Overview:

The global biofertilizers market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Biofertilizers have living cells of microorganism that offers necessary nutrients to the plant and aid in plant growth. Biofertilizers are available in two category i.e. liquid based or carrier-based. These are added to either with the seeds or in soil or on the plant surface post plantation.

Market Dynamics:

Rising health and food safety concerns among individuals across the globe has led to increased demand for organically produced food products, which has led to increased demand for organic fertilizers. This is a key factor driving growth of the global biofertilizers market.

In addition, increasing investment from cooperative societies engaged in manufacturing and marketing of fertilizers towards development of nano-fertilizers is another factor expected to further fuel growth of the target market to a significant extent during the forecast period.

However, high cost of biofertilizers as compared to conventional fertilizers is a key factor hampering growth of the global biofertilizers market growth to a certain extent.

Key Trends:

Growing focus on product launches by key manufacturers is a key trend observed in the market. For instance, in January 2020, Symborg launched sustainable biofertilizer viz. BlueN. The product plays key role in agricultural productivity improvement by using atmospheric nitrogen fixing bacterium. Thus, such innovative product launches are expected to further fuel the target market growth.

Regional Analysis:

For detailed understanding of market dynamics, the global Biofertilizers market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is accounted for highest share in terms of revenue in 2018 and is expected to maintain its dominance over the forecast period. Preference shift towards organic fertilizers coupled with stringent government regulations towards use of chemically treated fertilizers are some of the key factors for the dominance of the region.

However, the target market in Europe is expected to witness significant growth during the forecast period in the global market. Also, Asia Pacific is expected to witness considerable growth in the near future. This is owing to rising awareness about health benefits of organic agricultural products among general population.

Scope of the Report:

Detailed Segmentation:

Global Biofertilizers Market, By Type:

• Nitrogen Fixing
• Phosphate Solubilizing
• Others

Global Biofertilizers Market, By Crop Type

• Cereals & grains
• Pulses & Oilseeds
• Fruits & vegetables
• Others

Global Biofertilizers Market, By Application

• Soil Treatment
• Seed Treatment
• Others

Key Players Covered:

Key players operating in the market includes, CBF China Bio-Fertilizer AG, Mapleton Agri Biotec, Novozymes A/S, AgriLife, National Fertilizers Ltd., Gujarat State Fertilizers & Chemicals Ltd., Rizobacter Argentina, Symborg S.L., Antibiotice S.A., and Lallemand Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Biofertilizers Market by type, crop type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global biofertilizers market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.