Description:-
Micro-organisms that aid in plant growth by increasing the supply of nutrients is defined for biofertilizers. Synthetic fertilizers degrade the quality of soil and on their continuous usage kill natural pesticides that are actually beneficial for plants. In addition, after a certain span, the plants become tolerant to synthetic fertilizers due to which the amount used is increased. This, results in adverse effects. Thus, the use of biofertilizers, that sync with the nature and restores ecological balance, is encouraged. This is identified as the primary factors that is expected to boost the growth of the biofertilizers market. Other factors such as growing population, favorable government, and high demand and adoption of biofertilizers can augment the market growth.
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Key players
Agri Life
Ajay Bio-Tech (India)
Antibiotice
Biomax
Industry Update
August 2019
Baramoda, an Egypt-based tech start-up was established. The company to provide solution for converting agri-waste into biofertilizers.
Segmental Outline
The segmental analysis of the global market for biofertilizers aids in comprehending its growth dynamics, better. An exhaustive study of the market has been conducted based on type and application. By applications, the global market has been segmented in cereals, pulses and oilseeds, plantations, and fruits and vegetables. The vegetable and fruits segment can direct the growth of the market. As the population density increase, the need for production of food surge. Hence, increase in agricultural activities is expected to cast a positive influence on the market. By type, the market has been segmented in phosphate solubilizing bio-fertilizers, potash mobilizing bio-fertilizers, and nitrogen fixing bio-fertilizers. Biofertilizers impose no health threats. The safety offered by biofertilizers is expected to impel its market in the coming years. The nitrogen fixing bio-fertilizer segment can note a healthy growth.
Detailed Regional Analysis
By region, the biofertilizers market analysis covers some key regions of the world, under which region specific progress of the market has been forecasted. North America (Canada, the United States, and Mexico), Asia-Pacific (India, Japan, China, Korea, and Southeast Asia), Europe (Germany, the UK, France, Russia, and Italy), South America (Brazil, Colombia, Argentina,), and Middle East and Africa (Egypt, Saudi Arabia, UAE, Nigeria, and South Africa). Asia Pacific is expected to expand at a high rate. Eminent players that are residing in the region and extensive organic farming practise taking place in APAC are factors that are expected to push the growth of the regional market. North America banned usage of synthetic fertilizers due to the increase in number of people suffering from health disorders on consuming vegetables and fruits obtained from bad farming practices. Thus, the market in the North America is expected to exhibit rapid growth.
Market Key Players
Agri Life, Antibiotice, Ajay Bio-Tech (India), and Biomax are some of the acclaimed producers of biofertilizers. The inclination of a greater number of people towards organic food is augmenting the market growth. And, market players are making deliberate efforts to bring better quality products in the market. This is tightening the competition among them, which, in turn, can benefit that market.
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