Agricultural inoculants are being increasingly used for their capacity as biofertilizers and systemic acquired resistance (SAR) for various diseases and pathogens. The formulation of beneficial microorganisms as inoculants is being readily used by farmers as part of sustainable agriculture. This product is applied in many modern day conceptual agriculture like organic farming, biofertilizers, and biocontrol agents.
The growth of the agricultural inoculants market is attributed to high cost and demand for basic agrochemicals like pesticide and fertilizer, popularity of organic and environment friendly farming practices and the dire need for improved food productivity globally. Factors like lack of awareness about the agricultural and low adoption rate due to lack of proper channels are restricting the market growth of this niche segment. Additionally, high growth potential in the developing regions and technological advancement for product manufacturing may provide the future growth potential. Asia-Pacific is a potential region with investments coming from major players in the market.
By agricultural inoculants types, the market is segmented into Biocontrol Agents, Plant Resistant Stimulant and Plant Growth Promoting Microorganisms; PGPMs account for majority of market share. Among bacterial and fungal inoculants bacterial inoculants form most of the demand which is then further segmented into Rhizobacteria, Nitrigen Fixing, Phosphate Solubilizing and Others. Mycorrhiza based fungal inoculants are expected to show highest growth rate globally due to the increasing use as biofertilizers. Seed or soil mode of application of agricultural inoculants has the potential to grow as part of the eco-friendly agricultural production system. By application in crops, fruits and vegetable sector account for majority of the usage globally.
In the geographical segmentation, North America dominated the market place in 2015 with the largest share globally. Europe is the second largest market with around one-fifth of the global share; the regional market is led by Germany, UK and France. Latin America region would experience fastest growth owing to the oilseed crop applications. In Asia-Pacific, usage of inoculants in rice crops in countries like India, China and Vietnam etc.
The key companies in the market are BASF SE, Dupont, Novozymes and Advanced Biological Marketing, Inc. etc. The most preferred strategies of the key players are to achieve competitive advantage and to expand the business units in various geographical areas by joint ventures, expansions and acquisitions. The key players are also focusing on agreements and partnerships with local players and distributors to cater to more consumers. Introducing new effective products through investments in R&D is another strategy to stay ahead of the competition.
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. MARKET OVERVIEW
3.1.1 Increasing food demand and food security
3.1.2 Rise in cost of agrochemicals
3.1.3 Popularity of organic and environment friendly farming practices
3.2.1 Lack of awarness and availability
3.2.2 Low adoption rate due to infrastructure issue
3.3.1 High growth potential in developing markets
3.3.2 Technology advancement
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. MARKET SEGMENTATION
4.1 By Type
4.1.1 Biocontrol Agents
4.1.2 Plant Resistant Stimulant
4.1.3 Plant Growth Promoting Microorganisms
4.2 By Microbes
184.108.40.206 Nitrigen Fixing
220.127.116.11 Phosphate Solubilizing
18.104.22.168 Trichoderma Spp.
4.3 By Mode of Application
4.3.1 Seed Inoculation
4.3.2 Soil Inoculation
4.4 By Application
4.4.1 Cereals & Grains
4.4.3 Fruits & Vegetables
4.5 By Geography
4.5.1 North America
4.5.4 South America
22.214.171.124 South Africa
5. Competitive Landscape
6. Company Profiles
6.1 BASF SE
6.2 Bayer CropScience
6.3 Dow Chemical Company
6.7 Advanced Biological Marketing, Inc.
6.8 Precision Laboratories, LLC
6.9 Syngenta Ag
6.10 Queensland Agricultural Seeds Pty. Ltd.
6.11 Xitebio Technologies Inc.
6.12 Verdesian Life Sciences, LLC
6.13 BIO CAT
6.16 Hancock Farm and Seed