According to a new market report by Lucintel, the future of the biofertilizer market looks promising with opportunities in the seed treatment and soil treatment applications. The biofertilizer market is expected to grow with a CAGR of 14% from 2019 to 2024. The major drivers for this market are rise in demand for organic foods among the health conscious population and growing adoption of advanced and sophisticated technologies by farmers to increase arable land.
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In this market, rhizobium, azotobacter, azospirillum, cyanobacteria, and phosphate-solubilizing bacteria are the major microorganism in the biofertilizer. On the basis of comprehensive research, cyanobacteria will remain the largest segment over the forecast due to low input cost, increase the bioavailability of phosphorus, and help in nutrient cycling as well as nitrogen fixation.
Within this market, biofertilizer for fruits and vegetables will remain the largest segment during the forecast period due to increasing trend of consumer preferences for organic fruits & vegetables. Biofertilizer also improves the quality, shelf-life, and yield of fruits & vegetables.
North America will remain the largest market due to increased use of bio-based crop nutrition products and rising food quality standards.
Bayer, Novozymes, National Fertilizers Limited, Kiwa biotech, Lallemand Inc., Madras Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd. , Rizobacter Argentina S.A., T.Stanes & Company Limited, Camson Bio Technologies Limited , Rashtriya Chemicals & Fertilizers Ltd., and Nutramax Laboratories Inc. are among the major manufacturers of biofertilizers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the biofertilizer market by form, microorganism, crop type, mode of application, and region. Lucintel has prepared a comprehensive research report titled "Biofertilizer Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the biofertilizer market by form, crop type, microorganism, mode of application, and region as follows:
By Form [$M shipment analysis for 2013 – 2024]:
Pure & mixed liquid fermentations
Dispersible granule
Pellet
Powder
By Microorganism [$M shipment analysis for 2013 – 2024]:
Rhizobium
Azotobacter
Azospirillum
Cyanobacteria
Phosphate-solubilizing bacteria
Others (nostoc, anabaena, tolypothrix, aulosira, and azolla)
By Crop Type [$M shipment analysis for 2013 – 2024]:
Cereals & grains
Pulses & oilseeds
Fruits & vegetables
Others (turf & ornamentals, plantation crops, fiber crops, and silage & forage crops)
By Mode of Application [$M shipment analysis for 2013 – 2024]:
Seed treatment
Soil treatment
Others (set treatment, foliar treatment, root dipping, and seedling root treatment)
By Region [$M shipment analysis for 2013 – 2024]:
North America
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Indonesia
Rest of Asia Pacific
ROW
Brazil
Argentina
Saudi Arabia
Others
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/biofertilizer-market.aspx or helpdesk@lucintel.com.
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