USD 458.12 billion
Agricultural Inoculants Market Size, Share, Growth Analysis, By Mode of Application(Seed Coating, Soil Application, Foliar Application), By Type(Bacterial, Fungal, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15C2050 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
63
|Figures:
77
Agricultural Inoculants Market Insights
Global Agricultural Inoculants Market size was valued at USD 458.12 billion in billion and is poised to grow from USD 491.10 billion in 2023 to USD 856.51 Billion by 2031, at a CAGR of 7.2% during the forecast period (2024-2031).
Agricultural practises, agriculture inoculants are becoming more generally known and utilised on a global scale. Farming techniques have shifted from conventional to organic, placing a greater emphasis than ever on inoculants. Farmers looking for sustainable and ecologically friendly alternatives to conventional farming methods may anticipate seeing a further increase in the use of agricultural inoculants in the future.
The Research Institute of Organic Agriculture reported an increase of 1.1 million hectares in organic farmland and a rise in organic retail sales in its global survey on organic agriculture. Investments in locally focused research and the participation of the public and private sectors in their production are being driven by the rising need for organic solutions like inoculants.
The market for agricultural inoculants is anticipated to grow as a result of the increased demand for food caused by a growth in the human population. By 2050, the world's population is predicted to reach 9.8 billion people, according to projections from the UN Department of Economic and Social Affairs. As an alternative to chemical fertilisers, which have been linked to environmental damage and unfavourable health impacts, agricultural inoculants have garnered a lot of attention. Beneficial microorganisms are present in microbial and soil inoculants, which promote plant development and reduce disease to raise agricultural output.
The general quality and output of the goods are enhanced as a result of the symbiotic relationship that forms between inoculants and plants. In the upcoming years, market expansion is anticipated to be driven by inoculant use, which boosts crop yields.
US Agricultural Inoculants Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Seed Coating
Fastest Growth
Foliar Application
Growth Rate
7.2% CAGR
Global Agricultural Inoculants Market ($ Bn)
Country Share for North America Region (%)
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Agricultural Inoculants Market Segmental Analysis
Global Agricultural Inoculants Market is segmented on the basis of type, mode of application, crop type and region. By type, the market is segmented into bacterial, fungal, others. By mode of application, market is segmented into seed coating, soil application, foliar application. By crop type, the market is segmented into commercial crops, pulses & oil seeds, grains & cereals, fruits & vegetables, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Agricultural Inoculants Market Analysis by Type
Bacterial inoculants are the dominant type of agricultural inoculant. They contain bacteria that can fix nitrogen, solubilize phosphorus, and produce growth hormones. The dominant type of bacterial inoculant is rhizobia, which are bacteria that form a symbiotic relationship with legume plants, fixing nitrogen from the atmosphere. The fastest growing type of bacterial inoculant is phosphorus-solubilizing bacteria, which can release phosphorus from insoluble forms in the soil.
The fungal inoculant segment is projected to exhibit the growth rate. Fungal inoculants contain fungi that can suppress plant diseases and improve nutrient availability. The dominant type of fungal inoculant is Trichoderma spp., which can suppress plant diseases, such as root rot and wilt. The fastest growing type of fungal inoculant is mycorrhizae, which forms a symbiotic relationship with plant roots, improving nutrient uptake and plant growth.
Agricultural Inoculants Market Analysis by Mode Of Application
The dominant mode of application of agricultural inoculants is seed coating. This is because it is a simple and efficient way to apply inoculants and it ensures that the inoculant is in direct contact with the seed. It involves coating seeds with a layer of inoculant before planting. This ensures that the inoculant is in direct contact with the seed and can start to work immediately after planting.
The fastest growing mode of application of agricultural inoculants is foliar application. This is because it is a more targeted way to apply inoculants and it can be used to treat crops that are susceptible to diseases or that need a quick boost of nutrients. It involves spraying inoculants directly onto the leaves of plants. This is typically done for crops that are susceptible to diseases or that need a quick boost of nutrients.
Global Agricultural Inoculants Market By Application
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Agricultural Inoculants Market Regional Insights
North America is expected to continue to lead during the projection period, with a value of USD 294.2 million in 2022. Agriculture inoculants are expected to expand faster in the North American region as a result of the cultivation of important inoculant-consuming crops including maize, soybeans, and canola in the U.S. and Canada. Furthermore, the market will expand due to the quicker adoption of innovative technologies that increase crop output while minimizing environmental harm.
The market with the fastest growth is in Asia-Pacific. Microbial inoculants are commonly regarded as potential substitutes for or additions to artificial pesticides and fertilizers in agriculture. The deployment and outcomes of these technologies in actual field settings are still unknown. China and India have been the top nations for microbial inoculants research. Microbial inoculants are crucial for the long-term growth of food security in the world's developing regions. The market for vaccines will grow as a result in the upcoming years.
Global Agricultural Inoculants Market By Region
- Largest
- Fastest
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Agricultural Inoculants Market Dynamics
Agricultural Inoculants Market Drivers
Rising Population and Food Security Concerns
- The world's population is continuously increasing, leading to rising concerns about food security. Agricultural inoculants play a crucial role in improving crop productivity and yield, thereby addressing food security challenges. These products enhance nutrient availability, stimulate plant growth, and protect crops against diseases and pests. The need to meet the growing food demand is driving the adoption of agricultural inoculants.
Shift towards Organic Farming
- The increasing consumer preference for organic food and the demand for organic produce have driven the adoption of organic farming practices. Agricultural inoculants, particularly biofertilizers and microbial-based products, are essential inputs in organic farming systems. They improve soil fertility, enhance nutrient availability, and reduce reliance on synthetic fertilizers and chemicals. The shift towards organic farming is a significant driver for the agricultural inoculants market.
Agricultural Inoculants Market Restraints
Limited Product Efficacy and Consistency
- The efficacy and consistency of agricultural inoculants can vary depending on factors such as product formulation, strain selection, and application practices. Inconsistent product performance or limited efficacy can undermine farmer confidence in agricultural inoculants. Ensuring reliable and consistent product performance is crucial to overcome this restraint.
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Agricultural Inoculants Market Competitive Landscape
The global agricultural inoculants market is highly competitive, with several multinational and regional players operating in the industry. Key companies are investing in research and development activities to develop innovative products and expand their market presence. Partnerships, collaborations, and acquisitions are common strategies adopted by companies to strengthen their product portfolios and expand their distribution networks.
Agricultural Inoculants Market: Top Player’s Company Profiles
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- Verdesian Life Sciences (United States)
- Lallemand Inc. (Canada)
- XiteBio Technologies Inc. (Canada)
- Agrinos AS (Norway)
- Koppert Biological Systems (Netherlands)
- Valent BioSciences LLC (United States)
- Terramax (United States)
- Rizobacter Argentina S.A. (Argentina)
- Advanced Biological Marketing (United States)
- BioWorks Inc. (United States)
- Precision Laboratories LLC (United States)
- Italpollina S.p.A. (Italy)
- Certis USA LLC (United States)
- Groundwork BioAg Ltd. (Canada)
- Qingdao Future Group (China)
- Biostadt India Limited (India)
- Mabitec AG (Germany)
Recent Developments
-
In January 2024, the International Institute of Tropical Agriculture (IITA) inaugurated a pioneering initiative named "Making effective bio-inputs work for smallholder farmers in sub-Saharan Africa" (BioSSA), generously funded by the Bill & Melinda Gates Foundation. This project signifies the initial strategic partnership in Africa, with a mission to transform agriculture. It aims to empower smallholder farmers throughout the region by offering innovative bio-input solutions.
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In December 2023, Groundwork BioAg® revealed that its primary mycorrhizal inoculant, Rootella®, has obtained approval for commercialization in China, Argentina, and South Africa. This development broadens access for farmers to a climate-smart solution aimed at enhancing plant and soil health. It effectively adds around 677 million acres (274 million hectares) of harvested cropland to the company's potential customer base, presenting significant opportunities for growth and impact.
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In November 2023, American Vanguard® Corporation, operating through its wholly owned subsidiary AMVAC Chemical Corporation, has extended its partnership with NewLeaf Symbiotics® of St. Louis across North America. Building on their initial agreement from late 2022, AMVAC and NewLeaf will now work together to introduce innovative biological solutions to various markets globally. The expanded partnership will encompass distribution in Argentina, Brazil, Ukraine, and China, marking a significant expansion of their collaboration.
Agricultural Inoculants Key Market Trends
- Focus on Precision Agriculture: Precision agriculture practices, such as site-specific crop management and precision nutrient management, are becoming more prevalent. Agricultural inoculants play a crucial role in precision agriculture by delivering targeted solutions to specific crop varieties, soil types, and nutrient deficiencies. The integration of agricultural inoculants with precision agriculture techniques helps optimize resource utilization and maximize crop yields.
Agricultural Inoculants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global agricultural inoculants market is experiencing significant growth and is poised for further expansion in the coming years. Agricultural inoculants are microbial or biochemical products that introduce beneficial microorganisms to the soil or plant roots, promoting plant growth, enhancing nutrient availability, and improving soil health. They play a crucial role in sustainable agriculture by reducing the need for synthetic inputs and contributing to environmentally friendly farming practices. The future of the agricultural inoculants market looks promising. Increasing awareness about sustainable agriculture, the need for higher crop yields, and regulatory support for environmentally friendly farming practices are expected to drive market growth. Technological advancements, such as improved inoculant formulations and precision agriculture practices, will further boost the market. Additionally, the emergence of new market players and the expansion of market reach in developing regions are anticipated to create new opportunities in the agricultural inoculants market.
| Report Metric | Details |
|---|---|
| Market size value in billion | USD 458.12 billion |
| Market size value in 2031 | USD 856.51 Billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Agricultural Inoculants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Agricultural Inoculants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Agricultural Inoculants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agricultural Inoculants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agricultural Inoculants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agricultural Inoculants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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