The North America Agricultural Inoculants Market was worth USD 101.44 million in 2021 and estimated to be growing at a CAGR of 5.77%, to reach USD 132.39 million by 2026. With the growing demand for organic food and organic farming, and strict environmental regulations regarding the use of chemical fertilizers and pesticides, the necessity for agricultural inoculants is increasing which boosts the growth of this market in the above-mentioned forecast period.
Sometimes the plants do not get adequate nutrients be it due to infertility of the soil or poor retention or improper maintenance. Micro and Macro nutrients play important role in the growth and development of plant as they are a key component in many life stages of a plant. Agricultural Inoculants ensure that these essential nutrients are supplied to the plant thereby ensuring the health of plant and increasing crop yield.
North America Agricultural Inoculants Market Drivers:
The primary factors accounted for the growth of market are high demand and cost of basic agrochemicals like pesticides and fertilizers, increasing need for organic foods and organic farms, and the endless need for increased food productivity to fulfil the needs of growing population. However the lack of awareness among growers, a decrease in addressable farm acreage and low adoption rate due to lack of proper channels is hindering the growth of this market. Conversely, high growth potential in developing regions and technological advancement in production of inoculants offer the future growth potential for this market.
North America Agricultural Inoculants Market – By Type:
Plant Growth Promoting Micro-organisms
North America Agricultural Inoculants Market – By Source:
North America Agricultural Inoculants Market – By Application:
North America Agricultural Inoculants Market – By Crop Type:
Based on the geological analysis the market is segregated into regions of Canada and United States of America. Product wise the most popular product is PGPMs – Plant Growth Promoting Micro-organisms having highest share. United States is dominating the market with largest share due to its huge population and is the fastest growing region.
Some of the key corporations prominent 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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