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Biofertilizers Market worth 2.31 Billion USD by 2022

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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Biofertilizers Market worth 2.31 Billion USD by 2022

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  1. MarketsandMarkets Presents Biofertilizers Market worth 2.31 Billion USD by 2022

  2. The report "Biofertilizers Market by Type (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), Microorganism (Rhizobium, Azotobacter, Azospirillium, Cyanobacteria, P-Solubilizer), Mode of Application, Crop Type, Form, and Region - Global Forecast to 2022", The biofertilizers market is projected to grow at a CAGR of 14.08% during the forecast period, to reach a projected value of USD 2.31 Billion by 2022. • Browse: • 87 market data Tables • 62 Figures • 178 Pages and in-depth TOC on "BiofertilizersMarket”. • You can speak to our analyst@ • https://www.marketsandmarkets.com/speaktoanalyst.asp?id=856

  3. Source: MarketsandMarkets Analysis

  4. The biofertilizers market is projected to grow at a CAGR of 14.08% during the forecast period, to reach a projected value of USD 2,305.5 Million by 2022. 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. North America accounted for the largest market share in the biofertilizers market in 2015, which was followed by Europe. Governments of countries in North America have imposed bans on harmful chemicals used as inputs in agriculture. This created significant market potential for biofertilizers in the region Expansions & investments, and agreements, collaborations & joint ventures were the key strategies adopted by industry players to achieve growth in the biofertilizers market. Acquisitions was another strategy adopted by companies to expand their share in the biofertilizers market. Novozymes A/S (Denmark), Gujarat State Fertilizers & Chemicals Ltd. (India), Rizobacter Argentina S.A. (Argentina), Camson Bio Technologies Limited (India), and Lallemand Inc. (Canada) are some leading manufacturing companies that adopted these strategies.

  5. Scope of the Report: • On the basis of Type, the market has been segmented as follows: • Nitrogen-fixing • Phosphate-solubilizing • Potash-mobilizing • Others (zinc-, boron-, and sulfur-solubilizing biofertilizers) • On the basis of Crop Type, the market has been segmented as follows: • Cereals & grains • Pulses & oilseeds • Fruits & vegetables • Others (turf & ornamentals, plantation crops, fiber crops, and silage & forage crops) • On the basis of Microorganism, the market has been segmented as follows: • Rhizobium • Azotobacter • Azospirillum • Cyanobacteria • Phosphate-solubilizing bacteria • Others (nostoc, anabaena, tolypothrix, aulosira, and azolla)

  6. On the basis of Mode of Application, the market has been segmented as follows: • Seed treatment • Soil treatment • Others (set treatment, foliar treatment, root dipping, and seedling root treatment) • On the basis of form, the market has been segmented as follows: • Pure & mixed liquid fermentations • Dispersible granule • Pellet • Powder • On the basis of Region, the market has been segmented as follows: • North America • Europe • Asia-Pacific • Latin America • RoW

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  8. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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