Global Biofertilizers Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Biofertilizers Market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX billion in 2020. Biofertilizers comprises living microbes, which when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients.
Accidents are becoming more common all over the world, which has led in an increase in the number of treatments needing long operating hours. As a result, the demand for blood loss management product for surgical procedures has increased dramatically. At the end of 2018, there were 71.5 million hectares under organic management, up 2.9 percent or 2 million hectares from the previous year. The greatest organic agriculture area is in Australia (35.7 million hectares), followed by Argentina (3.6 million hectares), and China (3.6 million hectares) (3.1 million hectares). Oceania accounts for half of the world’s organic agricultural land, thanks to Australia’s enormous amount of organic farming (36.0 million hectares). Europe is the second-largest continent (15.6 million hectares), followed by Latin America (14 million hectares) (8 million hectares). In comparison to 2017, the organic area on all continents rose.
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The COVID19 has resulted in a profound re-evaluation of the advantages and costs of biofertilizers. The pandemic has been a devastating disease worldwide. However, biofertilizers has witnessed a relatively stable market growth post-COVID-19 pandemic, with a similar trend of high demand in 2020 due to the increased demand for organic food. For instance, in France, organic food shops like Biocoop and Naturalia reported sales increases of over 30% since the COVID-19 crisis started. Biofertilizers can be developed easily, and therefore, are run by local manufacturers. As the produce can be manufactured by local businesses, the supply chain has been relatively unaffected by the crisis. As a result, in most nations, domestic producers are expected to dominate the market. For instance, as per Soyabean and Corn Advisor 2021, the soybean condition improved 2% whereas 60% rated good and excellent in the US region.
Based on product, the market is fragmented into nitrogen fixing biofertilizers, phosphorus biofertilizers, compost biofertilizers, and liquid biofertilizers. The nitrogen fixing biofertilizers segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period owing to the improvement of highly contaminated soil and water reserves due to use of synthetic fertilizers.
Based on microorganisms, the market is fragmented into rhizobium, azotobacter, azospirillum, cyanobacter, mycorrhiza, phosphate solubilizing bacteria, and other microorganisms. The cyanobacter segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period owing to the reduced input cost and increase the bioavailability of phosphorus.
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Based on crop, the market is fragmented fruits & vegetables, pulses & oilseed, and cereals & grains. The cereals & grains segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period as the cereal and grains cultivation provides high vegetation growth, and high photosynthesis activity. However, pulses and oil seeds are expected to experience fastest growth during the forecast period owing to the growing demand for soybean, sunflower, and groundnuts.
Based on application the market is segmented into seed treatment, soil treatment, and others. The seed treatment segment dominated the market and is expected to maintain its dominance during the forecast period owing to benefits of induced nutritional values in the seeds.
Additionally, the report provides detailed initiatives that are being taken in the field of Biofertilizers. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the important competitors, and high investment in research and development.
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Major key players include Novozyme, National Fertilizers Limited, Agrinos AS, Camson Bio Technologies Limited, Kiwa Bio-Tech Products group Corporation, Lallemand Inc, Rizobacter Argentina S.A., Monsanto BioAg, Mapleton Agribiotech, and Valent BioSciences are some of the prominent players operating in the global Biofertilizers market. Several M&A’s along with partnerships have been undertaken by these players to develop Biofertilizers.
Global Biofertilizers Market Segmentation
Market Insight, by Product
- Nitrogen Fixing Biofertilizers
- Phosphorus Biofertilizers
- Compost Biofertilizers
- Liquid Biofertilizers
Market Insight, by Microorganisms
- Phosphate solubilizing bacteria
- Other microorganisms
Market Insight, by Crop
- Fruits & Vegetables
- Pulses & Oilseed
- Cereals & Grains
Market Insight, by Application
- Seed Treatment
- Soil Treatment
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- National Fertilizers Limited
- Agrinos AS
- Camson Bio Technologies Limited
- Kiwa Bio-Tech Products group Corporation
- Lallemand Inc
- Rizobacter Argentina S.A
- Monsanto BioAg
- Mapleton Agribiotech
- Valent BioSciences