Bio-Fertilizers Market is anticipated to exceed USD 3.27 billion by 2030 from USD 1.65 billion in 2019 at a CAGR of 12.94% throughout the forecast period, i.e., 2020-30. 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 the health and the environment. Improving the yield of the soil, food safety, increased supply of nutrients, rising demand for food from 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.
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, 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.
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- Novozymes A/S
- Lallemand Inc.
- Symborg SL
- National Fertilizers Limited
- Kimitec Group
- Mapleton Agri Biotech Ltd.
- Biomax Naturals
Global Bio-Fertilizers Market: Segments
Nitrogen-fixing Bio-Fertilizers to capture significant market share
Based on the type of Bio-Fertilizers, the market is categorized into nitrogen-fixing Bio-Fertilizers and phosphate-solubilising Bio-Fertilizers. The nitrogen-fixing segment accounted for a major market share in 2019 and is anticipated to grow at a CAGR 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.
Bio-Fertilizers are being widely demanded soil treatment
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.
Liquid Bio-Fertilizers to register highest CAGR during the forecast period
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 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 requirement of Cereals and Grains for increased nutritional value to push the demand for Bio-Fertilizers
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 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.
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Global Bio-Fertilizers Market: Market Dynamics
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 amid 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.
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Global Bio-Fertilizers Market Report also contains an analysis of:
Bio-Fertilizers Market by segment:
- By Type
- Nitrogen-fixing Bio-Fertilizers
- By Application
- Soil Treatment
- Seed Treatment
- By Form
- By Crop Type
- Fruits & Vegetables
- Pulses & Oilseeds
- Cereals & Grains
- By Region
- North America
- Latin America
- Middle east and Africa
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