The Global Biofertilizers Market Outlook Report is a comprehensive study of the Biofertilizers industry and its future prospects.. The Biofertilizers market accounted for $XX million in 2018, and is expected to reach $XX million by 2024, registering a CAGR of YY% from 2019 to 2024.
Biofertilizers market size will grow from USD 1216.49 Million in 2017 to USD 2619.96 Million by 2023, at an estimated CAGR of 13.64%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The demand for biofertilizers is completely dependent on the growth of the fertilizer industry. Furthermore, the shrinking arable land, adoption of new technology, and the increasing willingness of farmers to spend more for higher productivity are some important factors that contribute to the increasing demand for biofertilizers. The shortage in the supply of agricultural products in the last five years has resulted in an increase in their prices, and subsequently led to the increase in agricultural production. As a result, the demand for fertilizers has increased, which is expected to drive the demand for biofertilizers.The biofertilizers market is driven primarily by the growth in the organic food industry and increase in awareness regarding the health hazards caused by the use of chemical fertilizers. Moreover, government agencies are promoting the use of biofertilizers, which has also driven the market growth, globally.
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List of key players profiled in the Biofertilizers market research report:
Novozymes A/S , National Fertilizers Limited , Madras Fertilizers Limited , Gujarat State Fertilizers & Chemicals Ltd. , Rizobacter Argentina S.A. , T.Stanes & Company Limited , Camson Bio Technologies Limited , Rashtriya Chemicals & Fertilizers Ltd. , Lallemand Inc. , Nutramax Laboratories, Inc., , , , , , , , , ,
Nitrogen-Fixing , Phosphate-Solubilizing , Potash-Mobilizing , Others,
By Crop Type
Cereals & Grains , Pulses & Oilseeds , Fruits & Vegetables , Others,
Azotobacter , Azospirillium , Rhizobium , Phosphate-Solubilizing Bacteria , Cyanobacteria
By Mode of Application
Seed Treatment , Soil Treatment , Others, ,
Pure & Mixed Liquid Fermentations , Dispersible Granules , Pellets , Powders,
, , , ,
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The global Biofertilizers market is segmented based on product, end user, and region.
Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, Italy, Spain, France, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and, rest of Asia-Pacific) and EMEA (Brazil, South Africa, Saudi Arabia, UAE, rest of EMEA).
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Moreover, other factors that contribute toward the growth of the Biofertilizers market include favorable government initiatives related to the use of Biofertilizers. On the contrary, high growth potential in emerging economies is expected to create lucrative opportunities for the market during the forecast period.
Key Benefits for Stakeholders from Biofertilizers Market Report:
This report entails a detailed quantitative analysis along with the current global Biofertilizers market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
The Biofertilizers market size and estimations are based on a comprehensive analysis of key developments in the industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the Biofertilizers industry.
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