The global biofertilizers market is dominated by Europe and Latin American countries like Argentina, which is a part of ROW together accounting for 80% of the market revenue. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in emerging countries such as China, India due to the rising awareness among the population triggered by government promotion. The rate of production of biofertilizers has also increased due to the favorable policies designed by government in various countries.
The driving factors of the global biofertilizers market are increased demand for organic food products, promotion of biofertilizers by various government agencies to create awareness among the masses and environmental hazards associated with chemical fertilizers. The global biofertilizers market is restrained by many factors such as lack of awareness about the concept of biofertilizers which is restraining the growth of the industry. Various advantages of chemical fertilizers are another factor which is holding back the customers from making a switch to biofertilizers. Low rate of adoption is due to the disadvantages associated with biofertilizers. Leading manufacturers are focused on expansion of the business in the domestic market and setting up new plant for increasing production capacity as well as product line.
We have used various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of biofertilizers market. The primary sources – experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of biofertilizers.
To capitalize on the growth trend in the global biofertilizers market, several leading companies are rushing in to the development and manufacturing of effective strains of microorganisms. Growing demand for biofertilizers is forcing the global players to add new varieties to their product offerings. We have also profiled leading players of this industry with their recent developments and other strategic industry activities. These include: CBF China Biofertilizers AG (Germany), Mapleton Agribiotec PTY Ltd. (Australia), Nutramax Laboratories Inc. (U.S.), Novozyme (Denmark), Growing Power Hairy Hill L.P. (Canada) and Rizobacter Argentina S.A. (Argentina).
Scope of the report
This research report categorizes the global market for biofertilizers on the basis of Types, Applications, and geography; forecasting revenue and analyzing trends in each of the submarkets:
On the basis of types:
- Nitrogen fixing biofertilizers
- Phosphate solubilizing biofertilizers
- Potash mobilizing biofertilizers
On the basis of Applications:
- Pulses and Oilseeds
- Fruits and Vegetables
On the basis of geography:
- North America
- Rest of the World