Newark, April 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global biofertilizers market is expected to grow from USD 1.4 billion in 2020 to USD 4.71 billion by 2030, at a CAGR of 13% during the forecast period 2021-2030.
The word 'bio' signifies 'life.' As a result, biofertilizers are defined as living organisms that improve the soil's nutrient quality. It refers to the use of microbes rather than chemicals to improve soil nutrition. As a result, it is less toxic and does not pollute the environment. Biofertilizers are living microbes that, when applied to seed, plant, or soil, encourage development by providing necessary nutrients such as nitrogen, phosphorus, and other mineral nutrients. Farmers are increasingly using nitrogen-fixing biofertilizers in the production of high-demand crops including wheat, rice, and soybeans. These biofertilizers can help to balance nitrogen levels in the soil, allowing plants to grow properly.
Avail Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/12641
The rising use of biofertilizers to boost the levels of phosphorus and nitrogen in plants and enhance the soil by restoring its normal fertility is driving the market. Biofertilizers are a low-cost and simple-to-use alternative to synthetic fertilizers. Farmers are also using biofertilizers to boost their farm productivity as demand for organic food products and a desire for chemical-free produce grows. A growing awareness of the environmental risks associated with the usage of synthetic agrichemicals is also fuelling market growth. Microbes are increasingly being used in biofertilizers, demonstrating their potential for sustainable farming and food safety. Over the forecast period, the market for biofertilizers is expected to be driven by rising food safety concerns. Furthermore, biofertilizers aid in the enhancement of soil texture and quality, allowing plants to grow more effectively under adverse conditions such as drought. Furthermore, biofertilizers are a low-cost and simple-to-use alternative to petrochemical fertilisers. However, a key restraint on the market for biofertilizers is that they require specific handling for long-term storage and must be used before their expiration date. Another key obstacle to market expansion is a lack of proper organic farming training and inadequate biofertilizer knowledge among farmers.
Key players operating in the global biofertilizers market are AgriLife, CBF China Biofertilizers, Fertilizers USA LLC, Lallemand Inc., Novozymes A/S and Symborg SL among others. To enhance their market position in the global Biofertilizers market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• Agrofértil Camelo, a prominent provider of sustainable agriculture solutions to growers in the Brazilian state of Ceará, established a new commercial distribution partnership with Agrinos in May 2019.
For more information about this report visit: https://www.thebrainyinsights.com/report/biofertilizers-market-12641
The nitrogen fixing biofertilizers segment dominated the market with a market share of around 55.4% and a market value of around 0.78 billion in 2020.
The product segment is divided into nitrogen fixing, phosphate solubilizing, others. The nitrogen fixing biofertilizers segment dominated the market with a market share of around 55.4% and a market value of around 0.78 billion in 2020. Because plants lack the ability to convert atmospheric nitrogen into fixed nitrogen, which is necessary for their growth and development, nitrogen-fixing bacteria are the most often used biofertilizers.
The seed treatment segment led the market with a market share of 66.2% and a market value of around 0.93 billion in 2020.
The application segment is divided into soil treatment, seed treatment. The seed treatment segment led the market with a market share of 66.2% and a market value of around 0.93 billion in 2020. One of the most important elements of application is seed inoculation or seed treatment. The desired seeds are dipped in a mixture of phosphorus and nitrogen fertilizers before being treated. The seeds are then sun-dried before being planted in the fields. The inoculant coating on the seeds promotes rapid and healthy plant growth. The main goal of using biofertilizers during seed treatment is to increase the nutritional content of vegetables, fruits, cereals, and grains by inducing vital elements like sulfur, zinc, nitrogen, and phosphorus.
The oilseeds and pulses segment is expected to develop at the fastest rate over the forecast period..
The crop type segment is divided into cereals & grains, fruits & vegetables, oilseeds & pulses, others. Oilseeds and pulses are expected to develop at the fastest rate over the forecast period. Growing global demand for soybean, sunflower, and groundnuts is seen as a key benefitting element for the product's use in the oilseeds and pulses sector.
For Report Purchase Enquiry: https://www.thebrainyinsights.com/enquiry/buying-inquiry/12641
Regional Segment Analysis of the Biofertilizers Market
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific region is anticipated to grow at the fastest CAGR over the forecast period. This trend is fueled by rising consumer demand for organic foods, as well as regulatory actions and agricultural reforms implemented by governments across Asia.
About the report:
The global biofertilizers market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
