Biofertilizers Market:
The GMI Research’s latest analysis reveals that the Biofertilizers Market is slated to register a significant CAGR over the forecast period. This is mainly attributed to the growing amount of organic farmland, growth in the population rate, and the rising awareness for biofertilizers among the farmers.
Biofertilizers Market’s leading Manufacturers:
- Novozymes
- Vegalab S.A.
- Kiwa Bio-Tech Products Group Corporation
- Hansen Holding A/S
- Stanes & Company Limited
- Rizobacter S.A.
- Lallemand Inc.
- IPL Biologicals
- Nutramax Laboratories, Inc.
- Kan Biosys
Biofertilizers Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global biofertilizers market is predicted to witness an upsurge in demand during the forecast period due to the growing amount of organic farmland and the rising awareness for biofertilizers among the farmers. Biofertilizers provide various benefits compared to fertilizers as they aid in maintaining the quality of soil while improving the plants’ growth. The awareness related to the benefits of biofertilizers is rapidly spreading among the farmers, which has increased the adoption. As per the biofertilizers market report, the growth in the rate of population is another factor fuelling the demand for food products. Biofertilizers enhance the productivity of the crops and boost the yield per hectare, which allows the supplier to fulfill the demand. This driver will accelerate the growth of the biofertilizers market size.
The outbreak of the COVID-19 has adversely influenced the supply chain of various businesses as everyone did not find it safe to buy any products. However, the market is projected to bounce back as the biofertilizer suppliers are taking important precautions regarding the coronavirus. On the other hand, the increasing awareness among individuals associated with their health has bolstered the growth of the biofertilizer market share in terms of revenue in this crisis. People have become more health-conscious and aware related to chemical-free food products. This factor has encouraged the farmers to utilize biofertilizers, thereby fuelling the growth of the global biofertilizers market.
Type Segment Drivers
Based on the type, the market is segmented into phosphate solubilizing & mobilizing biofertilizers, nitrogen-fixing biofertilizers, potash solubilizing & mobilizing biofertilizers, and others. The nitrogen-fixing biofertilizers are projected to rise at a higher CAGR during the forecast period. Nitrogen-fixing biofertilizers, with the aid of farm manure, boost the presence of microbes in the soil to improve the effectiveness of crops. They purify the tainted soil to maintain its organic nature, which aids in raising the crop yield. High phosphorus content in the soil is exceptional for the growth of plants, but nitrogen is required in a fixed amount, which is served by nitrogen-fixing biofertilizers. All these factors are projected to augment the growth of the market.
Biofertilizers Market Segmentation:
Segmentation by Type:
- Nitrogen-fixing biofertilizers
- Phosphate solubilizing & mobilizing biofertilizers
- Potassium solubilizing & mobilizing biofertilizers
- Others
Segmentation by Form:
- Liquid
- Carrier-based Biofertilizer
Segmentation by Mode of Application:
- Soil Treatment
- Seed Treatment
- Others
Segmentation by Crop Type:
- Cereals & grains
- Pulses & Oilseeds
- Fruits & vegetables
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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