Pune, Aug. 18, 2020 (GLOBE NEWSWIRE) -- The global biofertilizers market size is likely to rise at a CAGR of 10.9% between 2020 and 2027 on account of the increasing demand for chemical-free fertilizers for agricultural production. In May 2016, Lage y Cia, a company in Uruguay was acquired by a Canadian company Lallemand Inc., for increasing the production of yeast, fungi, and bacteria as a biocontrol, biofertilizer, and a biostimulant agent. According to a recent report by Fortune Business Insights titled, “Biofertilizers Market Size, Share & COVID-19 Impact Analysis, By Type (Nitrogen Fixing, Phosphate Solubilizers, and Others), Microorganism (Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM, and Others), Application (Seed Treatment, Soil Treatment, and Others), Crop Type, and Regional Forecast, 2020 – 2027,” the value of this market was USD 1.49 billion in 2019 and is anticipated to reach USD 3.28 billion by the end of 2027.
The impact of the novel coronavirus on the whole world is devastating. Most businesses are facing a crisis owing to the imposition of temporary lockdown by the governments of various nations. This COVID-19 pandemic has left a major dent on the world economy as well. Major investments were made on research and development of an antidote to fight the novel coronavirus.
Fortune Business Insights is offering detailed analysis of various markets impacted by the coronavirus pandemic. These reports will help investors gain a strategic viewpoint on the markets and accordingly plan ahead of the future of the market.
Get a Sample PDF Brochure with Impact of COVID19 Analysis:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/biofertilizers-market-100413
Objectives of the Report:
The report offers a 360-degree overview of the market for biofertilizers and emphasizes on drivers, restraints, challenges, and upcoming opportunities. It also describes the current trends, recent industry developments, and other interesting insights that will help to accelerate the demand for biofertilizers in the coming years. The report throws light on the list of players operating in this market and the key strategies adopted by them to gain a competitive edge. For more information on the report, log on to the company website.
Drivers & Restraints-
Rising Concern over Declining Soil Quality to Augment Growth
The use of chemicals and acidic fertilizers such as calcium nitrate, monoammonium phosphate, and others has resulted in degradation of soil quality. Over the years, this has led to less crop cultivation, eventually leading to the land getting barren. This has propelled the need for organic fertilizers, thereby augmenting the global biofertilizers market growth. Besides this, biofertilizers consist of living microorganisms that help the plants to grow naturally by supplying essential nutrients. It also helps to increase the fertility of the soil. The aforementioned factors are also contributing to the growth of the market.
On the contrary, biofertilizers have high production costs and this may pose a major challenge to the farmers, thereby causing hindrance to the growth of the market. In addition to this, they have a lower shelf-life as compared to chemical fertilizers and have lower versatility. This may also hamper the growth of the market in the forecast years.
Nevertheless, government support in terms of agricultural awareness programs and promotion and distribution of bio-fertilizers are expected to create lucrative growth opportunities for the market in the coming years.
Browse Detailed Research Insights with TOC:
https://www.fortunebusinessinsights.com/industry-reports/biofertilizers-market-100413
Segmentation
Cereals Segment to Continue Dominance Owing to Rising Demand for Organic Products
Among all segments by crop type, the cereals segment earned 43.74% share and emerged dominant accounting to the high demand from both developing and developed nations. This is further attributed to the nutritional benefits offered by cereals.
Regional Analysis
Europe and North America are Dominant Owing to Presence of Several Organic Farms
Geographically, North America and Europe are holding the larger biofertilizers market share on account of the presence of a large number of farms following organic agricultural practices in countries such as Mexico, and the United States. In 2019, North America earned a revenue of USD 470.83 million. According to the United States Department of Agriculture (USDA), organic businesses and certified farms grew at a massive rate of 13% between 2015 and 2016.
On the other side, the market in South America is likely to emerge as the fastest growing region during the forecast period on account of the increasing demand for organic products from countries such as Brazil, and Argentina.
Competitive Landscape
Major Companies are Focused on Improving their Product Portfolios
Manufacturers of the global biofertilizers market are engaging in new product launches, and enhancing their product portfolio for gaining a competitive edge in the market. Some of them are also adopting collaborative efforts such as joint ventures, agreements and contracts, and others to hold significant positions in the market competition.
List of the Leading Companies Profiled in the Biofertilizers Market Research Report are:
- Monsanto BioAG (Missouri, United States)
- Rizobacter Argentina S.A (Argentina)
- Novozymes A/S (Copenhagen, Denmark)
- Symborg (California, United States)
- Agrinos AS (Oslo, United States)
- Agri Life (Telangana, India)
- Camson Bio Technologies Ltd (Karnataka, India)
- Gujarat State Fertilizers & Chemicals Ltd (Gujarat, India)
- BioWorks Inc. (New York, United States)
- Lallemand Inc. (Montreal, Canada)
- Others
Order a Complete Research Report:
https://www.fortunebusinessinsights.com/checkout-page/100413
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Applicationology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Biofertilizers Industry SWOT Analysis
- Supply Chain & Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Biofertilizers Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Nitrogen Fixing
- Phosphate Solubilizers
- Others
- By Microorganism (Value)
- Rhizobium
- Azotobacter
- Azospirillum
- Pseudomonas
- Bacillus
- VAM
- Others
- By Application (Value)
- Soil Treatment
- Seed Treatment
- Others
- By Crop (Value)
- Cereals
- Pulses & Oilseeds
- Fruits & Vegetables
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/biofertilizers-market-100413
Industry Developments:
June 2019 – Bayer, a German company and Novozymes, a Denmark based biofertilizer company declared the continuation of their research and development along with distribution partnership. As per this venture, Novozymes will be able to form multiple partnerships with other companies such as Univar Solutions (the U.S.), and UPL (India) and distribute the biological products.
Have a Look at Related Research Insights:
Nitrogenous Fertilizer Market Size, Share & Industry Analysis, By Type (Urea, Calcium Ammonium Nitrate, UAN, Ammonium Sulphate, and Other Nitrogenous Fertilizers), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Turf & Ornamentals), and Regional Forecast, 2019 – 2026
Phosphatic Fertilizers Market Size, Share & Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, and Others), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecast, 2019-2026
Agricultural Biologicals Market Size, Share and Industry Analysis By Type (Biopesticides, Biostimulants, and Biofertilizers), Source (Microbial and Biochemicals), Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), By Crops, and Regional Forecast 2019-2026
Liquid Fertilizers Market Size, Share & Industry Analysis, By Type (Synthetic, Organic), By Nutrient Type (Nitrogen, Potassium, Phosphate, Micronutrient), By Mode of Application (Fertigation, Foliar, Soil), By Crop Type (Horticulture, Field Crop, Turf & Ornamentals, Others) and Regional Forecast, 2020-2027
Organic Fertilizers Market Size, Share & Industry Analysis, By Source (Animal Origin, Plant Origin), By Form (Dry, Liquid), By Crop Type (Cereals, Pulses and Oilseeds, Fruits and Vegetables, Turf and Ornamental) and Regional Forecast, 2020-2027
Specialty Fertilizers Market Size, Share & Industry Analysis, By Type (Controlled-release Fertilizers, Water-soluble Fertilizers, Agricultural Micronutrients, and Customized Fertilizers), Application Method (Soil, Foliar, and Fertigation), Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Turf & Ornamentals), and Regional Forecasts, 2019 – 2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/biofertilizers-market-9210