Biofertilizers Market estimated to reach $2.27 billion by 2023

Biofertilizers Market

Biofertilizers Market Overview

Biofertilizers have living microorganisms that endorse plant growth by aggregating the availability of basic nutrients to the host plant. The use of favorable microbes as organic Biofertilizers have evolved as of great importance in the agricultural area for the ability they carry to deliver food safety and a supportable crop production method.

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Increasing health concerns about the usage of chemical fertilizers have driven the demand for Biofertilizers. As life style associated diseases are rising, demand for organic food is also gaining importance. This has fortified the farmers to make use of an organic fertilizer which is one of the key reasons for the rapid growth of bio fertilizer market. Though, certain Biofertilizers allegedly have sedative effects. Yet, the global Biofertilizers market has a great opportunity to expand across the developing economies.

Biofertilizers Market Forecast Report (2018-2023)

Global Biofertilizers Market was worth $1.20 billion in 2018 and estimated to be growing at a CAGR of 13.6%, to reach $2.27 billion by 2021.

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Biofertilizers Market Segmentation

Global market for Biofertilizers is segmented by type into Nitrogen Fixing, Phosphate Solubilizing and Potash Mobilizing. Based on crop type the market is segregated into Cereals & Grains, Pulses & Oilseeds and Fruits & Vegetables. Based on microorganism segmentation is among Azotobacter, Azospirillium, Rhizobium, Phosphate Solubilizing Bacteria and Cyanobacteria. By mode of application the market is bifurcated into Seed Treatment and Soil Treatment. By form the market is divided into Pure & Mixed Liquid Fermentations, Dispersible Granules and Pellets. Nitrogen-fixing bio-fertilizer is the leading segment of the market which is fuelled with the increasing acceptance and demand of these fertilizers and expected to expand enormously.

Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. Asia-Pacific is the leading consumer market of bio-fertilizer due to good awareness and government policies which are amongst the main growth drivers in this region. Asia-Pacific is also the most adaptable market for bio-fertilizer because of accessibility of raw material, low-priced labour force and large population of end- users.

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Major Players: 

The major companies dominating this market for its products and services are

  • Lallemand Inc. (Canada),
  • Camson Bio Technologies Limited (India),
  • Rizobacter Argentina S.A. (Argentina),
  • Novozymes A/S (Denmark),
  • Camson Bio Technologies Limited (India)
  • Nutramax Laboratories Inc. (U.S.),
  • Symborg S.L.,
  • Mapleton Agri Biotech Private Ltd and AgriLife.

Key Takeaways from this Report:
·         For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
·         Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
·         Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
·         Increase overall revenue by understanding the geographical impact on sales and distribution channels.
·         Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
·         Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
·         Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.

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