The global inoculants market was valued at approximately USD 1.1 billion in 2022 and is expected to reach around USD 1.7 billion by 2027, reflecting a compound annual growth rate (CAGR) of 8.1%. This growth is driven by a significant rise in demand for inoculants, as farmers increasingly recognize their benefits for enhancing farm profitability. Inoculants are known to improve soil quality and promote crop growth, contributing to their rising popularity. Additionally, the market is poised for robust growth due to the increasing demand for organic food products. Growing awareness of sustainable agriculture, which emphasizes reducing farming costs and adhering to environmental safety standards, has also led to greater adoption of agricultural inoculants.
Inoculants Market Drivers: Shift in trend toward adoption of organic and environment-friendly farming practices
Global eating habits and preferences have undergone a significant transformation, with consumers increasingly prioritizing health, nutrient content, and food quality. As a result, there has been a gradual shift towards organic food, despite its higher price compared to conventional options. This growing awareness has energized the organic market, as consumers are willing to invest in products that promote their health and wellness. Consequently, the area dedicated to organic farming is expanding worldwide, leading to an increasing demand for organic inputs to enhance crop productivity. This surge is driving robust growth in the inoculants market, as more farmers utilize inoculants to cultivate crops resistant to abiotic stress. Additionally, various governments in developing economies, such as India, are actively supporting farmers in transitioning to organic and sustainable agricultural practices, further propelling the global inoculants market.
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Agricultural Inoculants Segment Expected to Experience Stronger CAGR Growth in the Inoculants Market
Growing environmental concerns regarding chemical fertilizers have resulted in a heightened interest in agricultural inoculants, which are expected to fuel market growth. These inoculants enhance plant growth by utilizing beneficial bacteria while minimizing environmental impact. As organic and eco-friendly farming practices gain popularity, the demand for agricultural inoculants continues to rise. Major companies like BASF (Germany), Bayer (Germany), and Novozymes (Denmark) provide agricultural inoculants suitable for a diverse range of crops.
South America Expected to Experience the Highest CAGR in the Inoculants Market Throughout the Forecast Period.
The inoculants market in South America is expected to experience the highest compound annual growth rate (CAGR) from 2022 to 2027. This growth is largely attributed to the increasing need for improved livestock management practices to meet the rising demand for meat and dairy products, which is anticipated to boost the market for silage inoculants in the region. The availability of arable land and the expansion of farmland, particularly in Brazil and Argentina, create favorable conditions for market growth. Additionally, the robust demand for organic food products in South America is further propelling the agricultural inoculants market.
- Corteva Agriscience (US)
- BASF SE (Germany)
- Bayer AG (Germany)
- Novozymes A/S (Denmark)
- Cargill, Incorporated (US)
- Archer Daniels Midland Company (US)
- DSM (Netherlands)
- Chr. Hansen Holding A/S (Denmark)
- Lallemand Inc. (Canada)
- Kemin Industries, Inc (US)
- Verdesian Life Sciences (US)
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Corteva Agriscience operates through two main segments—seed and crop protection. It offers seed inoculants through its seed business segment. The company offers agricultural inoculants through its Pioneer brand. It is used to maximize forage performance and thus maximize feed performance. In September 2022, Corteva Agriscience announced the acquisition of Symborg, an expert in microbiological technologies. This would help the company to accelerate the development of a biologicals portfolio. Corteva Agriscience, being a divestiture from DowDuPont, owns a pre-established global presence complemented by its high brand image and intensive R&D activities in the agriculture industry. The firm develops and supplies high-quality products to farmers in over 90 countries.
BASF SE is a chemical manufacturing giant operating in the areas of chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. The company provides inoculants for soybeans, chickpeas, and peanuts under its brands, Vault and Nodulator. In March 2022, BASF SE announced a collaboration with AMVAC Chemical Corp to develop a Rhizo-Flo soybean inoculant solution for SIMPAS-applied solutions. The agricultural solutions segment of the firm attributed around 11% of the total sales of the company in 2021. The company’s dedicated R&D facilities, which continuously introduce new products, have helped the company gain a competitive advantage in the market. The company’s total R&D expenditure in 2021 was USD 1067 million. BASF SE operates in more than 90 countries with around 232 production sites across regions such as Europe, the Americas, Asia, the Middle East, and Africa. This enables the company to large-scale production of different chemicals.
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Inoculants Market Segmentation:
This research report categorizes the inoculants market based on type, microbe, crop type, form, and region.
By Type
- Agricultural inoculants
- Silage inoculants
By Microbe
- Bacterial
- Fungal
- Other microbes
By Crop Type
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Forage
- Other crop types
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