A new report published by Markets and Markets projects the agricultural inoculants market to reach $398.56 million by 2019 with a compound annual growth rate (CAGR) of 9.5 percent from 2014.
“Agricultural Inoculants Market by Type, Source, Mode of Application, Crop Type, and Geography – Global Trends & Forecasts to 2019,” projects that Latin America will emerge as the fastest growing region with a CAGR of approximately 10 percent from 2014 to 2019.
According to the authors, “agricultural inoculants are gaining popularity because of their multi-functional benefits to plants in sustainable agriculture.” Growth of the agricultural inoculants market is primarily triggered by factors such as rise in cost and demand for chemical/mineral fertilizers and pesticides and increasing awareness about the organic farming practices.
“Even though there are number of products available in the market, the inoculants market is under-explored,” report the authors. “Lack of awareness among the farmers and prevailing problems within marketing and distribution are restricting the availability of inoculants at the farm level.”
The report is available for purchase by Markets and Markets.
