DUBLIN--(BUSINESS WIRE)--The "Inoculants Market by Type (Agricultural Inoculants and Silage Inoculants), Microbe (Bacterial and Fungal), Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, and Forage), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Inoculants Market is Estimated to Reach USD 808 Million in 2019 and is Projected to Account for USD 1,207 Million by 2025, Recording a CAGR of 6.9%
In South America, countries such as Brazil and Argentina are projected to offer high growth prospects in the coming years, as they are ranked among the largest producers of soybean at a global level, driving the demand for inoculants in the region. Apart from this, the livestock industry is witnessing high growth in the Asia Pacific and South American regions due to the increase in demand for animal-based products, such as eggs, milk, and meat. This has led to a rise in the production and demand for livestock products, and thus, the price of feed grains has also increased. These factors are projected to increase the sales of silage inoculants in the coming years.
The cereal & grains segment in the inoculants market is estimated to account for the largest share in 2019.
Based on crop type, the cereals & grains segment is estimated to account for the largest share in the inoculants market in 2019. Cereals and grains include wheat, corn, barley, and rice crops. The US is a major wheat-producing country. According to the USDA, wheat ranks as the third majorly produced crop among the US field crops, following corn and soybean. Apart from this, Brazil is the largest producer of corn and is also ranked among the top producers at a global level. According to the US Department of Agriculture's World Agricultural Supply and Demand Estimates, the country's corn exports was 35 million MT during 2018-2019, due to which it is the second-largest corn exporter at a global level, after the US.
The silage inoculants segment in the inoculants market is estimated to account for the largest share in 2019.
Based on type, the silage inoculants segment is estimated to account for the largest share in the inoculants market in 2019. The silage inoculants segment accounts for the largest share in the inoculants market. Sales of silage inoculants are on the rise due to the expansion of the livestock industry in emerging countries across regions. Urbanization has increased the sales of animal-based products, such as milk, eggs, and meat. With the rise in prices of feed grains, agricultural inoculants serve as a suitable alternative.
The fungal segment is projected to record the fastest growth during the forecast period.
Fungal inoculants help plants to absorb phosphorus and other nutrients for use. Mycorrhizal fungi live in plant roots and are well-known for their ability to provide phosphorus to plants. The demand for fungal microbes is projected to increase in the coming years, with the rise in organic farming practices at a global level.
The South American inoculants market is projected to witness significant growth.
The South American inoculants market is projected to account for the largest share by 2025. Countries such as Brazil and Argentina are the largest country-level markets in the Latin American region. Both these countries are the major producers of soybean. Agricultural inoculants are widely used for soybean crops, and hence, the consumption of inoculants is projected to increase in the next five years. It is one of the largest regions that have an adequate organic agricultural land area, due to which the demand for agricultural inoculants remains high in this region.
- Shift in the Trend Toward the Adoption of Organic and Environment-Friendly Farming Practices
- Environmental Concerns Related to the Usage of Fertilizers and Pesticides
- Increase in Feed Grain and Compound Feed Prices
- Expansion of the Livestock Industry, Owing to Increased Demand for Animal-Based Products
- Limited Awareness Regarding Both Agricultural and Silage Inoculants
- Shelf Life of Agricultural Inoculants
- Expansion of the Livestock Industry in the Asia Pacific and the South American Regions
- South America is A Key Producer of Soybean, Making It A Key Revenue Generator for Agricultural Inoculants
- Poor Infrastructure
- Silage Losses Due to Fungi and Mycotoxin
- Advanced Biological Marketing Inc.
- Archer Daniels Midland Company (ADM)
- BIO-CAT Microbials
- BIOMIN Holding GmbH
- Chr. Hansen
- Kemin Industries
- Lallemand Inc.
- Precision Laboratories, LLC
- Provita Supplements GmbH
- Queensland Agricultural Seeds Pty. Ltd.
- Terramax, Inc.
- Verdesian Life Sciences
- XiteBio Technologies Inc.
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