According to a new report published by KD Market Insights, titled, “Biofertlizer Market Insights, Trends, Opportunity & Forecast, 2021–2026,” the global biofertlizer market size is anticipated to witness significant growth during forecast period i.e. 2021-2026. The increasing adoption of precision farming and protected agriculture, the growing organic food industry and the rising environmental concerns are some of the prime factors driving the growth of the biofertilizer market.
Factors such as the increasing number of government implemented schemes for the promotion of bio-fertilizers through training, demonstration, and supply of efficient culture for production of bio-fertilizers and the rising awareness among farmers and planters regarding the use of biofertilizer is poised to create tremendous growth opportunities for the biofertilizer market in the upcoming years. Also, since bio-fertilizers are completely environment-friendly and more cost-effective as compared to chemical fertilizers, their demand is rising in both organic and traditional farming methods.
The North American market is anticipated to dominate the biofertilizer market during the forecast period and is also expected to be the fastest growing market. This can be attributed to the presence of stringent regulatory environment, the high adoption of advanced irrigation systems such as drip & sprinkler irrigation for fertigation, the rising demand for organic products and the proliferating acceptance of biofertilizers among rural farmers in the region.
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According to type, the nitrogen-fixing segment of the biofertilizer market is projected to have highest CAGR during the forecast period. According to application, the seed treatment segment is projected to have the highest CAGR during the forecast period.
The global biofertlizer market is segmented into form, type, micro-organism, application, crop and region. Based on form, the market is bifurcated into pure & mixed liquid fermentations, dispersible granule, pellet and powder. Based on type, the market is classified into nitrogen-fixing, phosphate-solubilizing, potash-mobilizing and others. Based on micro-organism, it is classified into azotobacter, rhizobium, azospirillum, cyanobacteria, phosphate solubilizing bacteria & fungi, rhizobacteria and others. Based on application, it is classified into soil treatment, seed treatment and others. Based on crop, it is classified into fruits & vegetables, pulses & oilseeds, cereals& grains, fiber crops and others.
The global biofertlizer market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa). The ever-increasing population, the burgeoning demand for food and the increased emphasis of the governments on the use of environmental-friendly fertilizers such as biofertilizers & organic manure to combat the harmful effects of chemical fertilizers in the Asia Pacific region is expected to contribute toward the growth of the market over the next few years.
Key Insights of Biofertlizer Market
- On the basis of type, the nitrogen-fixing segment is projected to have highest CAGR during the forecast period.
- On the basis of application, the seed treatment segment is projected to have the highest CAGR during the forecast period.
- On the basis of region, North America is anticipated to dominate the biofertilizers market during the forecast period and is also expected to be the fastest growing market.
Some of the major biofertlizer companies profiled in the report include Sigma AgriScience, Bayer Crop Science, Kiwa Bio-Tech Products Group Corporation, Bio Green USA Inc., Fertoz Ltd., Suståne Natural Fertilizer Inc., Sushila Bio-Fertilizer Company (SuBiCo) Pvt. Ltd, Gujarat State Fertilizers & Chemicals Ltd., Rizobacter Argentina S.A. and Lallemand Inc.
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