Biofertilizers Market is projected to reach at a valuation of about USD 610.2 Mn

Posted by Satr Martin on May 1st, 2018

Global Bio-fertilizers Market Overview

Bio-fertilizers, consists of living micro-organisms which are environment friendly in nature, are used to supply additional nutrients to the soil by increasing the soil fertility to enhance the growth and quality of crops.

Health hazards caused by the chemical fertilizers are on a continuous rise and as a result a continuous decline in the use of chemical based fertilizers can be seen in recent years. As a result, organic farming across the globe is gaining its ground and is being preferred by majority of the population at present. In addition to that, rising health concerns by consuming chemical based fertilizers food and a shift towards non-hazardous grown food to pave the new ways for bio-fertilizers manufacturers and suppliers.

Market size and forecast

The global bio-fertilizers market is projected to expand at a CAGR of 13.6% over the forecast period i.e. 2016-2023. Further, the global market estimated to reach USD 1. 58 Billion by 2023 from USD 610.2 Million in 2015. The global market of biofertilizers is expected to uplift on the back of rising demand of organic food and growing awareness towards the benefit of bio-fertilizers among the farmers

North-America had accounted the largest revenue share of 31.3% in 2015 of overall biofertilizers market across the globe. Growing demand of organic food in U.S. and Canada is likely to upsurge the market of North-America in near future. Further, the bio-fertilizers market of North-America region is estimated to grow significantly at a CAGR of 15.6% over the forecast period i.e. 2016-2023 on account of growing preference towards organic food in order to maintain health and fitness and rising awareness towards harmful effects of chemical fertilizers on environment.

On the other hand, Asia-Pacific market of bio-fertilizers is the most resourceful and revenue generated market for biofertilizer manufacturing industries owing to availability of cheap labor force and low cost raw material in the region. The market of Asia-Pacific is mainly upsurge by the rising government initiatives in growing economies such as government of China and India introduced national initiative which aims at increasing bio-fertilizer production, utilization and distribution. Furthermore, the market is expected to register a CAGR of 11.2% over the forecast period i.e. 2016-2023.

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Apart from this, Europe market of bio-fertilizers is predicted to flourish at a CAGR of 13.2% over the forecast period i.e. 2016-2023 on the back of introduction of common agricultural policy in the European Union and increasing agriculture budget up to 30% in order to improve quality and productivity of crops.

Further, initiatives taken by government food security agencies to ban several harmful fertilizers and pesticides would exhibit the greater demand for organic fruits and vegetables. Several initiatives and promotions are carried out by various authorities in order to grow awareness towards eco-friendly biofertilizers is expected to exhibit a positive impact on the market of biofertilizers in near future.

Market Segmentation

Our in-depth analysis segmented the global bio-fertilizer market in the following segments:

By Product Outlook

Nitrogen-fixing

Phosphate-solubilizing

Potash-mobilizing

Others(zinc, boron or sulphur-solubilizing)

By Microorganisms

Azospirillum

Cyanobacteria

Phosphate-solubilizing bacteria

Azolla

Aulosira

Rhizobium

Azotobacter

Other(nostoc, anabaena, tolypothrix)

By Crop

Cereals and grains

Pulses and oil seeds

Fruits and vegetables

Fiber crops

Others(plantation crops, forage crops)

By Form

Pure and mixed liquid fermentations

Pellet

Powder

Dispersible Granule

By Application

Seed Treatment

Soil Treatment

Root Dipping

Others(set treatment, seedling root treatment & foliar treatment)

By Region

Global bio-fertilizer market is further classified on the basis of region as follows:

North America (United States /U.S. & Canada)

Latin America (Brazil, Mexico, Rest of Latin America)

Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe)

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia)

Middle East and North Africa (MENA)

Rest of World

Growth Drivers and challenges

Factors such as enhancing soil fertility, introduction of effective bio-fertilizers, rising awareness towards environmental concerns, cost-effective bio-fertilizers, government mandates and growing demand of organic food among the population are expected to uplift the market of bio-fertilizers over the forecast period.  The market is majorly driven on the back of factors such as growing need of food on account of rising population across the globe, rising concern towards good quality crops, increasing demand for the proper growth of cereals and grain, rising awareness among the farmers towards bio-fertilizers and growing adoption of bio-fertilizers by farm owners to attain enhanced quality.

Furthermore, presence of stringent regulation along with government initiatives sustaining bio-fertilizers use and environment friendly properties are expected to upsurge the demand for bio-fertilizers in near future. Rapid growth in food and agriculture sector owing to government funding and availability of effective and low cost bio-fertilizers is further likely to bolster the demand for bio-fertilizers in agriculture sector in order to increase economy by the nations.

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However, lack of awareness among farmers in developing economies, high cost of initial investment and poor performance of earlier bio-fertilizers are some of the factors likely to inhibit the growth of biofertilizers market in near future.

Key Players

The key vendors of bio-fertilizer market are as follows:

Agriculture Solutions Inc.

Company Overview

Key Product Offerings

Business Strategy

SWOT Analysis

Financials

AZOMURES

Bio Power Lanka

EuroChem Agro GmbH

Gujarat State Fertilizers and Chemicals Ltd.

International Panaacea Limited

Lallemand Inc.

National Fertilizers Limited

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global Bio-fertilizer Market is segmented as follows:

By Product type Market Size and Y-O-Y Growth Analysis

By Microorganisms type Market Size and Y-O-Y Growth Analysis

By Crop type Market Size and Y-O-Y Growth Analysis

By Form type Market Size and Y-O-Y Growth Analysis

By Application type Market Size and Y-O-Y Growth Analysis

By Regions

North America (United States/U.S., Canada) Market Size and Y-O-Y Growth Analysis

Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis

Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis

Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis

Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Rest of World  Market Size and Y-O-Y Growth Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

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