Biofertilizers Market Overview
The global biofertilizers market isexpected to reach a valuation of USD 4.51 billion by 2030, exhibiting a strong
CAGR of 12.24 % over the forecast period from 2017 to 2030, according to the
latest research report from Market Research Future (MRFR). The global
biofertilizers market is profiled in great detail in the research report,
providing readers with a comprehensive overview of the market through its
historical growth trajectory, present conditions, and future growth prospects.
The historical stats of the biofertilizers market are detailed in the report,
in order to provide readers with a complete overview of the market’s historical
growth trajectory. The historical stats provided in the report also give
analysts a solid platform to base future projections about the market. Based on
this platform, future projections for the biofertilizers market’s growth
trajectory over the forecast period are provided in the report. The leading
players in the global biofertilizers market are also profiled in the report in
order to give readers a comprehensive analysis of the leading players in the
global biofertilizers market. The major drivers and restraints affecting the
global biofertilizers market are also profiled in the report to provide readers
a comprehensive overview of what’s making the market tick and what is holding
the market back.
Biofertilizers are fertilizers derived frombiological sources. These fertilizers are free from synthetic chemicals, making
them more environmentally viable than conventional fertilizers. Biofertilizers
contain living microorganisms that help produce the nutrients in the soil and
deliver them to the plants. This makes them highly valued by farmers in today’s
environment-conscious times, as biofertilizers eliminate the risk of deadly
runoff into water bodies. The risk of fertilizers running off into water bodies
and causing ecological disasters is reduced by the introduction of
biofertilizers, which is likely to remain a major driver for the global
biofertilizers market over the forecast period. The increasing demand for
organic food is also likely to be a major driver for the global biofertilizers
market. The demand for residue-free, uncontaminated food products is growing,
leading to a rising dependence on biofertilizers. The growing government
support to the use of biofertilizers is also likely to be a major driver for
the global biofertilizers market over the forecast period.
Competitive Leaderboard:
Leading players in the biofertilizersmarket include Mani Dharma Biotech Pvt. Ltd., Agri Life, Biomax Naturals,
Rashtriya Chemicals and Fertilizers Ltd., Camson Bio Technologies Ltd., T
Stanes & Company Ltd., Gujarat State Fertilizers & Chemicals Ltd.,
Monsanto BioAg, Madras Fertilizers Ltd., and National Fertilizers Ltd.
Many of these major players in the globalbiofertilizers market are based in India, leading to the country emerging as a
major regional market for biofertilizers. Major players are likely to focus on
product development in the coming years, especially coming up with product
solutions for various types of crops.
Segmentation:
The global biofertilizersmarket report is segmented on the basis of type, crop type, application,form, and region.
By type, the global biofertilizers marketoverview is segmented into nitrogen-fixing, phosphate-solubilizing, and others.
The nitrogen-fixing segment accounted for a dominant share of 73% in the global
biofertilizers market in 2017 and is likely to remain the dominant market
component in the coming years. The phosphate-solubilizing segment is also
likely to grow at a robust growth rate, exhibiting a strong 14.58% CAGR over
the forecast period.
By crop type, the global biofertilizersmarket is segmented into cereals and grains, pulses and oilseeds, fruits and
vegetables, and others. The cereals and grains segment dominates the global
biofertilizers market. The fruits and vegetables segment is expected to be a
key part of the global biofertilizers market over the forecast period, with the
segment expected to exhibit a strong 15.58% CAGR over the forecast period.
By application, the global biofertilizersmarket are segmented into seed application and soil application. The seed
application segment dominates the global biofertilizers market and is likely to
be the fastest-growing segment over the forecast period.
By form, the global biofertilizersmarket trends are segmented into dry and liquid. The dry segment accountsfor the largest share in the global biofertilizers market.
Regional Analysis:
North America dominates the globalbiofertilizers market share, with a share of 31.74% in 2017. The widespread
awareness about biofertilizers in North America and the growing demand for
organic food in the region are likely to be major drivers for the
biofertilizers market size in North America over the forecast period.
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