Biofertilizers Market Gaining Demand in Emerging Economies and Future Growth

Posted by sunny on May 2nd, 2019

Bio fertilizer is a substance that consists of living microorganisms, which help in the growth of plant by increasing the supply of nutrients to it. Increase in the use of bio-fertilizers is expected to reduce the demand for chemical fertilizers and pesticides as they hamper the health of the soil. The aim of this report is to provide an insight on the global biofertilizers market current and projected trends and to carry out an in depth analysis of market potentials available. The report analyzes opportunities in the developed and emerging economies so that companies can make strategic decisions and gain competitive edge.

There are certain factors, which act as drivers for biofertilizers market such as rising environmental responsiveness enhancing soil fertility and increasing demand for organic food. Factors restraining the growth of bio fertilizers market are lack of awareness and lower adoption rate by farmers. The unmet demand for fertilizers, formulation of favorable government policies and countries having agriculture dominant economy would provide growth opportunities for this market.

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Biofertilizers Market Analysis by Types

Based on types, the global market for biofertilizers is segmented into nitrogen fixing, phosphate fixing, potash mobilizing and others. Nitrogen fixing bio fertilizer is one of the prominent substitutes for commercial nitrogen fertilizers. The market scope for this bio-fertilizer is vast, as it is majorly used as nitrogen source for rice. Rice is a prominent crop in many countries, namely India, China, Indonesia, Brazil, Japan and others, thus enhancing the market for the nitrogen fixing fertilizers.

Biofertilizers Market Analysis by Application

Based on application, biofertilizers market is segmented into fruits and vegetables, cereals, pulses and oilseeds, plantations and others. Among these, fruits and vegetables are the most produced crop as they are majorly consumed as meals. As food is the primary need of human being, production of fruits and vegetables is going to be most prominent, thus enhancing the scope for bio fertilizers.

Biofertilizers Market Analysis by Geography

Based on geography, the global bio fertilizers market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. Among these segments, Asia Pacific is the fastest growing market for biofertilizers, which comprises of countries such as India and China having large population, vast landscape and booming economies.  

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Competitive Analysis

The global bio fertilizers market is very competitive due to the presence of some dominant manufacturers. Some of the key players in this market are Agri Life, Ajay Bio-Tech (India) Ltd, Antibiotice S.A., Biomax and others. Ajay Bio-Tech (India) Ltd is concentrating its resources on Western markets along with the Asian markets, as it believes that demand for biofertilizers in western countries will rise due the additional emphasis laid on organic food and eco friendly agriculture practices.derstand the future prospects of the market