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Posted by Cassandra on October 15, 2024 at 1:48pm 0 Comments 0 Likes
Posted by George on October 15, 2024 at 1:47pm 0 Comments 0 Likes
The global Inoculants Market size is expected to reach USD 1469.6 Million by 2028 at a CAGR of 6.8%, according to a new report by Reports and Data. Inoculants, which is also known as microbial inoculants, aid in enhancing the nutritional status of host plant, along with reducing the requirement for fertilizer inputs. Containing several beneficial microbes such as fungi, bacteria, algae, and protozoa, inoculants are able to carry out growth in plants, along with suppressing diseases or pests. Being a blend of several microorganisms, inoculant aids in improving the soil’s health and fertility. The microbes present in the inoculants are immensely helpful for the plants’ development and stimulate other insects or organisms, which are responsible for the overall plant’s growth.
Growing environmental concerns about the fertilizer and pesticides use and the rising adoption of organic and sustainable farming practices are a few prominent factors propelling the sector’s growth. Among consumers worldwide, an enormous demand for natural or organically produced goods are observed, which further promotes the microbial inoculant’s use in several organic farming practices due to its more natural and much safer approach towards encouraging the soil as well as plant health. Additionally, the rising awareness regarding crop health, soaring demand for increased productivity, and the fast adoption of modern farming practices are further supporting the industry development.
The COVID-19 Impact:
During the outbreak of COVID-19, the agricultural inoculant industry has faced a downturn in many ways. The spread of the virus has derailed many areas such as the availability of raw material and disruption of supply chain. The lockdown borders are hampering the overall supply chain. This challenge in breaking the supply chain has hampered the purchasing of raw materials, supplying materials, as well as sales of inoculants.
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Further key findings in the report
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For the purpose of this report, Reports and Data has segmented the global inoculants market on the basis of product type, microbe, crop type, and region:
Type Outlook (Revenue, USD Million, 2018 - 2028)
Crop Type Outlook (Revenue, USD Million, 2018 - 2028)
Microbes Outlook (Revenue, USD Million, 2018 - 2028)
Regional Outlook (Revenue, USD Million, 2018 - 2028)
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Key questions answered by the report
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