Bio-Fertilizers Market – Insight
The Global Biofertilizers Market has been witnessing high demand for the last few years and is projected to reach USD 2653.48 million by 2023 compared to USD 1183.34 million in 2017. Increasing awareness regarding sustainable agriculture followed by various government initiatives to promote the product is majorly driving the growth of the market. Moreover, the growing trend of inclination towards organic foods from the consumers is boosting the growth of the market. Growing demand from the emerging market will surge the biofertilizers market over the coming years.
Biofertilizers are living microorganisms which provide nutrients to the crops through nitrogen fixation and phosphorous solubilization processes. They also assist in maintaining the quality of the soil and promoting sustainable agriculture. The various types of biofertilizers include, nitrogen fixing biofertilizers, phosphate solubilizing biofertilizer, plant growth promoting Rhizobacteria, and biofertilizers for micronutrients. They are cost effective and are a renewable source of plant nutrients. Concerns for sustainable agricultural land has increased with the use of chemical fertilizers, which has created immense scope for biofertilizers.
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The major key players in biofertilizers are:
- Rashtriya Chemicals & Fertilizers Ltd. (India)
- Monsanto BioAg (U.S.)
- Gujarat State Fertilizers & Chemicals Ltd. (India)
- Biomax Naturals (India), Agri Life (India)
- Mani Dharma Biotech Pvt. Ltd. (India)
- National Fertilizers Ltd. (India)
- Madras Fertilizers Limited (India)
- T Stanes & Company Limited (India)
- Camson Bio Technologies Limited (India)
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Biofertilizers Market, By Type
7 Global Biofertilizers Market, By Crop Type
TO BE CONTINUE……………………………………,
Global Bio-fertilizers Market – Regional Analysis
The global bio-fertilizers market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). European region accounts for the major market share followed by Asia Pacific for the bio-fertilizers. Ample availability of land for farming under organic cultivations as well as consumer willingness to pay for the organic foods is driving the growth of the market in the European region during the forecast period.
In Asia Pacific, due to strong government policies that contribute to the growth of bio-fertilizers as well as large agricultural land area, will drive the growth of this market in this region. However, in European region, significant growth is expected in Germany, France and Italy due to increasing health and environmental concerns, over the forecast period 2017-2023.
Global Bio-fertilizers Market – Segments
The global Bio-Fertilizers Market has been divided into type, crop, distribution channel, and region.
On the Basis of Type
On the Basis of Crop
- Cereals & Grains
- Pulses & Oilseeds
- Fruits & Vegetables
On the Basis of Distribution Channel
- Non-store based
On the Basis of Region
- North America
- Asia Pacific
This post was originally published on Trading Herald