The agricultural inoculants market is projected to grow at a CAGR of 9.5% between 2014 and 2019.
Dallas, TX -- (SBWIRE) -- 01/19/2015 -- The report, "Agricultural Inoculants Market by Type (PGPMs, Bio-Control Agents, & Plant Resistance Stimulants), Source (Bacterial & Fungal), Mode of Application, Crop Type, & Geography - Global Trends & Forecasts to 2019", defines and segments of the agricultural inoculants market with analyses and projection of the size and trends in terms of value. It also identifies the driving and restraining factors for the market with analyses of opportunities, burning issues, and challenges.
Browse 71 market data tables and 65 figures spread through 207 pages and in-depth TOC on "Agricultural Inoculants Market - Global Trends & Forecasts to 2019"
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The market has been segmented on the basis of major regions such as North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW); and their value has been projected. The size of the markets in the key countries have also been covered and projected for each region. The market has further been segmented on the basis of mode of application, by type, by source, by crop type and their size has been projected.
Agricultural inoculants are the formulations of beneficial living organisms that when added to the soil, directly or indirectly improve their nutrient availability to the host plant and promote plant growth and development. Sustainable agriculture is configured on use of a variety of prophecies, phenomena, and products stressing on land reclamation, and awareness towards hazards of over fertilization and pollution on health and ecosystem. This concept urges the utilization of an array of techniques as organic farming, biofertilizers, and biocontrol agents. Seed or soil inoculation with agricultural inoculants has the potential to offer more eco-friendly agricultural production than the use of mineral fertilizer and chemical pesticides intensive crop production system. Organic supplementation with organic sources such as manure, compost or vermiculite, along with agricultural inoculants such as Rhizobacteria and Azotobacter could further enhance crop yield and development.
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The global market for agricultural inoculants was valued at around $232.22 million in 2013. This market is projected to grow at a CAGR of 9.5% from 2014 to reach $398.56 million by 2019. North America dominated the global agricultural inoculants market in 2013. The Latin American demand for these compounds is projected to emerge as the fastest growing at a CAGR growth rate of ~10% from 2014 to 2019. Agricultural inoculants consumption and developments varies according to the regional popular crops such as soybean crop in the U.S., Brazil, and Argentina, pea and lentil crops in Canada, rice crop in India, China, Thailand, Philippines, and Vietnam.
The agricultural inoculants market is highly fragmented with key market players driving the growth with agreements, expansions, acquisitions and new product launches. Numerous manufacturers, mainly small to medium size, exists worldwide and have been producing inoculant products similar in quality and quantity for decades. The market is competitive with leading players being involved in the research & development of new agricultural inoculants. The market caters to the applications such as plant growth promoting micro-organisms, bio-control agents, and plant resistance stimulants. Lack of awareness among the farmers and prevailing problems with manufacturers, marketing, and distribution issues are restricting the availability of inoculants at farm level and thus hindering the growth of the agricultural inoculants market.
Novozymes A/S (Denmark), BASF SE (Germany), DuPont (U.S.), and Advanced Biological Marketing, Inc. (U.S.) collectively account for around 70% of the total agricultural inoculants market share. Other players such as Bayer CropScience (Australia), BrettYoung (Canada), XiteBio Technologies Inc. (Canada), Verdesian Life Sciences, LLC. (U.S.), Precision Laboratories, LLC (U.S.), and Queensland Agricultural Seeds Pty. Ltd. (Australia) also have a strong presence in the market.
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