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Biofertilizers Market projected To Grow With Significant CAGR Over The Forecast Period
Biofertilizers Market projected To Grow With Significant CAGR Over The Forecast Period


Biofertilizers Market
BriefingWire.com, 5/17/2018 - An Introduction to Biofertilizers Market

Biofertilizers are basically agro chemicals major component of which is organic in nature. They contain microorganisms which when applied to the plant surfaces, soil or to the seed, promote growth. Biofertilizers act through the natural process of solubilizing phosphorous, fixing atmospheric nitrogen and stimulate plant growth by synthesizing the substances. Though there is a gradual reduction in the usage of chemical fertilizers as they can badly impact the environment and the biodiversity, but their complete eviction from agricultural process is yet to happen. Biofertilizers can be used in soil treatment, root dripping and seed treatment.

Biofertilizers Market – Drivers and Constraints

Factors like increasing demand for eco-friendly fertilizers, growing demand for the organic food globally, improved standard of living and a rising per-capita income will definitely support the growth of biofertilizers market globally. Also, growing concern for the environment and some of the initiatives taken by governments of various countries to support the manufacturers will add up to this growth.

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Global Biofertilizers Market- Classification

Global biofertilizers market can be segmented on the basis of type, application, form, crop type, microorganism and geography.

On the basis of type, the biofertilizers market can be segmented into the following categories:-

• Phosphate-solubilizing

• Nitrogen-fixing

• Potash-mobilizing

• Others (Sulphur-solubilizing biofertilizers boron, and zinc)

On the basis of crop type, the biofertilizers market can be segmented into the following categories:-

• Pulses & oilseeds

• Cereals & grains

• Fruits & vegetables

• Others ( fiber crops, turf & ornamentals plantation crops, silage & forage crops)

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On the basis of microorganism, the briofertilizers market can be segmented into the following categories:-

• Azotobacter

• Rhizobium

• Azospirillum

• Phosphate-solubilizing bacteria

• Cyanobacteria

• Others (aulosira, nostoc Azolla, Anabaena, and tolypothrix)

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North America will continue to hold the highest market share in the forecasted period. For the same period, Europe is likely to be the second largest market for biofertilizers. Advancement in biotechnology, demand for high yield crops, presence of developed regions and a regulatory mechanism which is most suitable for biofertilizers market are likely to drive growth in this region. However, Asia-Pacific region can’t be ignored as well. The organic food industry is growing, farm expenditure is increasing and governments of various countries in this region are taking initiatives to increase awareness about biofertilizers and their benefits.

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