According to Goldstein Research, “Bio-fertilizers market is expected to experience several growth opportunities in near future. Bio-fertilizers can play a major role in overcoming the dependency on chemical fertilizers to raise crop productivity. Bio-fertilizers are eco-friendly and cost-effective source which provides sufficient nutrients to plants and are great substitutes for chemical fertilizers.”
Global bio-fertilizer market is segmented on the basis of bio-fertilizers type, by crop type and by application. Application segment is further categorized into seed treatment and soil treatment. On the basis of application, seed treatment was valued USD 0.97 billion in 2016 and is expected to occupy over 65% market share of bio-fertilizers during the forecast period. However, soil treatment is projected to grow at a CAGR of 12% over the forecast period. High nutritional food for health is driving the demand for bio-fertilizers in agriculture sector. Based on crop type, cereals & grains is the dominating segment of bio-fertilizers market and were accounted for over 42% revenue share of total bio-fertilizers market.
North-America region accounted for 30% revenue share of bio-fertilizer market in 2016. Growing demand of organic food in countries such as the U.S. and Canada is expected to expand the bio-fertilizers market in North-America region. North-America bio-fertilizer market is anticipated to grow at a CAGR of 15.8% over the forecast period, owing to the growing awareness towards harmful effects of chemical fertilizers on environment and inclination towards the consumption of organic food in the region.
Bio-fertilizers: An innovative step towards the sustainable development
Implementation of advanced technology in crop production is giving a new outlook to agriculture industry. Emerging economies such as India are focusing more to provide high nutritional value to have high yield of stable foods. IARI (Indian Agricultural Research institute) introduced an algal bio-fertilizer technology and cyanobacterial bio-fertilizers. Economic benefits and simple process of this fertilizer is becoming more popular among farmers. However, algal bio-fertilizer technology is still not widely accepted due to the non-availability of proper inoculums and presence of contaminants & variations.
“Global Bio-Fertilizer Market 2024” contains detailed overview of the global bio-fertilizer market in terms of market segmentation by components, by technology and by end-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global bio-fertilizer market also provides competitive outlook of some of the major players of global bio-fertilizer market which includes profiling of companies such as Gujarat State Fertilizers & Chemicals Ltd., National Fertilizers Ltd., Novozymes, Lallemand Inc., Madras Fertilizers Limited (India), Camson Bio Technologies Private Limited, Nachurs Alpine Solutions, International Panaacea Limited, Krishak Bharti Co-operative Ltd (KRIBHCO), AZOMURES, Rizobacter Argentina S.A., International Panaacea Limited, EuroChem Agro GmbH, Bio Power Lanka, Ajay Bio-Tech (India) Ltd, Agri Life, Antibiotice S.A. and Biomax. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global bio-fertilizer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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