Microbial Soil Inoculants Market size was around USD 452.07 million in 2020. It is expected to grow at a CAGR of 9.5% to reach USD 751.51 million by 2025.
Microbial agricultural inoculants are customized formulations for soils or seeds to improve plant health and to raise agricultural productivity. Microbial agricultural inoculants also called as soil inoculants are beneficial for plant growth and nutrition. The use of microbial agricultural inoculants enhances the plant growth, suppresses the diseases and increases the yield and also protects the environment. For better productivity in crops, microbial agricultural inoculants focus upon the symbiotic rhizobia that are used for the establishment of the 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 of organic fertilizers in the agricultural sector. Secondary factors driving the market include rise in organic and environment-friendly farming practices, rise in demand of agricultural inoculants in developing countries like Asia-Pacific and promotion by the government agencies.
Inadequate knowhow and availability coupled with physical constraints like 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.
The market is segmented
By Type
Plant growth promoting microorganisms (PGPMs),
Bio-control agents
Plant-resistance stimulants
By Source
Bacterial
Fungal
Others
Crop Type
Cereals & grains
Oilseeds & pulses
Fruits & vegetables
Crops
Geographical Analysis:
By geography the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America accounted for the largest share in agricultural inoculants market in 2014. Growth in the North America region is due to 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 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.
Key Players in this Market:
Key players in the market include 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.