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Biofertilizers Market

The research report on Biofertilizers Market is segmented by Crop Type, by Form, by Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Biofertilizers Market Size, Share and Opportunity Analysis,
Biofertilizers are fertilizers which contain living microorganisms, and are used
as microbial or soil inoculants that aid crop plants to uptake nutrients when
applied through soil or seeds. Biofertilizers offer various advantages such as
high yield of crops, retaining fertility of soil, are eco-friendly, and cost effective.
Based on its nature and function, biofertilizers are classified into nitrogen fixing
biofertilizers, phosphate solubilizing biofertilizers, potash moving biofertilizers,
biofertilizers for micronutrients, and plant growth promoting rhizobacteria.
Biofertilizers aid in decomposition of organic residue and accelerate overall
plant development and growth. Increasing demand for high crop yield is
expected to drive growth of the biofertilizers market.
Market Dynamics
Rising demand for organic food products is expected to drive demand for
biofertilizers over the forecast period. Factors such as growing concerns for
health, increasing disposable income, and environmental awareness is expected
to drive demand for organic food. According to the International Federation of
Organic Agriculture Movements, in 2017 a total of 69.8 million hectares of land
was under organic crop cultivation, representing a 20% growth over 2016.
According to the same source, the global organic food market was valued at
US$ 97 billion in 2017, wherein the U.S. accounted for major market share,
followed by Germany, France, and China. Furthermore, increasing demand for
food, decline in total arable land, and increasing awareness about soil fertility is
expected to drive demand for biofertilizers market.
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Extensive & long term application of biofertilizers can result in accumulation of
heavy metals, salts, and nutrients which can have adverse effects on plant
growth & soil fertility. Also large volumes of biofertilizers are required for
application due to low contents of nutrients, which can make it costly compared
to chemical fertilizers. These factors are expected to restrict market growth of
the biofertilizers over the forecast period.
Key Market Players
Major players operating in the global biofertilizers market include Lallemand
Inc., Novozymes A/S, Agrinos AS, Symborg, Biomax Green Pte Ltd,
LABIOFAM S.A., National Fertilizers Ltd., AgriLife, Kiwa Bio-Tech, and
Mapleton Agri Biotec Pty Ltd. Companies operating in biofertilizers market are
focusing on partnership & collaborations in order to enhance their market share.
For instance, in 2017, Agrinos partnered with Krishi Rasyan Exports Pvt. Ltd.
(an agrochemical company based in India with strong presence in northern part
of India) for distribution of its products in India. This will help Agrinos to
expand its presence in northern India.
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