Biofertilizers Market projected To Grow With Significant CAGR Over The Forecast Period
PR-Inside.com: 2018-05-17 14:23:57
An Introduction to Biofertilizers Market
Biofertilizers are basically agro chemicals major component of which is organic in nature. They contain microorganisms which when applied to the plant surfaces, soil or to the seed, promote growth. Biofertilizers act through the natural process of solubilizing phosphorous, fixing atmospheric nitrogen and stimulate plant growth by synthesizing the substances. Though there is a gradual reduction in the usage of chemical fertilizers as they can badly impact the environment and the biodiversity, but their complete eviction from agricultural process is yet to happen. Biofertilizers can be used in soil treatment, root dripping and seed treatment.
Biofertilizers Market – Drivers and Constraints
Factors like increasing demand for eco-friendly fertilizers, growing demand for the organic food globally, improved standard of living and a rising per-capita income will definitely support the growth of biofertilizers market globally. Also, growing concern for the environment and some of the initiatives taken by governments of various countries to support the manufacturers will add up to this growth. For example, European Union’s Common Agricultural Policy to promote a biobased product by offering approximately 30% of the total budget as direct green payment to the farmers who are adhering to sustainable production is one such initiative. On the other hand, the pre-existing demand for chemical fertilizers, lack of awareness among farmers regarding benefits of biofertilizers, a weak regulatory framework likely to act as constraints to the growth of biofetilizers market.
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Global Biofertilizers Market- Classification
Global biofertilizers market can be segmented on the basis of type, application, form, crop type, microorganism and geography.
On the basis of type, the biofertilizers market can be segmented into the following categories:-
• Others (Sulphur-solubilizing biofertilizers boron, and zinc)
On the basis of crop type, the biofertilizers market can be segmented into the following categories:-
• Pulses & oilseeds
• Cereals & grains
• Fruits & vegetables
• Others ( fiber crops, turf & ornamentals plantation crops, silage & forage crops)
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On the basis of microorganism, the briofertilizers market can be segmented into the following categories:-
• Phosphate-solubilizing bacteria
• Others (aulosira, nostoc Azolla, Anabaena, and tolypothrix)
On the basis of application, the biofertilizers market can be segmented into the following categories:-
• Seed treatment
• Soil treatment
• Others (set treatment, foliar treatment, root dipping, and seedling root treatment)
On the basis of the form, the biofertilizers market can be segmented into the following categories:-
• Dispersible granule
• Pure & mixed liquid fermentations
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Global Scenario – Biofertilizers Market
Geographically, biofertilizers market can be divided into five important regions. They are:-
• North America
• Middle East & Africa
• Latin America
North America will continue to hold the highest market share in the forecasted period. For the same period, Europe is likely to be the second largest market for biofertilizers. Advancement in biotechnology, demand for high yield crops, presence of developed regions and a regulatory mechanism which is most suitable for biofertilizers market are likely to drive growth in this region. However, Asia-Pacific region can’t be ignored as well. The organic food industry is growing, farm expenditure is increasing and governments of various countries in this region are taking initiatives to increase awareness about biofertilizers and their benefits.
Biofertilizers Market – Key Developments
• In February 2016, there was an agreement between Kiwa Biotech Products Group Corporation and CCOOP Group Co. Ltd for manufacturing and marketing biofertilizers.
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