” the market is driven by the growing awareness about the necessity of soil minerals for plant growth. The market is expected to grow at a CAGR of 9.0% during the forecast period 2018–2023.
Asia Pacific to Dominate the Agricultural Inoculants Market
Asia Pacific will dominate the Agricultural Inoculants Market during the forecast period, followed by North America and Europe. The growing adoption of advanced agricultural practices in Asia Pacific is responsible for the high demand for agricultural inoculants. India dominates the agricultural inoculants market in Asia Pacific. In North America, the U.S. is the main consumer of bacterial inoculants, followed by Canada and Mexico.
Selected Regulatory Analysis Done in the Full Report
In terms of crop type, the cereals and grains segment will dominate the Agricultural Inoculants Market in the coming years. This growth can be attributed to the increasing cultivation of cereals and grains in developed and developing countries. In terms of application, seed inoculation will dominate the market since it is effective in most conditions and countries such as the U.S., Canada, Brazil, and the UK choose seed treatment by seed inoculants over genetically modified crops.
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Selected Driving Factors Mentioned in the Full Report
The growing inclination towards organic and environmentally friendly practices favor the growth of microbial inoculants.
The increasing demand for food due to the rising global population followed by the limited availability of cultivable land enhances the growth of the agricultural inoculants market.
The growing demand for agrochemicals due to organic and environmental farming practices, environmental concerns regarding the use of chemical pesticides and fertilizers, and promotion of agricultural inoculants by governmental agencies will benefit the market.
The growing demand for organically grown food products in Latin America will drive the demand for bacterial inoculants.
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Key Players of the Agricultural Inoculants Market
America's Best Inoculant, Monsanto BioAg, Soil Technologies Corp, and XiteBio Technologies Incare are the key players of the Agricultural Inoculants Market. America's Best Inoculant is applicable to different types of soils and soil compounds. It is found to be beneficial in the treatment of soybeans, peanuts, and peas/lentils. Monsanto BioAG has grown many microbial-based products over the years. It has integrated its chemical and microbial product platforms into one division known as Seed Applied Solutions. Soil Technologies Corporation provides growers with unique crop protection and soil conditioning products that are made from natural ingredients. XiteBio Technologies Incare is a Biotechnology company which deals with microbial technology and agri inputs for the agricultural market in America, Canada, Europe, and South America.
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