Global Agricultural Inoculants Market Report and Forecast 2024-2032

Global Agricultural Inoculants Market Size

The global agricultural inoculants market is expected to grow at a CAGR of 7.8% during the period 2024-2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Global Agricultural Inoculants Market Likely to be Driven by Growing Population, Increased Demand for Food, and Need to Maintain Soil Fertility

The need to scale up agricultural production to fulfill the food requirements of the growing world population and consistently maintain soil fertility is expected to drive the global market for agricultural inoculants. Further, growers are increasingly adopting agricultural inoculants as more and superior quality products become available. Agricultural inoculants are also sustainable solutions, and help reduce negative environmental impacts of agrochemical use. There has been increasing demand for organically grown crops across the globe. These factors are also likely to boost market growth. North America, Europe, Latin America and Asia are expected to be key markets.

Inoculants (or soil organisms) are used in agriculture for their beneficial effects. Bacteria such as rhizobia forge a symbiotic association with particular host plants like legumes; while the plant provides the bacteria carbon from photosynthesis and a habitat, the bacteria fix atmospheric nitrogen for the plant into a usable form (nitrogen fixation). Fungi such as mycorrhizae also create such associations with plants, providing phosphorus and other nutrients for the plant. There are types of bacteria and fungi that do not create such symbiotic associations with plants, but enhance plant growth, and/or stifle plant pathogens when added to soil. On the basis of mode of action, soil inoculants are divided into biofertilizers, biopesticides and plant resistance stimulants.

Biofertilizers carry live microorganisms that inhabit the roots of the plant or the surrounding area when applied to the seed, plant or soil, and foster plant growth by enhancing nutrient supply and availability. For example, inoculating legume seeds with appropriate bacteria helps the legume maximize nitrogen availability if nitrogen content is low in soil.

At times, nutrients like phosphorus, potassium and iron may be abundantly present in soil, but in forms unusable for plants. Several types of bacteria and fungi convert these nutrients into forms that plants may use. For example, mycorrhizal fungi inhabit plant roots and provide plants with phosphorus through phosphorus solubilisation. Further, some types of fungi and bacteria produce growth hormones that particularly enhance root growth, and promote plant growth in general.

Several soil types naturally suppress plant pests. Such soils are an outcome of particular pest organism – microorganism interactions. Common soil inoculants are created using these suppressive microorganisms and employed as biopesticides or biocontrol solutions. The most widely used biopesticide is Bacillus thuringiensis; it releases a toxin that eliminates soil grubs and nematodes.

Plant resistance stimulants refer to those types of bacteria and fungi that, while directly inhibiting plant pathogens, enable the plant to trigger its own defence mechanism (induced systemic resistance).

Innovative Products Enabling Better Yield and Fertility and Offering Novel Options Expected to Stimulate the Market

Innovative solutions that while providing superior yield and fertility, expand the range of options for growers and the agricultural industry are expected to boost the market. In 2021, Novozymes announced the launch of five powerful biological solutions to address major challenges for North American growers and establish a new sales team to serve U.S. customers directly. The solutions included BioniQ, an inoculant for row crops that combined three biological actives that jointly promoted stronger roots, better nutrient availability, and enhanced yield. TagTeam BioniQ Pro and TagTeam BioniQ Chickpea - inoculants designed for pulses and chickpea crops - combined four active biologicals to enhance tolerance to stress, improve nutritional availability and efficiency, and improve yield. Optimize FXC for soybeans used fortified LCO for higher yields and superior nitrogen fixation, soil nutrient accessibility, and water absorption. Taegro 2 was a foliar fungicide for fruit and vegetable crops, designed to offer protection against a variety of soilborne and foliar pathogens.

In 2020, XiteBio Technologies Inc. announced that its premium liquid inoculants - XiteBio® SoyRhizo® and XiteBio® PulseRhizo® - had been approved for organic agriculture use across Canada. Both products helped fix atmospheric nitrogen (N) into plant available form. Demand for organically grown crops has been on the rise across Canada.

Global Agricultural Inoculants Market Segmentation

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By type, the market is segmented into:

• Plant Growth Promoting Microorganisms
• Bio-Control Agents
• Plant-Resistant Stimulants
• Others

By microbes, the market is divided into:

• Bacteria (further broken down by type as given below)
  • Rhizobacteria
  • Nitrogen-fixing Bacteria
  • Phosphate-Solubilizing Bacteria
  • Others
• Fungi (further broken down by type as given below)
  • Trichoderma Spp.
  • Mycorrhiza
  • Others
• Others

By function, the market is divided into:

• Crop Nutrition
• Crop Protection
• Others

By mode of application, the market is segmented into:

• Seed Inoculation
• Soil Inoculation
• Others

By form, the market is classified into:

• Solid
• Liquid
• Granular
• Others

By crop type, the market is divided into:

• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others

By region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Industry Players in the Global Agricultural Inoculants Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Corteva, Inc.
• Novozymes A/S
• Verdesian Life Sciences, LLC
• Queensland Agricultural Seeds
• XiteBio Technologies Inc.
• TerraMax, Inc.
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report