Global Bio Fertilizer Market was valued at USD 1.6 million in 2018 and is expected to reach at USD 4.20 million by 2026 at a CAGR of 12.82% over forecast period 2019-2026.
Global Bio Fertilizers Market
The green revolution has seen huge increases in agricultural productivity driven by chemical fertilizers but the cost has been high. Chemicals are increasing the soil pollution and reducing the soil fertility. As customer become aware they are demanding chemical free foods, various government across the world are banning the chemical fertilizers and promoting biofertilizers.
Biofertilizers are reducing the use of synthetic fertilizers and pesticides. Applications such as biofertilizers restore the soil's natural nutrient cycle, build soil organic matter and increase the soil fertility are driving the global biofertilizers market. Additionally, factors such as increasing organic farming across globe, need for improving soil organic matter, and favorable regulatory framework are propelling the market growth over forecast period.
However, low efficacy of biofertilizers under unfavorable conditions, high demand for synthetic fertilizers, and low shelf-life of microorganisms are expected to restrain the market.
Global Bio Fertilizer Market Segmentation Analysis
Global Bio Fertilizer Market is segmented by form, by application, by crop type and by Region. By application, the market is sub segmented into seed treatment, soil treatment, and others. Among all of these soil treatment segment holds largest market share which is 38% at a CAGR of xx% over forecast period. In this method bacteria, fungi, and other microorganisms, such as algae and protozoa, are mixed with organic fertilizers to enrich the soil micro biome. These microorganisms readily and safely convert complex organic material into simple compounds, so that they are easily taken up by the plants. Microorganism function is in long duration, causing improvement of the soil fertility. It maintains the natural habitat of the soil. These applications are driving the growth of seed treatment application segment over forecast period.
Global Bio Fertilizer Market Regional Analysis
By geography market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. Among all these regions North America is holding the largest market Share for bio fertilizers and accounted for around 29.5% of the global market share over forecast period. Due to the widespread use of chemical fertilizers, the fertility of the soil is declining. The farmers in this region are highly skilled in terms of knowledge and machinery. Thus, to maintain soil fertility as well as the yield of crops, farmers are opting for biofertilizers. Moreover, rise in organic farming system and increasing awareness about sustainable agriculture in United States and Canada are driving the market in North America.
North America is followed by Asia Pacific. APAC is emerging as the fastest growing market for biofertilizers accounted for 21% of global market share over the forecast period. The presence of countries such as China and India where the demand for organic products is increasing rapidly is expected to propel the growth of the bio fertilizer market of the region.
Global Bio Fertilizer Market Competitive landscape
The report covers key developments and company profiles of Potential Players, followers and new entrants. Various companies operating in this market are adopting organic and inorganic growth strategies such as patent, new product launches, product approvals, expansion, merger & acquisition, joint ventures, partnership and collaborations. Key companies in the biofertilizers market are Novozymes (Denmark), T Stanes & Company Ltd. (India), SOM Phytopharma (India) Ltd. (India), International Panaacea Limited (India), Kan Biosys (India), Kiwa Biotech (China). These players exhibit near about 70% market share of global market.
The objective of the report is to present a comprehensive analysis of Global Bio Fertilizer Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Bio Fertilizer Market dynamics, structure by analyzing the market segments and project the Global Bio Fertilizer Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Bio Fertilizer Market make the report investor’s guide.
Scope of Global Bio Fertilizer Market
Global Bio Fertilizer Market Segmentation by Form
• Carrier-based Biofertilizers
Global Bio Fertilizer Market Segmentation by Application
• Soil Treatment
• Seed Treatment
• Others (foliar treatment, root dipping, and seedling root treatment)
Global Bio Fertilizer Market Segmentation by Crop Type
• Cereals & grains
• Pulses & Oilseeds
• Fruits & vegetables
• Others (turf & ornamentals, plantation crops, fiber crops, and silage & forage crops)
Global Bio Fertilizer Market Segmentation by Type
• Nitrogen-fixing biofertilizers
• Phosphate solubilizing & mobilizing biofertilizers
• Potassium solubilizing & mobilizing biofertilizers
• Others (zinc, silica, and sulfur-solubilizing biofertilizers)
Global Bio Fertilizer Market Segmentation by Region
• North America
• Asia Pacific
• MEA& Africa
• Latin America
Global Bio Fertilizer Market Major Key Players
• Novozymes (Denmark)
• T Stanes & Company Ltd. (India)
• SOM Phytopharma (India) Ltd. (India)
• International Panaacea Limited (India)
• Kan Biosys (India)
• Kiwa Biotech (China)
• Symborg (Spain)
• Madras Fertilizers Limited (India)
• Gujarat State Fertilizers & Chemicals Ltd. (India)
• Lallemand Inc. (Canada)
• National Fertilizers Limited (India)
• Rizobacter Argentina S.A (Argentina)
• Rashtriya Chemicals & Fertilizers Ltd, (India)
• Mapleton Agribiotech (Australia).
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