market in the above-mentioned forecast period.
Micro and Macro nutrients are the essential components in all the life stages of the plant. Absence or lack of these micro nutrients cause the plant to be unhealthy and decrease the productivity. The retention capacity of the soil is worsening each day due to pollution and other environmental disturbances. To ensure the health of the plant agricultural inoculants are applied to them. These are beneficiary microbes formulated to prevent plant diseases, help in their growth and increase food productivity.
Europe Agricultural Inoculants Market Drivers:
Factors like high demand and cost of basic agrochemicals like pesticides and fertilizers, increasing popularity for organic foods and organic farms, and the limitless need for increased food productivity to achieve the needs of growing population are driving the market forward. Yet the lack of awareness among farmers, a reduction in significant farm acreage and low adoption rate due to lack of proper channels is restricting the growth of this market. Moreover, high growth potential in developing regions and technological advancement in manufacture of inoculants offer the future growth potential for this market.
Europe Agricultural Inoculants Market – By Type:
Plant Growth Promoting Micro-organisms
Europe Agricultural Inoculants Market – By Source:
Europe Agricultural Inoculants Market – By Application:
Europe Agricultural Inoculants Market – By Crop Type:
Based on the regional analysis the market is segregated into regions of Germany, France, U.K., Italy and Spain. Product wise the most widespread product is PGPMs – Plant Growth Promoting Micro-organisms having highest share. Germany is dominating the market with largest share is the fastest growing region.
Some of the key firms in 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.
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