Biofertilizers Market Size, Share and Opportunity Analysis, 2019-2027 Biofertilizers are fertilizers which contain living microorganisms, and are used as microbial or soil inoculants that aid crop plants to uptake nutrients when applied through soil or seeds. Biofertilizers offer various advantages such as high yield of crops, retaining fertility of soil, are eco-friendly, and cost effective. Based on its nature and function, biofertilizers are classified into nitrogen fixing biofertilizers, phosphate solubilizing biofertilizers, potash moving biofertilizers, biofertilizers for micronutrients, and plant growth promoting rhizobacteria. Biofertilizers aid in decomposition of organic residue and accelerate overall plant development and growth. Increasing demand for high crop yield is expected to drive growth of the biofertilizers market. Market Dynamics Rising demand for organic food products is expected to drive demand for biofertilizers over the forecast period. Factors such as growing concerns for health, increasing disposable income, and environmental awareness is expected to drive demand for organic food. According to the International Federation of Organic Agriculture Movements, in 2017 a total of 69.8 million hectares of land was under organic crop cultivation, representing a 20% growth over 2016. According to the same source, the global organic food market was valued at US$ 97 billion in 2017, wherein the U.S. accounted for major market share, followed by Germany, France, and China. Furthermore, increasing demand for food, decline in total arable land, and increasing awareness about soil fertility is expected to drive demand for biofertilizers market. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/3000 Extensive & long term application of biofertilizers can result in accumulation of heavy metals, salts, and nutrients which can have adverse effects on plant growth & soil fertility. Also large volumes of biofertilizers are required for application due to low contents of nutrients, which can make it costly compared to chemical fertilizers. These factors are expected to restrict market growth of the biofertilizers over the forecast period. Key Market Players Major players operating in the global biofertilizers market include Lallemand Inc., Novozymes A/S, Agrinos AS, Symborg, Biomax Green Pte Ltd, LABIOFAM S.A., National Fertilizers Ltd., AgriLife, Kiwa Bio-Tech, and Mapleton Agri Biotec Pty Ltd. Companies operating in biofertilizers market are focusing on partnership & collaborations in order to enhance their market share. For instance, in 2017, Agrinos partnered with Krishi Rasyan Exports Pvt. Ltd. (an agrochemical company based in India with strong presence in northern part of India) for distribution of its products in India. This will help Agrinos to expand its presence in northern India. For More Information: http://bit.ly/2mBbTBj About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: sales@coherentmarketinsights.com
The research report on Biofertilizers Market is segmented by Crop Type, by Form, by Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
© Copyright 2024 Paperzz
