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.
U.S.
biofertilizers market revenue by product, 2012-2022 (USD Million)
|
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.
In depth research report on Biofertilizers Market
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.
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
o U.S.
o Canada
·
Europe
o France
o Spain
·
Asia Pacific
o China
o India
·
Latin America
o Brazil
·
MEA
o Egypt
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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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis
reports, please visit: http://www.grandviewresearch.com/
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