A recent report published by Infinium Global Research on agricultural inoculant market provides in-depth analysis of segments and sub-segments in global as well as regional agricultural inoculant market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional agricultural inoculant market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global agricultural inoculant market. According to the report, the global agricultural inoculant market is projected to grow at a CAGR of 7.94% over the forecast period of 2018-2024.
The growing global population is dramatically creating a need for increased food. The chemical fertilizers used for the production of crops does not replace many trace elements present in the soil that are gradually depleting by repeated crop plantings, resulting in long-term damage to the soil. Agricultural inoculants are an environment-friendly alternative that can be combined safely with different types of fertilizers for enhancing the growth of crops. These inoculants are microbial inoculants used to promote plant growth. These amendments use endophytes that are present within the plants and improve plant nutrient uptake. Inoculants provide a dependable source of beneficial bacteria that survive in the soil and become available to the plant.
The key driving factors for the growth of agricultural inoculant market is the rise in demand for environment-friendly and cost-effective techniques owing to the developments in the field of sustainable agriculture. The use of agricultural inoculants is of economic importance to modern agriculture as they can replace costly mineral fertilizers and chemical pesticides, lowering production cost and reducing environmental pollution while ensuring higher yields. The lack of awareness about modern agricultural techniques acts as a hindrance for the growth of the agricultural inoculant market Moreover, the shifting trend towards organic farming, increasing awareness about the deficiencies of traditional agricultural practices and the rate of technological innovations in the agricultural industry could create an opportunity for the growth of the agricultural inoculant market.
By geography, Latin America regions hold the largest share in agricultural inoculant market. North America is one of the fastest growing agricultural inoculant owing to sustainable developments in the agricultural sector. In addition, Asia-Pacific is also expected to gain rapid development in the global agricultural inoculant owing to the rising demand for organic food products over the forecast period.
The report on global agricultural inoculant market covers segments such as source, types, and application. On the basis of source, the global agricultural inoculant market is categorized into bacterial inoculants, fungal inoculants, and Composite inoculants. On the basis of types, the global agricultural inoculant market is categorized into biocontrol agents, plant resistant stimulant and plant growth promoting microorganisms. On the basis of application, the global agricultural inoculant market is categorized into crops, fruits, and vegetables.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global agricultural inoculant market such as BASF, Bayer, DuPont, Novozymes, XiteBio Technologies, BrettYoung, Verdesian Lifesciences, LLC, Advanced Biological Marketing, Inc., Precision Laboratories, LLC and Queensland Agricultural Seeds Pty. Ltd.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global agricultural inoculant market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of agricultural inoculant market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the agricultural inoculant market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the agricultural inoculant market to understand the present and future trends in this market and formulate their strategies accordingly.
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