The global microbial soil inoculants market size is expected to reach USD 593.53 million in 2024 and reach USD 934 million by 2029, growing at a CAGR of 9.5% from 2024 to 2029.
Microbial agricultural inoculants are customized formulations for soils or seeds to improve plant health and raise agricultural productivity. Microbial agricultural inoculants, also called soil inoculants, are beneficial for plant growth and nutrition. The use of microbial agricultural inoculants enhances plant growth, suppresses diseases increases the yield, and also protects the environment. For better productivity in crops, microbial agricultural inoculants focus on the symbiotic rhizobia that is used for the establishment of nitrogen-fixing symbiosis with the legumes. Microbial agricultural inoculants also play an important role in the aggregation of soil and also stabilize the soil.
The growth of this market is driven by the increase in demand for organic fertilizers in the agricultural sector. Secondary factors driving the market include a rise in organic and environment-friendly farming practices, a rise in demand for agricultural inoculants in developing countries like Asia-Pacific, and promotion by government agencies. Inadequate know-how and availability coupled with physical constraints like the 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.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
9.5% |
Segments Covered |
By Type, Source, Crop Type And Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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. |
North America accounted for the largest share of the agricultural inoculants market in 2018. Growth in the North American region is due to a high rate of adoption of new technologies to increase the efficiency of crop production and minimize the cost of operations. The Latin American region is projected to be the fastest-growing market due to the commercialized cultivation of corn and soybean crops. Asia Pacific has considerable potential for the development of the microbial agricultural inoculants market with vital contributors being China, India, and Japan inter alia.
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. Some of the market players dominate the global microbial inoculants market.
By Type:
By Source:
By Crop Type:
By Region
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