Registered by Brazilian company Microquimica, Vorax (L-glutamic acid), a biostimulating product produced from a manufacturing process involving biological fermentation, is the first "bio organic fertilizer" developed in the country. the registration is not only a milestone for Microquimica but also for Brazilian agriculture and for the fertilizer sector, as it officially opens a new class of regulated products for use in the country, which helps plants express their productive potential and, additionally, to make agriculture more sustainable. The bio organic fertilizer, Vorax, is produced through the biological fermentation of sugarcane molasses to stimulate plant metabolism and reduce yield losses. Its dose is greatly reduced and its effects on plants are different from conventional fertilizers, which are based on the required amounts of nutrients. Microquimica revealed that the process took more than five years to complete, with cross-cropping and high investment research.
Microquimica is a Brazilian company that has been operating on the agricultural market in a significant way for 38 years, producing and selling foliar and seed treatment fertilizers, inoculants and agrochemicals. Microquimica revealed that it has invested close to R$1 million in research, analysis and structure throughout the registration process.
Market Data Forecast published a report named Bio Organic Fertilizer market is anticipated to grow at XX% CAGR from 2019 to 2024 and it is estimated that the global market was valued at USD XX billion in 2019 and is expected to reach USD XX billion by 2024.
Report is segmented by
- Nitrogen Fixing Bio-Fertilizers
- Phosphate Solubilizing Bio-Fertilizers
- Potash Mobilizing Bio-Fertilizers
- Fruits and Vegetables
Based on the type, Nitrogen-fixing bio-fertilizer is one of the prominent substitutes for commercial nitrogen fertilizers. The market scope for this bio-fertilizer is vast, as it is majorly used as nitrogen source for rice. Rice is an essential crop in many countries, namely India, China, Indonesia, and Brazil, Japan and others, thus enhancing the market for the nitrogen-fixing fertilizers. Under application, fruits and vegetables are the most produced crop as they are majorly consumed as meals. As food is the primary need of human being, production of fruits and vegetables is going to be most prominent, thus enhancing the scope for bio-fertilizers.
Based on geography, the market is segmented into various regions namely Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Asia Pacific accounted for the largest share of the market followed by North America. Asia Pacific is the expected to witness the highest growth in the coming years due to the presence of countries such as India and China have a large population, vast landscape, and booming economies.
Key market players in the market are -
- Gujarat State Fertilizers & Chemicals (GSFC)
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