Global biofertilizers market is expected to reach USD 1.65 billion by
2022, according to a new study by Grand View Research, Inc. The industry is
expected to witness significant gains over the next seven years owing to rising
need for feasible eco-friendly solution for plant and soil growth.
Emergence as drop in replacements
for chemical fertilizers on account of environment friendly properties and
similar applications is expected to promote growth. Stringent regulations
coupled with government initiatives supporting biofertilizers use is a primary
reason for perpetuating growth over the past few years.
Favorable government support for
use of eco-friendly products and increasing production output of organic foods
is expected to augment market growth in North America and Europe over the
forecast period.
Fluctuating chemical prices
coupled with commercial response to growing food cost is expected to be one of
the key drivers for the market over the next seven years. Growing need for high
agricultural yield in order to meet increasing population needs has triggered
products use on account of low environmental impact.
Browse full research report on Global
Biofertilizers Market: http://www.grandviewresearch.com/industry-analysis/biofertilizers-industry
Further key findings from the
study suggest:
- Phosphate solubilizing biofertilizers market is expected to grow at the fastest CAGR of 13.9% from 2015 to 2022. These include bacillus, pseudomonas and aspergillums bacteria which provide phosphorous macronutrients to plants. Soluble bacteria in the product impart superior characteristics and are the key reason for high growth expectation over the forecast period.
- Soil treatment accounted for over 30.0% of global market revenue in 2014 and is expected to grow at a CAGR of 13.0% from 2015 to 2022. Rising awareness towards deployment of eco-friendly products for increasing crop yield is expected to augment product demand.
- North America biofertilizers market was the largest in terms of revenue accounting for over 32.0% in 2014 on account of numerous manufacturers in the region. Positive agriculture industry outlook in the U.S. and Canada along with increasing awareness regarding the application of eco-friendly products in farming is expected to have favorable impact for biofertilizers market.
- Some of the key biofertilizer manufacturers include CBF China Bio-fertilizer AG, Novozymes A/S, Antibiotice S.A, AgriLife, and Symborg S.L. In January 2011, CBF China Bio-fertilizer built a new production line in the Shandong plant with an additional capacity of 10,000 tons. Novozymes’ new enzyme technology is known to produce high yields of corn oil and ethanol along with energy savings during production.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has segmented the global biofertilizers
market on the basis of product, application and region:
Biofertilizers Product Outlook (Revenue, USD Million,
2012 - 2022)
- Nitrogen fixing
- Phosphate solubilizing
- Others
Biofertilizers Application Outlook (Revenue, USD Million,
2012 - 2022)
- Seed Treatment
- Soil Treatment
Biofertilizers Regional Outlook (Revenue, USD Million,
2012 - 2022)
- North America
- U.S.
- Canada
- Europe
- France
- Spain
- Asia Pacific
- China
- India
- Latin America
- Brazil
- MEA
- Egypt
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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