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Biofertilizers Market by Type, Crop Type, Forecast,
2017-2024: Global Market Insights Inc.
A new report covers Biofertilizers Market outlook providing historical facts, current
status and future development trends information along with data on leading players
and regions. Strong demand outlook in the overall agrochemicals industry along with
rising adoption for bio based plant growth enhancers will drive the biofertilizers
market. Decrease in arable land availability due to excessive synthetic fertilizer
consumption will facilitate biofertilizers penetration.
Rising consumer preference for organic food and widespread health awareness
trends are key factors driving industry growth. Strong EU regulatory compliances to
curb toxic growth enhancers usage and introducing policies offering 30% subsidy to
farmers to promote sustainable farming will fuel demand.
R&D to improve plant productivity will facilitate the industry growth. Ease in product
registration, less capital-intensive production process, and shifting farming trends for
bio inputs are factors attracting manufacturers to invest in biofertilizers.
Nitrogen-fixing dominated the product segment and generated over USD 1 billion in
revenue for 2016. Enhancing soil fertility and increase in farm yield up to 15% are
key properties propelled the product demand.
Phosphate-solubilizing will witness significant growth over 12% up to 2024.
Increased product consumption for cereals & grains and pulse & oilseeds due to
their anti-fungal properties will drive the demand.
Large availability of synthetic fertilizers at competitive price coupled with lack of
awareness among farmers may restrain market expansion. Organic farming
education among farmers and low biofertilizers market price trend will be among the
key strategies to drive industry growth.
Cereals & grains accounted for more than 40% of the global biofertilizers market
share in 2016. Being a staple crop in the world along with rise in consumer
preference towards high nutrient grains will drive product penetration.
Fruits & vegetables will witness growth over 12% through to 2024. The product is
used to improve the protein percentage and enhances the fruit plumpness. Shift in
consumer preference for organic fruits & vegetables will fuel business growth.
Seed treatment dominated the application segment and valued at over USD 1.2
billion in 2016. Protection from soil-borne diseases and improving seed germination
are the key properties enhancing demand.
U.S. Biofertilizers Market Size, By Product, 2016 & 2024 (Tons)
Soil treatment will witness over 11% CAGR up to 2024. Necessity to maintain salt
content and salinity level of soil will play a key role in stimulating product demand.
Dry formulation biofertilizers accounted for more than 70% of the overall industry
demand in 2016. Easy handling along with wide availability at competitive prices
have encouraged product penetration. Liquid formulations will witness fastest growth
over 12% up to 2024. Longer shelf life and easy storage are the key properties
North America biofertilizers market catered over 40% of the global demand in 2016.
Stringent regulations on chemical fertilizers usage along with increasing consumer
spending on organic food will drive the regional industry growth.
China biofertilizers market will witness over 12% CAGR up to 2024. Inclination
towards healthy lifestyle along with increase in farming expenditure will drive the
industry growth. Favorable regulations coupled with subsidies on bio based products
are the factors positively influencing demand.
Global industry share includes Novozymes, National Fertilizers, Rizobacter
Argentina, Camson Bio Technologies, Nutramax Laboratories, CBF China, AgriLife,
Biomax, Symborg Labiofam, Antibiotice and Mapleton Agribiotec.
Segmentation of Biofertilizers Market:
Biofertilizers market research report includes in-depth coverage of the industry with
estimates & forecast in terms of volume in tons, revenue in USD from 2013 to 2024,
for the following segments:
Biofertilizers Market, By Product
Biofertilizers Market, By Application
Biofertilizers Market, By Crop
Cereals & grains
Pulses & oilseeds
Fruits & vegetables
Biofertilizers Market, By Form
The above information has been provided for the following regions and countries:
• South Korea
Middle East and Africa
• Saudi Arabia
• South Africa
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