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A new market study, titled “Discover Global Biofertilizers Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Biofertilizers are chemical formulations consisting of living microorganisms which extend the availability of nutrients by improving the quality of soils, thus developing organic and sustainable agricultural practices. The global demand for biofertilizers end-product is increasing in an attempt to substitute environmentally harmful conventional fertilizers and increase agricultural productivity. The various legislations monitoring sale and development of biofertilizer end-products include the Plants and Fertilizer Act, 2010 (Act 803) in Ghana, EU Regulation (EC) No 1107/2009, National Mission of Sustainable Development (NMSA) in India, and the Chinese Agricultural Standard NYT 1113-2006 among others.
The global biofertilizers market was worth $XX billion in 2017 and is forecasted to reach $XX billion by 2025, growing at a CAGR of 13.26% during the forecast period (2018-2025).
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Global Biofertilizers Market – Market Dynamics
The increasing consumer awareness concerning health hazards posed by chemical fertilizers, the rise in demand for genetically modified crops and organic food, and implementation of stringent regulations by federal authorities to promote bio-based agricultural inputs. For instance, in June 2018, the EU proposed to modernize and simplify the Common Agricultural Policy (CAP) for the next long-term EU budget 2021-2027, leading the sustainable development of EU agriculture and reflecting the EU’s ambition on environmental care and climate action. The use of biofertilizers supports eco-friendly farming practices, as opposed to the environmental damage done by chemical components in fertilizers and pesticides, driving demand of the biofertilizers market.
The lower adoption rate of biofertilizers by farmers, lack of suitable production facilities and sufficient funding, and short shelf-life of end products are the factors negatively impacting the growth of biofertilizers market. The low adoption rates of end-products by farmers pose the most significant challenge, with the seasonal demand of biofertilizers further deterring market growth.
The increase in the adoption rate of biofertilizers in dominant agriculture countries through persistent government support presents new opportunities for growth to manufacturers operating in the region.
Global Biofertilizers Market – Segment Analysis
Based on product type, the global biofertilizers market is segmented into nitrogen-fixing, phosphate-solubilizing, potash-mobilizing and others biofertilizers. The nitrogen-fixing segment is the largest by market share, owing to its application in increasing soil nutrient quantity and thus increase crop productivity. Phosphate-solubilizing biofertilizers are expected to be the fastest growing segment owing to its essential features of converting the insoluble form of phosphate into soluble liquid form. The potash-mobilizing biofertilizers will also witness stable growth rate as innovative technological improvement is expected to lower costs during the forecast period.
The global biofertilizers market is segmented by application into seed treatment, soil treatment, and others including set treatment, seedling treatment, and drip system. The seed treatment segment is expected to grow at a higher rate owing to its high efficiency in adding nutritional value to the crops for higher yield. The soil treatment application improves soil fertility and reduces salinity level in the soil.
By crop type, the global biofertilizers market is categorized into cereals & grains, pulses & oilseeds, fruits & vegetables, and others including plantations and ornamental plants. The cereals & grains is the leading market segment, requiring biofertilizers for proper growth owing to demand from a growing global population and decreasing agrarian lands.
Global Biofertilizers Market – Geographical Analysis
Geographically, the biofertilizers market is segmented into Asia-Pacific, Europe, North America, South America, and Rest of the World (RoW).
North America and Europe are the leading geographical segments, owing to the presence of developed economic countries and progress of biotechnological production techniques achieved by countries such as the USA, Germany, Russia, and the UK.
Asia-Pacific is expected to be the fastest growing region owing to a shift in trend towards healthy lifestyle along with increasing environmental awareness, which will drive the demand for organic food and eco-friendly agricultural practices. China and India will be the key contributors to this growth, with government initiatives such as the National Mission of Sustainable Development (NMSA) in India supporting the usage of bio-based fertilizers. For instance, the government of India updated its National Mission of Sustainable Development (NMSA) in February 2017, with added focus on establishment of state-of-the-art biofertilizers production units and quality control laboratories.
Global Biofertilizers Market – Competitive Analysis
The global biofertilizers market is fragmented with the presence of multiple global and local manufacturers and suppliers launching products at competitive prices.
The major market players are focused on product launch and product development as part of their commitment to introduce innovative biofertilizer solutions to commercial markets. For instance, in 2017, Novozymes A/S and Monsanto company introduced their newest product the corn inoculant Acceleron® B-300 SAT through The BioAg Alliance for sale in the United States.
The market players of global biofertilizers include –
Scope of the Report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. Biofertilizers Market is segmented based on type as nitrogen-fixing, phosphate-solubilizing, potash-mobilizing and others. Based on the application the market is segmented into seed treatment, soil treatment, and others. Based on crop type, the market is categorized into cereals & grains, pulses & oilseeds, fruits & vegetables, and others. Geographically, the market is segmented into – North America, South America, Europe, Asia Pacific and Rest of the World.
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Table of Contents
Chapter 1. Methodology and Scope
1.1 Research methodology
1.2 Scope of the Report
Chapter 2. Global Biofertilizers Market– Trends
2.1 Key Trends & Developments
Chapter 3. Global Biofertilizers Market – Industry Analysis
3.1 Industry Impact Factors (Drivers & Restraints)
3.2 Competitive Intensity- Porter 5 Forces
Chapter 4. Global Biofertilizers Market- Product Analysis
4.1. By Type
4.2. By Application
4.2.1. Seed Treatment
4.2.2. Soil Treatment
4.2.3. Others (Set Treatment, Seedling Treatment, Drip System )
4.3. By Crop
4.3.1. Cereals & Grains
4.3.2. Pulses & Oil Seeds
4.3.3. Fruits & Vegetables
4.4. By Geography
4.4.1. North America
4.4.2. South America
18.104.22.168. The United Kingdom
4.4.4. Asia Pacific
Chapter 6. Global Biofertilizers Market- Company Profiles
6.1. Agri Life SOM Phytopharma (India) Limited
6.2. Bodisen Biotech Inc.
6.3. Biomax Naturals
6.4. CBF China Bio-Fertilizer AG
6.5. Kimitec Group
6.6. Lallemand Inc.
6.7. Mapleton Agri Biotech Private Ltd
6.8. Novozymes A/S
6.9. Rizobacter Argentina S.A.
6.10. Symborg SL
Chapter 7 Global Biofertilizers Market- Appendix
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