The global biofertilizers market accounted for a value of USD 1.8 billion in 2019. and is projected to register growth at a CAGR of 9.5% during forecast period.
COVID-19 has impacted the biofertilizers market but the impact is not significant. The manufacturing plants are operating and there is no significant impact on supply chain of biofertilizers. Many manufacturing are operating across the world and the service providers are providing biofertilizers products. All these manufacturing units and service providers ensure maximum safety and sanitation during COVID-19.
For more details, visit: Global Biofertilizers Market By Type (Nitrogen Fixing, Phosphate Solubilizing & Mobilizing, Others), By Application (Soil Treatment, Seed Treatment, Others), By Form, By Crop Type, By Region, Forecast & Opportunities to 2026
The awareness about food safety is increasing among consumers around the world. The concern regarding increasing residue level in food and environmental issues are also increasing throughout the world. People are demanding chemical free food products. This drives growth in biofertilizers market during forecast period.
On the basis of form, the biofertilizers market is segmented into liquid and carrier based biofertilizers. The liquid biofertiliers segment is estimated to hold highest market share during forecast period. The shelf life of liquid biofertilizers is higher and they have life expectancy of 2 to 3 years. Liquid biofertilizers are more convenient and they have high tolerance for adverse conditions. They have easy quality control protocols which make liquid biofertilizers highly preferred and drive growth in biofertilizers during forecast period.
On the basis of type, the biofertilizers market is segmented into nitrogen-fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers and potassium solubilizing & mobilizing biofertilizers. The nitrogen-fixing biofertilizers segment is estimated to hold highest growth in biofertilizers market during forecast period. Biofertilizers affect crops directly so application of nitrogen fixing biofertilizers improves microorganisms which are beneficial for soil. They improve root growth and germination by secreting plant hormones. It is also used for non-leguminous and leguminous crops. This drives growth in nitrogen fixing biofertilizers market during forecast period.
On the basis of type, the biofertilizers market is segmented into soil treatment, seed treatment and others. The soil treatment segment is estimated to register higher growth during forecast period. Soil treatment methods help in increasing crop yield and it increases availability of nutrients in the soil. It helps in getting better outcomes and it improves yield without affecting the soil adversely. Soil treatment mode of application does not affect environment. This drives growth in soil treatment segment during forecast period.
North America region is estimated to register highest growth during forecast period. This region has ban use of harmful fertilizers and chemicals in agriculture sector. The use of chemical and fertilizers affect ecology adversely. This has increased demand and adoption of biofertilizers in this region. People are shifting towards organic food as they are adopting healthy lifestyle. The organic agriculture is also increasing in this region to fulfill the demand for organic food which increases market for biofertilizers. This drives growth in biofertilizers market during forecast period.
The key market players in biofertilizers market are Novozymes A/S, National Fertilizers Ltd., Madras Fertilizers Ltd., Gujrat State Fertilizers & Chemicals Ltd., Rashtriya Chemicals & Fertilizers Ltd., Vegalab S.A., CHR. Hansen Holding A/S, Kiwa Bio-Tech, Rhizobacter Argentin S.A., Stanes & Company Ltd., International Panaacea Ltd., Lallemand Inc., Nutramax Laboratories Inc., Kan Biosys, Symborg, Mapleton Agri Biotech PT Ltd., Somphytopharma India Ltd., Biomax Naturals, Manidharma Biotech Pvt. Ltd. and Seipasa.
- What are the expected industry trends over the next three to five years?
- Which of the biofertilizers type is likely to lead by 2025?
- Which of the form segments is expected to have the maximum potential to during the forecast period?
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