QYR Market Research Global Agricultural Inoculants market research | Page 4

QYResearch
North America and South America are the major sales markets, with global
market share of 37.81% % and 30.51% in 2017 Respectively. Brazil and
Argentina constituted the largest country markets in the Latin American
region in 2014. The increase in demand of organically grown food products
by the population is fueling the market for agricultural inoculants in this
region. Brazil and Argentina are the major contributors in the production
of soybean. Agricultural inoculants are widely used for the soybean crops
and hence the consumption of inoculants is expected to increase in the
next five years. Latin America is one of the largest regions having organic
agricultural land area which makes the demand for agricultural inoculants
high in this region. North America accounted for the largest market share,
due to the high rate of adoption of new technologies to increase the
efficiency of crop production and minimize the cost of operations.
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