Latin America Microbial Inoculation Market

Latin America Microbial Inoculation Market Size, Growth, Trends and Forecast:

Latin America Microbial Inoculation Market was worth USD xx billion in 2021 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2026.

Inoculants are added to the soil for better growth of the plant and to increase agricultural productivity. They are beneficial for plant nutrition and its growth. It also helps in the aggregation and stabilisation of soil.

Drivers and Restraints of Latin America Microbial Inoculation Market:

The rising demand of organic fertilisers is driving the microbial inoculants market. Organic farming helps improve soil quality and controls diseases and pests which are likely to affect plant growth. The rise in the cost of agrochemicals and its negative effect on crops is further driving the market. However, there is a lack of awareness regarding the benefits of microbial inoculants which is restraining the market growth during the forecast period.

Latin America Microbial Inoculation Market Segmentation:

Latin America Microbial Inoculation Market – By Type:

• plant growth promoting microorganisms

• biocontrol agents and stimulants

Plant growth promoting microorganisms are leading the market as they help in enriching the soil and provide immunity to the plant.

Latin America Microbial Inoculation Market – By Source:

• fungal and bacterial inoculants

Bacterial inoculants hold the dominant share in the market.

Latin America Microbial Inoculation Market – By Application:

• soil and seed inoculation

Latin America Microbial Inoculation Market – By Crop Type:

• oilseeds and pulses
• fruits and vegetables and cereals
• grains

Geographical Analysis:

On the basis of geography, the market is analysed under various regions namely Argentina, Brazil, Mexico and rest of Latin America. Latin America is expected to show the fastest growth.

Key Players:

Some of the key participants in the microbial agricultural inoculants market include BASF S.E., E. I. Dupont De Nemours Company, Bayer Crop Science, Novozymes A/S, Verdesian Life Sciences LLC, Advanced Biological Marketing Inc., Brettyoung, Precison Laboratories LLC, Queensland Agricultural Seeds Pty Limited, Xitebio Technologies Incorporated.