Biofertilizers Market is Projected to Reach a Value of Over USD 4.4 Billion by 2027
The Global Biofertilizers Market is projected to reach a value of over USD 4.4 billion by 2027 at a CAGR of around 9.7%.
Biological active products containing certain strains of bacteria, algae or fungi, as a composite or single are known as biofertilizers. Biofertilizers add nutrients through natural processes of solubilizing phosphorous, fixing atmospheric nitrogen, and stimulating plant growth through the synthesis of growth-promoting substance. Natural products laying around the farms can be turned into biofertilizers which helps to make healthy and abundant crops. They can easily be obtained from organic materials such as soil, rice husks, vegetables, and bamboos which are even found in remote areas. Use of these fertilizers helps to eliminate harmful side effects of chemical fertilizers.
Biofertilizers Market: Driver & Challenges
Rising Demand for Organic Food
Rising awareness regarding the advantages of organic food and beverages has expected to fuel the demand for biofertilizers during the forecasted period. According to the United States Department of Agriculture (USDA), total organic sales in the U.S. was USD 7.5 million in 2016. This has been attributed to improvement in the standard of living, increasing income, and increases diseases prevalence. Moreover, the distribution of organic foods is increasing in supermarkets, discounters, drugstores, pharmacies, and the catering & foodservice sector. Large chained outlets are also sourcing organic products.
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Government Initiatives for Organic Agriculture
Rising demand for organic goods in both local and export markets has prompted governments to pursue a range of initiatives to increase organic agriculture through the number of organic support programs. For instance, in 2018 and 2019 the Denmark Government spent USD 161.3 million to support organic farming as they are one of the world’s largest consumers of organic products. Additionally, the Thailand government has launched a program to promote organic agriculture by encouraging a reduction in the amount of new rice planting and shift from commercial varieties to organic. Moreover, the Indian government has introduced Paramparagat Krishi Vikash Yojana in 2018 to promote organic farming.
Thus, rising government initiatives for promoting organic farming by various countries have anticipated boosting the growth of the biofertilizers market.
Require Special Care for Long-Term Storage
Biofertilizers should be used before their expiration date and should be taken care while storage because they are alive. If growers use the wrong strain or if the other microorganism contaminates the carrier medium they are not much effective. The soil must contain adequate nutrients for biofertilizer organisms to thrive and work. Biofertilizers complement other fertilizers, but they cannot totally replace them. Biofertilizers lose their effectiveness if the soil is too hot or dry. Excessively acidic or alkaline soils also hamper the growth of beneficial microorganisms. Moreover, they are less effective if the soil contains an excess of their natural microbiological enemies. Shortages of particular strains of microorganisms or of the best growing medium reduce the availability of some biofertilizers.
Biofertilizers Market: Key Segments
- On basis of type: Nitrogen Biofertilizers, Phosphorus Biofertilizers, Compost Biofertilizers, and Others
- On basis of microorganism: Azotobacter, Rhizobium, Blue-green Algae, Azospirillum, Mycorrhiza, Phosphate Solubilizing Bacteria, and Others
- Based on crop type: Fruits & Vegetables, Nuts & Seeds, Cereals & Grains, and Others
- Based on application: Soil Treatment, Root Dipping and Seed Treatment
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America with individual country-level analysis.
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Biofertilizers Market: Report Scope
The report on the biofertilizers market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Biofertilizers Market include:
- Novozymes (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- LALLEMAND Inc.
- Kiwa Bio-Tech Products Group Corporation
- Rizobacter Argentina SA
- BioAg Pty Ltd
- ASB Grünland Helmut Aurenz GmbH
- Ficosterra, SL
- Kan biosys
- GSFC Ltd
- Som Phytopharma India Ltd
- STANES & COMPANY LIMITED
- Other Key Companies
Biofertilizers Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Biofertilizers Market, by Product Type
- Nitrogen Biofertilizers
- Phosphorus Biofertilizers
- Compost Biofertilizers
Biofertilizers Market, by Microorganism
- Blue-green Algae
- Phosphate Solubilizing Bacteria
Biofertilizers Market, by Crop Type
- Fruits & Vegetables
- Oilseeds & Pulses
- Cereals & Grains
Biofertilizers Market, by Application
- Soil Treatment
- Seed Treatment
- Root Dipping
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Biofertilizers Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- GLOBAL BIOFERTILIZERS MARKET BY PRODUCT TYPE, Market Size in USD Million (2019–2027)
- GLOBAL BIOFERTILIZERS MARKET BY MICROORGANISM, Market Size in USD Million (2019–2027)
- GLOBAL BIOFERTILIZERS MARKET BY CROP TYPE, Market Size in USD Million (2019–2027)
- GLOBAL BIOFERTILIZERS MARKET BY APPLICATION, Market Size in USD Million (2019–2027)
- GLOBAL BIOFERTILIZERS MARKET BY REGION, Market Size in USD Million (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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