Agricultural Inoculants Market Size Set at USD 1.57 Billion by 2030, Boasting a 10.13% CAGR (2023-2030)"
Market Overview
Market Research Future (MRFR) findings on the Global Agricultural Inoculants Market 2023 reveals different factors that can impact the market across the review period 2023 – 2030. The Global Agricultural Inoculants Market can thrive at 10.13% CAGR in the forecast period. The preference for organic foods is rising significantly, influencing their demand.
Agricultural Inoculants Market Report Size Anticipated to Reach at a USD 1.57 Billion By 2030.
This is anticipated to drive the agriculture inoculant market in the years to come. In addition, high investment in the identification of organic molecules and the development of cost-effective right formulation to enhance plant metabolism performance in a short span can support the expansion of the agricultural inoculants market across the study period. The high traction of agricultural inoculants due to their benefits, such as better crop yield, improved nutrient efficiency by minimizing loss and refining nutrient uptake can support the expansion of the agriculture inoculant market across the analysis period.
Market Segment Analysis
The segment assessment of the Agricultural inoculants market is done by crop type, source, and application.
The type based segments of the agriculture inoculants market are oilseed & pulses, cereals & grains, and fruits & vegetables among others. The surge in demand cereals and grains can drive their cultivation across developing and developed economies. This is expected to support the expansion of the agriculture inoculant market through the review period. The cereals and grains segment can earn high turnover for the global market in the years to come.
The source based segment of the agriculture inoculants market are bacterial, and fungal among others. The Bacterial inoculants can significantly boost agronomic efficiency as they are likely to curb environmental pollution. This is accepted to support the market. The affordable production costs of bacterial inoculants can also impact the expansion of the market in the years to come. The hazardous effect of chemical fertilizers can made negligible by efficient inoculants.
The application based segments of the agriculture inoculants market are soil inoculation, and seed inoculation among others. The soil inoculation segment can earn high profits for the global market.
Regional Analysis
The agricultural inoculants market trends are studied across North America, EU, and APAC. North America agriculture inoculants market can experience gradual surge in its value across the study period, states MRFR regional findings. The agricultural inoculants market expansion is attributed to the expansion of population base, resulting in escalation of demand for enhanced agricultural products. There are different players that are actively focused on research & developments projects of enhance agricultural solutions. These are creating the need for agricultural inoculants across the analysis period. The presence of North American regulations conforming of agricultural inoculants practise can also support the regional market. EU agricultural inoculant market is observed to hold a huge growth potential and can thrive in the years to come. The rise in agricultural inoculant market can be driven due to increase in per hectare yield as the regional population surges, leading to rise in demand for food. In Asia Pacific, the increase in the consumption of grains and cereals across the rising populace can impact the expansion of the regional market. In addition, the surge of the e-commerce business can support the expansion of the agriculture inoculant market in the years to come.
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Key Players
- Corteva Inc (U.S.)
- BASF SE (Germany)
- Bayer AG (Germany)
- Novozymes A/S (Denmark)
- Brettyoung (Canada)
- Rizobacter Argentina S.A. (Argentina)
- Italpollina S.p.A. (Italy)
- Advanced Biological Marketing Inc. (U.S.)
- Soil Technologies Corporation (U.S.)
- Verdesian Life Sciences LLC (U.S.)
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