Mycorrhiza-based Biofertilizer Market

Global Mycorrhiza-based Biofertilizer Market Size (2024 to 2029):

The global mycorrhiza-based biofertilizer market size is expected to reach USD 433.09 million in 2024 and reach USD 941.45 million by 2029, growing at a CAGR of 16.8%  from 2024 to 2029.

CURRENT SCENARIO OF THE GLOBAL MYCORRHIZA-BASED BIOFERTILIZER MARKET

The global mycorrhiza-based biofertilizer plants in which this association is observed are corn, carrots, leeks, potatoes, beans, soybeans, other legumes, tomatoes, peppers, onions, garlic, sunflower, strawberries, citrus fruits, apples, peaches, grapes, cotton, coffee, tea, cocoa, sugar cane, forest species, wild plants, and even weeds.

Mycorrhizae are fungi that live in the roots and soil of higher plants. They form an association with the roots of plants in a non-host-specific way. Mycorrhizae is a fungus that establishes a symbiotic association between a fungus and the roots of an avascular host plant. Mycorrhizae is a symbiotic and mutualistic relationship between soil fungi and plant roots. 

Mycorrhiza-based biofertilizer promotes plant growth by enhancing nutrient acquisition and promoting growth hormones. They also increase the resistance in plants against plant pathogens and the surface area of the root system for better absorption of nutrients from the soil. The favorable policies put in place by the government for organic farming are increasing the growth of the global Mycorrhiza-based biofertilizers market. Many governments in developing countries such as India, China, Indonesia, Brazil, etc. encourage the use of Mycorrhiza-based biofertilizers. Recent initiatives by various regional bodies in the establishment of microbial research institutes are stimulating their growth. Mycorrhiza-based biofertilizers are mainly used for their symbiotic nitrogen-fixation capacity which helps to increase nitrogen levels in the soil.

MARKET DRIVERS:

The rapidly growing organic market is driving the growth in this market. The organic food market is growing at a rapid rate, which is creating a high demand for Mycorrhiza-based biofertilizers. This increased consumer awareness of growing health risks and increasing levels of residues in food and other environmental issues has led consumers to prefer food products without chemicals. Biofertilizers and organic fertilizers are in high demand due to the rise of the organic food sector, as they are required for organic farming. The market is driven by increasing food demand and the need for sustainable agricultural development, as well as the remarkable efficacy of using mycorrhizae to grow vital crops and the depletion of phosphorus levels in soils.

MARKET RESTRAINTS:

Mycorrhiza-based biofertilizers have a limited shelf life and pose a high risk of contamination. When exposed to high temperatures, microbes in biofertilizers become non-viable. It is, therefore, very important to keep them in a cool and dry place. The main problem with agricultural inoculation technology is the survival of microorganisms during storage. In addition, the high demand for synthetic fertilizers and the reduced availability of research development and testing laboratories are hampering the growth of the Mycorrhiza-based biofertilizers market. A quality management system is also needed to deliver better microbial products to farmers. Lack of awareness about Mycorrhiza-based biofertilizers in farmers and limited use of Mycorrhiza-based biofertilizers among farmers of underdeveloped and developing countries is expected to restrain the market growth.

Impact Of Covid-19 On The Mycorrhiza-Based Biofertilizer Market:

The Intensity of the impact of COVID-19 on the market is low. The main effect is still on the logistics side, but again the effect is small as governments in several countries allow deliveries to farmers despite numerous closures. The Mycorrhiza-based biofertilizer market can continue its day-to-day activity as the biofertilizer industry has been classified as a core business in most countries due to its link with food production. Therefore, outside of the logistics industry, the impact of COVID-19 on the market is considered negligible. Due to the COVID-19 pandemic, People are becoming increasingly aware of the advantages of organic food products, which has fueled the growth of the Mycorrhiza-based biofertilizer market. These factors have increased retail sales of organic products in many countries, including the United States, Germany, China, Switzerland, and Denmark.

REPORT COVERAGE:

SEGMENTAL ANALYSIS:

Global Mycorrhiza-Based Biofertilizer Market By Form:

The global Mycorrhiza-based biofertilizers market is segmented by form into liquid and carrier-based. The liquids segment accounted for the largest share of the biofertilizer market. Liquid biofertilizer technology is being promoted as a viable alternative to carrier-based biofertilizers. Mycorrhiza-based liquid biofertilizers also have a longer shelf life.

Global Mycorrhiza-Based Biofertilizer Market By Mode Of Application:

The global Mycorrhiza-based biofertilizer market is segmented by mode of application into soil treatment and seed treatment. The seed treatment segment is expected to have the highest annual yields during the forecast period. In seed treatment, Mycorrhiza-based biofertilizers are applied as coatings to the seeds. This is the most common method of applying biofertilizers because it is easy and generally effective under most conditions.

Mycorrhiza-Based Biofertilizer Market By Crop Type:

The global Mycorrhiza-based biofertilizers market is segmented by crop type into Pulses and oilseeds, cereals and grains, fruits and vegetables, and Others. Cereals and cereals represent the dominant crop segment. Mycorrhiza-based biofertilizers are widely used for the efficient production of different grains and cereals, such as wheat, oats, and rice, as they help to improve their performance in poor soil conditions.

REGIONAL ANALYSIS:

The North American market is expected to dominate the market during the forecast period owing to the growing demand for organic products, the growing acceptance of Mycorrhiza-based biofertilizers among rural farmers, and the high adoption of organic farming systems. advanced irrigation such as drip and sprinkler irrigation. for fertigation. Asia-Pacific is the largest market, with the dominant market share. The growing emphasis on organic farming, along with the large population, is the main driver behind the demand for Mycorrhiza-based biofertilizers in the region.

In 2019, Europe was the world's second-largest consumer of Mycorrhiza-based biofertilizers, accounting for 30% of the global Mycorrhiza-based biofertilizers market. Due to the imposition of strict regulations on the use of fertilizers Chemicals in Europe, the use of chemical fertilizers tends to be replaced by organic fertilizers. The Mycorrhiza-based Biofertilizers market in the Middle East and Africa was valued at USD 64.5 million in 2019 and is expected to grow at an annual rate of 6.4% during the forecast period. Due to the availability of large arable land and strong population growth, the Latin American market is expected to grow at the highest annual rate of 13.0% during the forecast period.

KEY PLAYERS IN THE MYCORRHIZA-BASED BIOFERTILIZER MARKET

Major Key Players in the global Mycorrhiza-based biofertilizers market are Novozymes A/S, Rizobacter Argentina SA, Lallemand Inc., Unicrop Biochem, Jaipur Bio-Fertilizers, National Fertilizer Ltd, Green Vision Life Sciences, UPL Limited, Vegalab SA, Chr. Hansen Holding A/S, Kiwa Bio-Tech, T. Stanes & Company Limited, IPL Biologicals Limited, Symborg, Kan Biosys, Mapleton Agri Biotech Pty Ltd, Nutramax Laboratories Inc., Seipasa, Manidharma Biotech Pvt Ltd, Biomax Naturals, AgriLife, Valent BioSciences, Agrinos, Valagro, Varsha Bioscience and Technology India Pvt Ltd., and  Criyagen.

RECENT HAPPENINGS IN THE MYCORRHIZA-BASED BIOFERTILIZER MARKET

• In 2019, UPL Limited bought Arysta LifeScience Inc. for 4.2 billion USD, UPL will benefit from this acquisition as it expands its foothold in Africa, Russia, and Eastern Europe.
• In 2019, Lallemand Plant Care introduced solutions like LALFIX Duo FS for soybean, lentil, and pea spherical granular inoculants, which improve nitrogen fixation, water uptake, and nutrient uptake, boosting the seed's yield genetic potential.

DETAILED SEGMENTATION OF THE GLOBAL MYCORRHIZA-BASED BIOFERTILIZER MARKET INCLUDED IN THIS REPORT

This research report on the global mycorrhiza-based biofertilizer market is segmented and sub-segmented based on form, Mode of Application, Crop Type and Region.

By Form

• Liquid
• Carrier-Based

By Mode Of Application

• Soil Treatment
• Seed Treatment

By Crop Type

• Cereals and Grains
• Pulses and Oilseeds
• Fruits and Vegetables
• Others

By Region

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East And Africa