Press release
Inoculants Market Top Players, Analysis And Forecast 2024-2033
Inoculants Market
The inoculants market size is expected to see strong growth in the next few years. It will grow to $1.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to climate change impact, government sustainability initiatives, research and development investments, consumer demand for sustainable agriculture, precision agriculture. Major trends in the forecast period include technological innovations, technology adoption, crop-specific solutions, collaborations and partnership, sustainable practices.
Market Overview -
Inoculants are live microorganisms that function as biological stimulants or biocontrol substances and are called versatile due to their varied effects and processes in plants, including beneficial effects on seed germination. It guarantees that the legume's unique microbes are available to the plant after it germinates.
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Genetically Modified Plants' Impact On Inoculants Market Growth
The growing need for genetically modified plants is expected to propel the growth of the inoculants market going forward. Genetically modified plants are biological plants that have been altered using recombinant DNA technology, a process that involves the insertion of specific DNA sequences into the plant's genome to confer new traits or characteristics. Inoculants help genetically modified plants by improving their productivity and sustainability. Microbial inoculants are eco-friendly and sustainable plant nutrient transporters that can minimize chemical input impacts and intensify the quality and quantity of farm products. For instance, in January 2021, according to reports shared by the United States Department of Agriculture (USDA), a US-based federal agency, in 2021, Canada planted over 11.6 million hectares of genetically modified crops, primarily canola, soybeans, corn, sugar beets, and some alfalfa, an increase of 7% from 10.9 million in 2020. Additionally, in 2021, a whopping 95 % of the canola planted genetically modified. And 76 % of the soybeans planted in 2020 will be genetically modified. Therefore, the growing need for genetically modified plants is driving the growth of the inoculants market.
Competitive Landscape -
Major companies operating in the inoculants market report are Corteva Inc., BASF SE, Bayer AG, Novozymes A/S, Verdesian Life Sciences LLC, BrettYoung seeds Limited, Queensland Agricultural Seeds, XiteBio Technologies Inc., Precision Laboratories LLC, Cargill Incorporated, Koninklijke DSM N.V., Kemin Industries Inc., Microbial Biological Fertilizers International (MBFi), Advanced Biological Marketing Inc., Archer Daniels Midland Company, Horticultural Alliance Inc., Syngenta AG, AquaBella Organics LLC, Dow Inc., Premier Tech, Bioceres Crop Solutions, Lesaffre, Lallemond Inc., Mapleton Agri Biotec Pty. Ltd., New Edge Microbials Pty. Ltd., T.Stanes & Company Limited, Bactolife A/S, Rhizobia Inoculants Inc., Symbionix Inc., TerraMax Inc.
Breakthrough In Mycorrhizal Inoculant Technology For Enhanced Nutrient Quality
Major companies operating in the inoculants market are developing innovative solutions such as mycorrhizal inoculant technology to maximize nutrient quality. Mycorrhizal inoculant technology is the application of beneficial fungi, called mycorrhizal fungi, to plant roots to enhance their growth and health. For instance, in August 2021, Mycorrhizal Applications, US-based provider of commercial mycorrhizal fungi soil inoculants, launched MycoApply EndoThrive. It's a next-generation liquid formulation containing multiple species of arbuscular mycorrhizal fungi (AMF) on a non-aqueous liquid carrier. This innovative product represents a significant advancement in mycorrhizal inoculant technology, offering a range of benefits for professional growers. It can be conveniently tank-mixed with liquid fertilizers for simultaneous application, further simplifying the application process.
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Key Segments -
The inoculants market covered in this report is segmented -
1) By Type: Agricultural Inoculants, Silage Inoculants
2) By Form: Dry, Liquid
3) By Microbe: Bacterial, Fungal, Other Microbes
4) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And vegetables, Forage, Other Crop Types
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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