The Middle East and Africa Agricultural Inoculants Market was worth USD 29.68 million in 2021 and estimated to be growing at a CAGR of 20.71%, to reach USD 104.57 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 need for agricultural inoculants is increasing which increases the growth of this market in the aforesaid forecast period.
Agricultural Inoculants are beneficial microbes formulated and applied to soil or seed for improving plant health and growth, thereby developing agricultural production. They could be bacteria, fungi or other microbes which aid in preventing diseases, enhancing growth and developing crop yield. These Inoculants are available in solid, liquid, and freeze-dried forms. Inoculant standards have been changing and the rate of their usage is also on the rise.
High demand and cost of basic agrochemicals like pesticides and fertilizers, increasing popularity for organic foods and organic farms, and the constant need for increased food productivity to achieve the needs of growing population are the major factors accountable for the growth of market. Nevertheless the lack of awareness among farmers, a reduction in significant farm acreage and low adoption rate due to lack of proper channels is confining the growth of this market. Moreover, high growth potential in developing regions and technological advancement in synthesis of inoculants enhance the future growth potential for this market.
Middle East and Africa Agricultural Inoculants Market – By Type:
Plant Growth Promoting Micro-organisms
Middle East and Africa Agricultural Inoculants Market – By Source:
Middle East and Africa Agricultural Inoculants Market – By Application:
Middle East and Africa Agricultural Inoculants Market – By Crop Type:
Based on the regional analysis the market is segregated into regions of Middle East and Africa. Product wise the most widespread product is PGPMs – Plant Growth Promoting Micro-organisms having highest share. Middle East is dominating the market with largest share and Africa is the fastest growing region.
Some of the key organizations 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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