The Biofertilizers Market is predicted to reach $ 1760.39 USD million with a CAGR of 13.6% according to Market Data Forecast report

The Biofertilizers Market is predicted to reach $ 1760.39 USD million with a CAGR of 13.6% according to Market Data Forecast report

ID: 1369 | October 2018 | Region: Global

The Biofertilizers Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Biofertilizers Market is estimated to be $930.5 USD million and predicted to rise to $ 1760.39 USD million with a CAGR of 13.6%. The market is segmented by Type (Nitrogen Fixing, Phosphate Solubilizing and Potash Mobilizing) by Crop Type (Cereals & Grains, Pulses & Oilseeds and Fruits & Vegetables), by Microorganism (Azotobacter, Azospirillium, Rhizobium, Phosphate Solubilizing Bacteria and Cyanobacteria), by Mode of Application (Seed Treatment and Soil Treatment), by Form (Pure & Mixed Liquid Fermentations, Dispersible Granules and Pellets). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The fast progress of biofertilizer use in agriculture, in addition to the growing demand for organic food and new organic goods in the region has led to high growth of the biofertilizer market. Some other factors fuelling this market growth are reasonable cost of Biofertilizers, rising focus on supportable farming, increasing government's support and environmental guidelines. Low adoption of these fertilizers is majorly hampering the growth of the market.

Nitrogen fixing was the largest product segment, accounting for the maximum share of global revenue share in 2016. Based on application, seed treatment segment holds the lead position. Seeds treated with Biofertilizers help them sustain bacteria and virus attacks and also aids in increasing the yield.

Asia Pacific is the fastest growing market for biofertilizers, which includes countries such as India and China having large population, vast landscape and booming economies. Higher demand for organic food products in North America has propelled the growth of the Biofertilizers market.

The value chain includes producers in the Biofertilizers market and they are Lallemand Inc., Camson Bio Technologies Limited, Rizobacter Argentina S.A., Novozymes A/S, Camson Bio Technologies Limited and Nutramax Laboratories Inc., Symborg S.L., Mapleton Agri Biotech Private Ltd and AgriLife.

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