Asia-Pacific Biofertilizers Market was worth $0.58 billion in 2021 and estimated to be growing at a CAGR of 14.4%, to reach $0.100 billion by 2027.
The Asia-Pacific market is likely to register the highest growth due to the noteworthy increase in the awareness level in farmers for the benefits of Biofertilizers. Biofertilizers are defined as preparations comprising living cells or hidden cells of effective strains of microorganisms that help crop plants to uptake nutrients. The use of Biofertilizers is one of the essential components of combined nutrient management, as they are cost-effective and renewable sources of plant nutrients to enhance the chemical fertilizers for sustainable agriculture.
Asia-Pacific Biofertilizers Market Drivers:
Significant R&D efforts have been started in the last few years along with raising awareness of the farmers; these are the major factors driving the growth of this market. The high growth prospects in developing markets and available regions offer new growth opportunities for the players in the Biofertilizers market. Low adoption of these fertilizers is majorly hampering the growth of the market.
APAC Biofertilizers Market – By Mode of Application:
Nitrogen-fixing bio-fertilizer is the leading segment of the market which is fuelled by the increasing acceptance and demand of these fertilizers and is expected to expand enormously.
Geographically the market is segmented into
India is anticipated to witness the highest growth in the forecast period due to increasing awareness among farmers for the benefits of Biofertilizers.
The value chain includes producers in the Biofertilizers market and they are Lallemand Inc., Camson Bio Technologies Limited (India), Rizobacter Argentina S.A., Novozymes A/S, Camson Bio Technologies Limited (India) and Nutramax Laboratories Inc., Symborg S.L., Mapleton Agri Biotech Private Ltd and AgriLife.
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