The Global Biofertilizers Market is projected to reach a value of over USD 4.4 billion by 2027 at a CAGR of around 9.7%.
Biological active products containing certain strains of bacteria, algae or fungi, as a composite or single are known as biofertilizers. Biofertilizers add nutrients through natural processes of solubilizing phosphorous, fixing atmospheric nitrogen, and stimulating plant growth through the synthesis of growth-promoting substance. Natural products laying around the farms can be turned into biofertilizers which helps to make healthy and abundant crops. They can easily be obtained from organic materials such as soil, rice husks, vegetables, and bamboos which are even found in remote areas. Use of these fertilizers helps to eliminate harmful side effects of chemical fertilizers.
Market Driver:
Rising awareness regarding the advantages of organic food and beverages has expected to fuel the demand for biofertilizers during the forecasted period. According to the United States Department of Agriculture (USDA), total organic sales in the U.S. was USD 7.5 million in 2016. This has been attributed to improvement in the standard of living, increasing income, and increases diseases prevalence. Moreover, the distribution of organic foods is increasing in supermarkets, discounters, drugstores, pharmacies, and the catering & foodservice sector. Large chained outlets are also sourcing organic products.
Rising demand for organic goods in both local and export markets has prompted governments to pursue a range of initiatives to increase organic agriculture through the number of organic support programs. For instance, in 2018 and 2019 the Denmark Government spent USD 161.3 million to support organic farming as they are one of the world’s largest consumers of organic products. Additionally, the Thailand government has launched a program to promote organic agriculture by encouraging a reduction in the amount of new rice planting and shift from commercial varieties to organic. Moreover, the Indian government has introduced Paramparagat Krishi Vikash Yojana in 2018 to promote organic farming.
Thus, rising government initiatives for promoting organic farming by various countries have anticipated boosting the growth of the biofertilizers market.
Market Restraint:
Biofertilizers should be used before their expiration date and should be taken care while storage because they are alive. If growers use the wrong strain or if the other microorganism contaminates the carrier medium they are not much effective. The soil must contain adequate nutrients for biofertilizer organisms to thrive and work. Biofertilizers complement other fertilizers, but they cannot totally replace them. Biofertilizers lose their effectiveness if the soil is too hot or dry. Excessively acidic or alkaline soils also hamper the growth of beneficial microorganisms. Moreover, they are less effective if the soil contains an excess of their natural microbiological enemies. Shortages of particular strains of microorganisms or of the best growing medium reduce the availability of some biofertilizers.
The report on the biofertilizers market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Product Type, Microorganism, Crop Type, Application, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Biofertilizers Market, by Product Type
Biofertilizers Market, by Microorganism
Biofertilizers Market, by Crop Type
Biofertilizers Market, by Application
Biofertilizers Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Biofertilizers MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
