Global Biofertilizers Market was Valued at US$ 1.8 Bn in 2018, Increasing Awareness Regarding the Need for Sustainability in Modern Agriculture
“The Global Biofertilizers Market was valued around US$ 1.8 Bn by 2018 and growing at a significant CAGR of 10.1% over next seven years 2019-2025 due to increasing awareness about the need for sustainability in modern agriculture”
The global biofertilizers market accounted for US$ 1.8 Bn in 2018 and burgeoning over the forthcoming years. Some of the key factors influencing the market growth include hazards of using chemical fertilizers, increasing awareness about the need for sustainability in modern agriculture, rising trend of organic farming, need for improving soil organic matter, growing concern with respect to food safety and demand for food and cereals for the expanding global population. However, poor infrastructure & high initial investment and lack of awareness & low adoption rate of biofertilizers are hampering the market growth.
Global biofertilizers market segmented on the basis of type, crop type, microorganism, application, form and region.
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Azotobacter dominate the Global Biofertilizers Market
Based on microorganism, global biofertilizers market is segmented into azotobacter, rhizobium, azospirillum, phosphate-solubilizing bacteria, cyanobacteria and others (aulosira, nostoc azolla, anabaena, and tolypothrix). Azotobacter held considerable market growth during estimated period. Azotobacter is comprised of bacteria that require the presence of oxygen to grow and reproduce, and which are inhabitants of the soil. It has numerous metabolic capabilties, with atmospheric nitrogen fixation by conversion to ammonia. Their exclusive system of three distinct nitrogenase enzymes makes these bacteria of particular interest to scientists, who may work toward a improved understanding of nitrogen fixation and its role in agriculture. Azotobacter have the highest metabolic rate of any organisms.
North America Leads the Global Biofertilizers market
PBI’s global biofertilizers market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global biofertilizers market with considerable CAGR. The growth in this region is due to rise in organic and environment-friendly farming practices, bans on the usage of harmful chemicals & fertilizers in agriculture, increasing acceptance of organic foods among consumers, favorable regulatory scenario. Also, Asia Pacific held significant market share during estimated period owing to the presence of emerging countries like India and China having large population and immense landscape.
Strategic Agreements are the Key Strategies Adopted by Market Players
Global biofertilizers market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In 2016 February, Kiwa Biotech Products Group Corporation made an agreement with CCOOP Group Co. Ltd for manufacturing and marketing biofertilizers.
Key player’s profiles in the report are Madras Fertilizers Limited (India), Novozymes A/S (Denmark), National Fertilizers Limited (India), Novozymes A/S (Denmark), Nutramax Laboratories Inc. (U.S.), Rizobacter Argentina S.A. (Argentina), Camson Bio Technologies Limited (India), T. Stanes & Company Limited (India), Gujarat State Fertilizers & Chemicals Ltd. (India),Rashtriya Chemicals & Fertilizers Ltd. (India), and Lallemand Inc. (Canada).
Precision Business Insights (PBI) in its report titled “Global Biofertilizers Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Others (Sulphur-Solubilizing Biofertilizers Boron, And Zinc)
By Crop Type
o Pulses & oilseeds
o Cereals & grains
o Fruits & vegetables
o Others (Fiber Crops, Turf & Ornamentals Plantation Crops, Silage & Forage Crops)
o Phosphate-solubilizing bacteria
o Others (Aulosira, Nostoc Azolla, Anabaena, And Tolypothrix)
o Seed treatment
o Soil treatment
o Others (Set Treatment, Foliar Treatment, Root Dipping, And Seedling Root Treatment)
o Dispersible granule
o Pure & mixed liquid fermentations
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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