Latin America Agricultural Inoculants Market

Latin America Agricultural Inoculants Market Size (2024 to 2029)

The Latin American agricultural inoculants market size is expected to reach USD 53.29 million in 2024 and is anticipated to reach USD 74.50 million by 2029, estimated to be growing at a CAGR of 6.93% from 2024 to 2029. With the increasing popularity for organic food and organic farming, and strict rules regarding the use of chemical fertilizers and pesticides, the necessity for agricultural inoculants is increasing which enhances the growth of this market in the above-mentioned forecast period.

Micro and Macronutrients are the essential components in all the life stages of the plant. Absence or lack of these micro nutrients cause the plant to be unhealthy and decrease the productivity. The retention capacity of the soil is worsening each day due to pollution and other environmental disturbances. To ensure the health of the plant, agricultural inoculants are applied to them. These are beneficiary microbes formulated to prevent plant diseases, help in their growth and increase food productivity.

Factors accountable for driving the market's high demand and cost of basic agrochemicals like pesticides and fertilizers, increasing demand for organic foods and organic farms, and the never-ending need for increased food productivity to achieve the needs of a growing population. On the other hand, the lack of awareness among growers, a notable reduction in cultivable, and a low adoption rate due to a lack of proper channels are slowing the growth of this market. Moreover, high growth potential in developing regions and technological advancement in making of inoculants offer the future growth potential for this market.

This research report on the Latin American agricultural inoculants market is segmented and sub-segmented into the following categories.

Latin America Agricultural Inoculants Market Analysis By Type

• Plant Growth Promoting Micro-organisms
• Bio-control agents
• Plant-resistance Stimulants

Latin America Agricultural Inoculants Market Analysis By Source

• Bacterial
• Fungal
• Others

Latin America Agricultural Inoculants Market Analysis By Application

• Seed inoculation
• Soil inoculation
• Others

Latin America Agricultural Inoculants Market Analysis By Crop Type

• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Others

COUNTRY ANALYSIS

• Mexico
• Argentina
• Brazil
• Chile

Based on the regional analysis the market is segregated into regions of Mexico, Brazil and Argentina. Product wise the most widespread product is PGPMs – Plant Growth Promoting Micro-organisms having highest share. Brazil is dominating the market with largest share and Mexico is the fastest growing region.

KEY PLAYERS IN THE LATIN AMERICAN AGRICULTURAL INOCULANTS MARKET

Some of the key players in this market include BASF SE, E.I. Du Pont de Nemours and Company, Bayer CropScience, Novozymes A/S, Brettyoung, Verdesian Life Sciences, Dow Chemical Company, Syngenta Ag, Precision Laboratories, Xitebio Technologies.