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Inoculants Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Inoculants Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 14, 2024 /EINPresswire / -- The inoculants market has experienced robust growth in recent years, expanding from $1.16 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increased agricultural practices, increased awareness and education, crop rotation trends, environmental concerns, market competition.
Strong Future Growth Anticipated
The inoculants market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Inoculants Market
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.
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Major Players And Market Trends
Key players in the inoculants market include Corteva Inc., BASF SE, Bayer AG, Novozymes A/S, Verdesian Life Sciences LLC, BrettYoung seeds Limited, Queensland Agricultural Seeds.
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.
Segments:
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
Geographical Insights: North America Leading The Market
North America was the largest region in the inoculants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global inoculants market report during the forecast period. The regions covered in the inoculants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Inoculants Market Definition
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.
Inoculants Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Inoculants Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on inoculants market size, inoculants market drivers and trends, inoculants market major players, inoculants competitors' revenues, inoculants market positioning, and inoculants market growth across geographies. The inoculants market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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