Agricultural Inoculants Market Global Research Report Crop Type (Cereals & Grains, Oil Seed & Pulses, Fruits & Vegetables and others), Source (Bacterial, Fungal and others), Application (Seed &Soil Inoculation and others) and Region – Forecast till 2023
Pune, India -- (SBWIRE) -- 07/19/2018 -- Market Overview:
Increasing awareness regarding adverse impact of chemical fertilizers has provided impetus to the growth of agriculture inoculants market. Continuously increasing food demand owing to the growing global population coupled with limited availability of cultivable land has accelerated the growth of the market. Furthermore, organic farming is being promoted aggressively by government authorities, NGOs, and farmer organizations in developing countries by providing financial support and increasing awareness on the benefits of organic farming. However, unclear legislation of agricultural inoculants may hamper the growth of the market. Furthermore, consumers are becoming increasingly aware about the harmful impacts of chemical fertilizers and pesticides.
In addition, various programs have been launched to strengthen economic development in developing economies by training farmers, providing extension services in rural agricultural areas, training in underserved communities with marketable job skills, offer small businesses and micro-enterprises with greater market access, and working closely with city governments to implement green technologies. For instance, the partnership between CropLife and the U.S. government aid farmers to carry out production effectively while preserving the environment, safeguarding their health and safety and making a difference in farmers' lives. All such factors create lucrative opportunities for the market growth.
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Latest Industry Updates:
Mar 2017 BASF introduced biological inoculants Granouro in Brazil for soybean crop
Aug 2017 BASF plans to expand its manufacturing facilities in Saskatoon for biological inoculants production to enhance production efficiency and operational safety.
Dec 2016 The BioAg Alliance introduced corn inoculant Acceleron B-300 SAT which is an improvement over JunpStart inoculant. The product has been derived from fungus which occurs naturally in soil.
Non 2015 BASF changed the name of HiStick inoculants to Nodulator to streamline its product portfolio
Major Key Players:
Key players who provide agricultural solutions segment include crop protection products that guard against fungal diseases. Furthermore, the companies are emphasizing more on new product launch to acquire the new customer base. BASF is one of the key player in agricultural inoculants market. It engages in the provision of chemicals offering wide range of chemicals and intermediates solutions.
The key players profiled in the global Agricultural Inoculants Market Report are Monsanto Co. (U.S.), DuPont Inc. (U.S.), Novozymes (Denmark), MBFi (South Africa), BASF (Germany), Soil Technologies Corporation (U.S.), and Horticultural Alliance Inc. (U.S.) among many others.
The global agriculture inoculants market has been divided into type, source, application, and region.
On The Basis Of Type: Seed inoculants, Soil inoculants, and Others
On The Basis Of Source: Bacterial, Fungal, and Others
On The Basis Of Application: Cereals & Grains, Oil Seed & Pulses, Fruits & Vegetables, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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In 2017, North America was dominating the agricultural inoculants market and is projected to grow with significant growth rate during the forecast period. In North America, Mexico is expected to grow at the highest rate followed by Canada over the forecast period. Moreover, Latin America is projected to witness the highest growth rate during the forecast period 2017-2023 in which Argentina is expected to grow at the highest growth rate. In Latin America, Brazil is dominating the market with more than two-third of the market share in 2017.