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Bio-Fertilizers Market: Segmented: By Type (Nitrogen-fixing, Phosphate-Solubilising and Others); By Application (Soil Treatment and Seed Treatment); By Form (Liquid and Dry); By Crop Type (Fruits & Vegetables, Pulses& Oilseeds and Cereals & Grains); by Region (North America, Asia-pacific, Europe, Latin America and Middle-East and Africa)- Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Bio-Fertilizers Market is anticipated to surpass USD 8322 Million by 2030 from USD 1.65 Billion in 2020 at a CAGR of 12.94% throughout the forecast period, i.e. 2020-2030
Bio-Fertilizer is the organic fertilizer affiliated to the family of agrochemicals, which facilitates the growth of plants by increasing the availability of nutrients to them. When sprinkled on the crops, land, or saplings, it increases the fertility of the soil and makes suitable conditions for plants to easily absorb the concentrated nutrients. Bio-Fertilizers are gaining popularity as they restore the fertility of the soil, do not harm the crops, are environment-friendly, and obstruct the growth of pathogens. Moreover, the chemical fertilizers adversely affected the ecosystem propelling the use of organic fertilizers or Bio-Fertilizers. Growing concerns regarding the health of humans & animals coupled with increasing acknowledgment amongst the peasants are likely to drive the overall market growth. However, Bio-Fertilizers cannot be stored for a long time as they consist of living microbes. This is not the case with chemical fertilizers and hence many people resort to them creating a barrier to the growth of the Bio-Fertilizers market.
The Bio-Fertilizers Market is estimated to grow on the back of the following reasons. The major driver of the Bio-Fertilizers Market is the growing concerns regarding health and the environment. Improving the yield of the soil, food safety, increased supply of nutrients, rising demand for food from the growing population, and wide acceptance among peasants are some factors that are anticipated to expand the market for Bio-Fertilizers. However, the supply of chemical fertilizers at lower prices and inadequate knowledge regarding the use of Bio-Fertilizers among the farmers are factors that may hinder the growth. Moreover, technological advancement coupled with favorable government policies for encouraging organic methods of farming is expected to positively impact the market's inclination.
Based on the type of Bio-Fertilizers, the market is categorized into nitrogen-fixing Bio-Fertilizers and phosphate-solubilizing Bio-Fertilizers. The nitrogen-fixing segment accounted for a major market share in 2019 and is anticipated to grow at a CAGR of XX% during the forecast period. This is so because it raises the productivity of the soil through nitrogen fixation. It releases a plant enzyme that assists the germination and growth of roots. They can be used in any type of crop.
Based on the application, the Bio-Fertilizers market is segmented into soil treatment and seed treatment. The soil treatment segment contributed a significant share of the market in 2019, globally, and is projected to drive the demand for Bio-Fertilizers owing to the factors such as improvement in the fertility of the soil, uninterrupted supply of nutrients to the plants, and enhancing the yield of the crops. Moreover, increased damage caused by synthetic fertilizers will propel the demand for Bio-Fertilizers.
Based on the form of Bio-Fertilizers, the market is segregated into dry and liquid Bio-Fertilizers. The liquid Bio-Fertilizers accounted for a market share of XX% in 2019 and is likely to witness the highest CAGR during the forecast period due to greater shelf life, economic viability, better endurance, and convenient usage for farmers in emerging economies.
The global Bio-Fertilizers market is classified based on the type of crop into fruits & vegetables, pulses & oilseeds, and cereals & grains. The cereals & grains segment captured a considerable market share in 2019 and is projected to register a CAGR of XX% during the forecast period. The increasing awareness among people about the health and the impact of substandard food on health coupled with the transition to more nutritional food is to fuel the demand of the market.
The rising demand for organic food is to boost the market for Bio-Fertilizers
Consumers are now demanding more organic food as they are extremely interested in food safety issues, the rising level of disposable income, environmental issues, and due to growing concerns about residue-free food. Also, Bio-Fertilizers have improved the texture of the soil, productivity, and quality of organic food. Moreover, government initiatives such as providing subsidies to farmers growing organic crops are likely to steer the market growth.
Bio-Fertilizers remain alien to people in developing & underdeveloped economies
Bio-Fertilizer products remain unpopular among the people in developing and underdeveloped economies due to a lack of awareness which possess a great challenge in front of the Bio-Fertilizers producers. They still rely on synthetic fertilizers which adversely affect the yield and quality of soil but are comparatively cheap. Moreover, the Bio-Fertilizers cannot be stored for a long time & are at a high risk of getting contaminated.
Asia-Pacific to grow at the highest CAGR during the forecast period
Global Bio-Fertilizers Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. Geographically, Asia-Pacific is likely to dominate the market owing to increasing concerns about health, the fertility of the soil, and conserving biodiversity. Moreover, increasing demand for organic food due to a rise in disposable income, stringent government rules, and policies regarding the maintenance of the fertility of the soil & reduction of hazardous effects caused by chemical fertilizers, and transition to a more subsistence farming has ignited the growth of Bio-Fertilizers in the region. However, North America and Europe are expected to contribute significantly to total organic production, globally.
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Bio-Fertilizers Market size was estimated at USD 1.65 Million in 2021 and is expected to reach USD 8322 Million by 2030
Rizobacter, Novozymes A/S, Lallemand Inc., Symborg SL, AgriLife, National Fertilizers Limited, Gizatec, Kimitec Group, Mapleton Agri Biotech Ltd., and Biomax Naturals.
Nitrogen-fixing Bio-Fertilizers and Liquid Bio-Fertilizers
The rising demand for organic food is to boost the market for Bio-Fertilizers
Bio-Fertilizer is the organic fertilizer affiliated to the family of agrochemicals, which facilitates the growth of plants by increasing the availability of nutrients to them.
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