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The microbial agricultural inoculants market size is estimated to grow at a CAGR of 6.78% between 2023 and 2028. The market size is forecast to increase by USD 243.73 million. The growth of the market depends on several factors such as rising concerns over the use of chemical fertilizers and pesticides in agriculture, increasing global demand for food and increasing government support for sustainable and eco-friendly agricultural practices.
This microbial agricultural inoculants market report extensively covers market segmentation by type (plant growth promoting micro-organisms, biological pest control agents, and plant disease-resistance stimulants), application (seed inoculation, soil inoculation, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising concerns over the use of chemical fertilizers and pesticides in agriculture are notably driving the market growth. The agriculture industry has long relied on chemical inputs, including fertilizers and pesticides, to boost crop yields and combat pests, but this practice has raised environmental and health-related apprehensions. As awareness of the adverse effects of chemical-based agricultural practices grows, there is a substantial shift toward more sustainable and eco-friendly farming practices, which has created a favourable environment for the growth of microbial agricultural inoculants. Chemical fertilizers contribute to soil degradation, nutrient runoff into water bodies, and greenhouse gas emissions.
Furthermore, regulatory bodies and environmental organizations are advocating the reduced use of chemical fertilizers and pesticides in agriculture. Farmers increasingly recognize the long-term benefits of adopting these inoculants, not only for increasing crop yields but also for the well-being of the planet and future generations. Thus, rising concerns about the use of chemical fertilizers and pesticides are expected to drive the growth of the market during the forecast period.
New product developments related to microbial inoculants are an emerging trend shaping the market growth. The development of innovative and highly specialized microbial agricultural inoculants is gaining momentum, driven by several key factors. For instance, Novozymes announced in 2021 the launch of five potent biological solutions to solve significant issues facing farmers in North America and create a new sales force to provide direct customer services to Americans. One of the solutions was BioniQ, a row crop inoculant that blends three biological actives, which together encourage stronger roots, improve nutrient availability, and increase crop yield. Four active biologicals were incorporated into the TagTeam BioniQ Pro and the TagTeam BioniQ Chickpea inoculants that are meant for pulse and chickpea crops to increase tolerance to stress, boost nutritional availability and efficiency, and enhance yield.
Similarly, in January 2023, VerdesianLife Science Accolade introduced a brand-new biological growth-enhancer liquid for plants, which contains Azospirillum brasilense, a fixing bacterium that can boost root growth and secondary lateral root systems, resulting in greater nutrient uptake and higher yields. Thus, the development of new microbial agricultural inoculants will drive the growth of the global microbial agricultural inoculants market during the forecast period.
The reluctance of farmers to shift from existing farming practices involving chemical pesticides is a significant challenge hindering market growth. Many farmers across the world are reluctant to shift from existing farming practices using chemical pesticides to microbial agricultural inoculants. The penetration of microbial agricultural inoculants in the global market is lower than chemical pesticides. Globally, there has been a rise in demand for the proper use of fertilizers, as any degradation in the quality of the soil results in micronutrient deficiency in crops. A balanced crop nutrition level helps in sustainable production. It is estimated that 50% of agricultural soil across the world is deficient in zinc.
Moreover, the need to increase crop acreage and augment crop growth is encouraging farmers to use chemical pesticides and fertilizers that can be instantly absorbed by plants and provide immediate results. Thus, these immediate results, which can prove detrimental in the long run, are making farmers reluctant to shift from the existing practices of using chemical pesticides in agriculture, which can become a major challenge to the growth of the global microbial agricultural inoculants market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Microbial Agricultural Inoculants Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE - The company offers microbial agricultural inoculants such as Poncho Votivo bioseeds made up of Bacillus microbial and Votivo prime made up of Bacillus firmus microbial, under its brand called BioSolutions.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The plant growth promoting micro-organisms segment is estimated to witness significant growth during the forecast period. Plant growth-promoting microorganisms represent a crucial category within the global microbial agricultural inoculants market. These microorganisms play a pivotal role in enhancing plant health, improving nutrient uptake, and boosting overall crop productivity.
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The plant growth promoting micro-organisms segment was the largest and was valued at USD 385.16 million in 2018. Plant growth-promoting microorganisms contribute to improved soil fertility, reduced reliance on chemical inputs, and increased crop yields, making them a driving force in the global microbial agricultural inoculants market. Novozymes, one of the key vendors in the market, offers a range of BioAg products containing plant growth-promoting microorganisms, such as mycorrhizal fungi and beneficial bacteria. These products are designed to enhance nutrient uptake, improve plant health, and boost crop productivity in a sustainable manner. Thus, the increasing focus on sustainability in agriculture will drive the growth of this segment of the market during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The microbial agricultural inoculants market in North America was led by the US market. The market is projected to grow significantly due to the growing demand for organic farm products and stringent regulatory guidelines on the use of chemical fertilizers in the region. The ban on chemical pesticides and fertilizers, especially in Canada, is projected to fuel market growth. Microbial agricultural inoculants are mostly used in the cultivation of cereals and grains in the region. The market for organic products in North America is growing at a significant rate due to increasing consumer interest in organic products. The presence of key vendors combined with new investments and initiatives, is poised to drive the growth of the microbial agricultural inoculants market significantly in North America. The key vendors are making significant investments in the region.
Furthermore, regional companies are taking several initiatives to increase sales of their products. For instance, in 2022, the second year of the Hometown Roots Family Contest was launched by LALLEMAND PLANT CARE. Customers who purchased at least 160 acres of Lallemand inoculant products received USD 5,000, which they could donate to any charity or local group of their choice. Such initiatives taken by companies will continue to drive the growth of the regional microbial agricultural inoculants market during the forecast period.
The outbreak of the COVID-19 pandemic hindered the growth of the regional microbial agricultural inoculants in 2020-2021. However, the initiation of large-scale COVID-19 vaccination programs by the various governments in the region in early 2021 resulted in containing the COVID-19 pandemic. This led to the resumption of operations in microbial agricultural inoculant manufacturing facilities and led to an increase in the demand for microbial agricultural inoculants due to an increase in agriculture activities in the region. This trend is expected to continue and drive the growth of the regional microbial agricultural inoculants market during the forecast period.
The microbial agricultural inoculants market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Microbial Agricultural Inoculants Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
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Market Growth 2024-2028 |
USD 243.73 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.33 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 44% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AquaBella Organic Solutions LLC, BASF SE, Bayer AG, BIO CAT Inc., Bioceres Crop Solutions Corp., Corteva Inc., Evogene Ltd., Groundwork BioAg, Hello Nature Inc., IAB Investigaciones y Aplicaciones Biotecnologicas, Imex Agro, Kemin Industries Inc., Lallemand Inc., Mycorrhizal Applications, New Edge Microbials Pty Ltd., Novozymes AS, Premier Tech Ltd., Queensland Agricultural Seeds, Soil Technologies Corp., and Verdesian Life Sciences LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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