Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Biological Organic Fertilizers Market - Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global biological organic fertilizer market is poised to achieve a striking Compound Annual Growth Rate (CAGR) of 13.3% during the forecast period, as unveiled in a comprehensive new report. The study delves into key industry dynamics and market trends that are anticipated to shape the growth trajectory of the biological organic fertilizer market in the foreseeable future.
Key Highlights:
- The surge in organic farming practices emerges as a significant driving factor behind the expansion of the biological organic fertilizer market. Amplified emphasis on sustainable agriculture, coupled with governmental support for manufacturers, collectively fosters the growth of this market.
- Recent research underscores the impact of bio-organic fertilizers on grain crops. A bio-organic fertilizer boasting qualities such as nutrient acquisition and promotion of plant growth in rice has been identified. With its organic-based biofertilizer composition comprising RP (5%), biochar (15%), and living cells of Plant Growth Promoting Bacteria (PGPB), particularly Bacillus, Proteus, and Paenibacillus spp., this innovation showcased potential benefits for rice cultivation. Field experiments and demonstration trials substantiated that PGPB supplementation facilitated a 30% reduction in synthetic N requirement, enhancing biological nitrogen fixation and solubilization of P from rock phosphate during rice growth. This holistic effect of living ingredients and organic content in bio-organic fertilizer not only conserved urea-N by 30% but also eliminated the need for Triple Super Phosphate fertilizer, while concurrently enhancing nutrient uptake, N and P use efficiencies, rice yield, and soil health. Such outcomes contribute to the growing adoption of biological organic fertilizers.
Biological Organic Fertilizer Market Trends:
Ascendance of Organic Farming: With increasing demand for organic products and consumption, the landscape of organic farming has expanded globally. Consequently, the market for biological organic fertilizers has witnessed remarkable growth in response to surging interest in regenerative agriculture, organic farming, and soil health. These fertilizers incorporate specific microorganisms, including nitrogen-fixing bacteria, and derive from animals and plants, like livestock manure and crop residues, aligning seamlessly with the ethos of Organic Farming.
The Research Institute of Organic Agriculture revealed that the area dedicated to organic farming grew by 4.1% in 2020. This trend is echoed in both developed and developing nations, as demonstrated by regional statistics. For instance, the Indian government's data indicated that the area undergoing organic farming certification nearly doubled in 2021-2022, reflecting the escalating initiatives and adoption of organic farming. As the cultivation area for organic crops expands and the demand for high-quality yields surges, cultivators are expected to transition from excessive synthetic fertilizers to biological organic alternatives, thus stimulating market growth.
Asia-Pacific Emerges as Rapidly Growing Hub: Among global regions, the Asia-Pacific organic fertilizer market is set to exhibit the most accelerated growth. The heightened awareness among farmers about the advantages of bio-based and organic residue-based fertilizers is propelling increased consumption of organic fertilizers in the region. Major agricultural countries like China, India, Thailand, Indonesia, and Vietnam constitute the bulk of regional demand, with China and India spearheading market developments.
The Asia-Pacific region is marked by diverse regulations governing fertilizers, often stipulating specific requirements for biological and organic variants. Indonesia, for instance, issued Regulation MOA No. 1/2019 for the Registration of Organic Fertilizers, Biological Fertilizers, and Soil Improvement. This measure ensures product quality through mandatory quality tests approved by the Ministry of Agriculture.
Furthermore, the proliferation of organic farming practices across various Asian countries and surging demand for organic products contribute to market expansion. The organic sector has also witnessed significant policy developments in countries like Japan, where the Basic Plan for Agriculture and Management aims to triple organic farmer numbers and organic land by 2030, fueling market growth.
Competitive Landscape of Biological Organic Fertilizer Market:
The biological organic fertilizer market boasts a fragmented structure encompassing prominent international and regional players. Companies are embracing strategies such as collaboration with government bodies, market expansion, and product innovation.
Market leaders include:
- Rizobacter Argentina S.A.
- Lallemand Inc.
- National Fertilizers Limited
- Madras Fertilizers Limited
- T Stanes & Company Limited
- Gujarat State Fertilizers & Chemicals Ltd
- String Bio
- Rashtriya Chemicals & Fertilizers Ltd
- Agrinos
- Biomax Naturals
- Symborg (Corteva Agriscience)
- Agri Life
- Premier Tech
- Biofosfatos do Brasil
- Kiwa Bio-Tech Products Group Corporation?
- Protan AG?
- Mapleton Agri Biotech Pty Limited
- Bio Nature Technology PTE Ltd.
- Kribhco
- Bio Ark Pte Ltd
- Novozymes
- Savio BIO Organic AND Fertilizers Private Limited
- ACI Biolife
The unregulated nature of the market has enabled smaller companies to thrive, resulting in fragmentation. The market is poised for a transition to consolidation with proper regulatory measures.
For more information about this report visit https://www.researchandmarkets.com/r/pyn2ba
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