The global microbial agricultural inoculants market size was valued at USD 4855.27 million in 2024 and reach USD 8367.34 million by 2029, during the forecast period from 2024 to 2029.
Inoculants are added to the soil for better growth of the plant and to increase agricultural productivity. They are beneficial for plant nutrition and its growth. It also helps in the aggregation and stabilization of soil.
The rising demand for organic fertilizers is driving the microbial inoculants market. Organic farming helps improve soil quality and controls diseases and pests that are likely to affect plant growth. The rise in the cost of agrochemicals and its negative effect on crops is further driving the market. However, there is a lack of awareness regarding the benefits of microbial inoculants, which is restraining the market growth during the forecast period.
Plant growth-promoting microorganisms are leading the market as they help enrich the soil and provide immunity to the plants.
Bacterial inoculants hold the dominant share in the market.
The Microbial Inoculation market was dominated by North America. Asia Pacific is expected to grow at a significant CAGR, while Latin America is expected to show the fastest growth.
The global microbial inoculation market is concentrated with well-established players. Key players in the market include BASF S.E, E. I. Dupont De Nemours Company, Bayer Crop Science, Novozymes A/S, Verdesian Life Sciences LLC, Advanced Biological Marketing Inc, Brettyoung, Precison Laboratories LLC, Queensland Agricultural Seeds Pty Limited and Xitebio Technologies Incorporated.
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