Market Overview:
The global Biofertilizers Market is likely to witness a huge growth potential due to the soaring demand for organic foods. According to a report by Fortune Business Insights, titled “Biofertilizers Market Size, Share and Global Trend By Type (Nitrogen Fixing, Phosphate Solubilizers, Potash Mobilizing, Compost Biofertilizers), Microorganism (Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM), Application (Soil Treatment, Spray Application, Seed Treatment), Crop Type (Cereals, Pulses and Oilseeds, Fruits and Vegetables) and Geography Forecast till 2026,” the market is likely to gain traction due to growing adoption of organic farming practices around the world.
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Some of the key players in the global biofertilizers market:
Organic farming practices are being adopted at an increasing pace on a global scale. Increasing awareness of environmental conservation and the effects of chemical pesticides have created a huge demand for biofertilizers. The advantages of biofertilizers market such as lesser pollution and longevity of crop life have led to a rising uptake. According to the US Department of Agriculture, in 2016, organic commodity sales increased by around 23% from the previous year.
The surge in uptake of biofertilizers in farming has resulted from an inclination towards using the agricultural biological method in manufacturing. Furthermore, increasing soil and water pollution and excessive use of chemical fertilizers has added to the demand for biofertilizers. Fortune Business Insights has predicted that the demand for biofertilizers will increase rapidly, which in turn will favor the growth of the global biofertilizers market in the coming years.
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Key Segmentation of Biofertilizers Market:
By Type
By Microorganism
By Application
By Crop
By Geography
Romanian Company Introduces Effervescent Biofertilizers
The global biofertilizers market has accumulated growth from several renowned companies that are operating in the market. Companies are focusing more on research and development of new products to gain a competitive edge over their counterparts. In 2018, the Romania-based Norofert Organics launched a new effervescent biofertilizer in the market.
The effervescent biofertilizers are delivered to crops in the form of tablets and the company claims that these tablets can serve various crop input purposes such as pesticides and disease-related fertilizers. The report includes innovations, similar to the aforementioned Fortune Business Insights has predicted that such product innovations have been a boon to the global biofertilizers market and will create a huge demand for biofertilizers globally.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Biofertilizers Market Increase CAGR at 11.3% | Opportunities, Development and Global Trend Analysis till 2026