Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Mycorrhizae Based Biofertilizers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented by Type (Ectomycorrhiza and Endomycorrhizae,), By Form (Liquid and Solid), By Mode of Application, By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Mycorrhizae Based Biofertilizers market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing demand for the organic food industry in the developing region. Also, growing initiatives by government agencies and an increase in awareness about the need for sustainability in modern agriculture will further boost the growth of the market during the forecasted period. Similarly, the growing adoption of precision farming and protected agriculture is expected to create significant growth in the forecasted periods.
Additionally, growing demand for reduced chemical fertilizers along with growing usage of biofertilizers in private ranch firms are expected to enhance the demand for global mycorrhizae-based biofertilizers over the years. Also, growing demand for increasing the production of crops due to the rapidly growing population across the globe along with growing environmental concerns for using chemical biofertilizers are the major factor fuelling the growth of the market.
Similarly, a growing number of major key players for the development of bio-based fertilizers for better crop productivity will enhance the demand for mycorrhizae based biofertilizers during the forecasted period.
Growing Demand for Organic Food
Growing demand for organic food for maintaining a healthy lifestyle can enhance the demand for mycorrhizae-based biofertilizers in the forecast period. Also, increasing demand for secure food and nourishment along with producing organic vegetables on a farm can reduce rural unemployment and poverty in the developing region. Novozymes produced a biofertilizer called as RhyzoMyco which will enhance the nutrient uptake in the crops like potatoes and cucumbers.
Enhancing the production of organic fruits and vegetables is a preventive measure that will ensure good health and environmental advantages thereby prompting the increased usage of mycorrhizae-based biofertilizers and boosting the growth of the market during the forecasted period.
Also, the growing demand for adopting organic farming to reduce increasing soil pollution will enhance the demand for mycorrhizae-based biofertilizers in the forecasted period.
According to the study, Arbuscular mycorrhiza is a common symbiotic relationship between plant roots and specialized soil fungi, and it has good soil health and high crop yields which will help the agriculture sector as well as other industries. In 2020, the Government of India announced that every farmer has to buy bio fertilizers urea to promote organic nutrients and reduce the use of chemical fertilizers.
Growing Demand for Natural and Sustainable flavors
Chemical fertilizers are expensive, non-eco-friendly, and harmful to human health, and can cause eutrophication, and diminish the soil organic matter and microbe activity. So, the use of mycorrhizae-based biofertilizers is increased as it has organic compounds and is environment-friendly. Growing demand for soil quality by supplying nutrients and the natural environment in the rhizosphere can enhance the demand for the mycorrhizae-based biofertilizers market during the forecasted period. The microbes present in mycorrhizal biofertilizers such as ectomycorrhiza and endomycorrhiza species produce phosphorus and other beneficial nutrients in plants. It plays an important role in plant growth productivity and protection against biotic and abiotic stress which can produce an essential and effective product for organic and sustainable agriculture which will further boost the growth of the market during the forecasted period.
In April 2022, Premier Tech Ltd acquired US-based Northwoods Organics transaction would allow Premier Tech to strengthen its position in the United States by adding two peat bogs and a packaging plant for conditioning horticultural products.
Report Scope:
In this report, Global Mycorrhizae Based Biofertilizers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Mycorrhizae Based Biofertilizers Market, By Type:
- Ectomycorrhizae
- Endo mycorrhizae
Mycorrhizae Based Biofertilizers Market, By Form:
- Liquid
- Solid
Mycorrhizae Based Biofertilizers Market, By Mode of Application:
- Seed Treatment
- Soil Treatment
- Fertilization Treatment
Mycorrhizae Based Biofertilizers Market, By Application:
- Agricultural
- Non-agricultural
Mycorrhizae Based Biofertilizers Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Mycorrhizae-Based Biofertilizers Market Outlook
6. North America Mycorrhizae-Based Biofertilizers Market Outlook
7. Europe Mycorrhizae-Based Biofertilizers Market Outlook
8. Asia-Pacific Mycorrhizae Based Biofertilizers Market Outlook
9. South America Mycorrhizae Based Biofertilizers Market Outlook
10. Middle East and Africa Mycorrhizae Based Biofertilizers Market Outlook
11. Market Dynamics
11.1. Drivers
11.1.1 Growing demand for organic food.
11.1.2 Growing demand for sustainable food and flavors
11.2 Challenges
11.2.1 High product cost of mycorrhizae based biofertilizers
11.2.2 Lack of knowledge about organic farming
12. Market Trends & Developments
13. Global Mycorrhizae Based Biofertilizers Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
A selection of companies mentioned in this report includes
- Novozymes A/S.
- UPL Limited.
- Premier Tech Ltd.
- Groundwork Bioag Ltd.
- Plant Health Care Plc.
- Valent BioSciences Corporation
- Atens-Agrotechnologias Naturales S.L.
- Vegalab S.A.
- Lallemand Inc.
- Agrinos Inc.
- Agrilife Limited
For more information about this report visit https://www.researchandmarkets.com/r/615c9h
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