Industry Background:
Biofertilizers are defined as substances comprising living microbes, which when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients. Moreover, inoculants that provide nutrients to plants are considered as biofertilizers in this report. The report provides an in-depth analysis of the various parameters of the global biofertilizers market.
According to AMA Research, the market for Bio-organic Fertilizer is expected to register a CAGR of 11.6% during the forecast period to 2028. This growth is primarily driven by Growth in The Organic Food Industry
.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Agricultural Products sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Novozymes (Denmark), T Stanes & Company Ltd (India), SOM Phytopharma (India), Ltd International Panaacea Limited (India), Kan Biosys (India), Kiwa Biotech (China), Symborg (Spain), Madras Fertilizers Limited (India), Gujarat State Fertilizers & Chemicals Ltd (India), Lallemand Inc. (Canada) and National Fertilizers Limited (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2019, Novozymes (Denmark) announced plans to continue its research and distribution partnership with Bayer (Germany), where Novozymes could form multi-partnership with UPL (India) and Univar Solutions (US) to distribute its biological products. and In July 2018, Rizobacter Argentina (Argentina) registered an inoculant for chickpea. This product would help to increase the potential pulses market of Europe and India.
In April 2023, ag-tech company Zuari FarmHub partnered with bio-solutions leader Novozymes South Asia to launch Poorna Advanced, a 100% water-soluble fertilizer with innovative LCO accelerator technology. The technology acts as a signaling pathway between the plant and beneficial microbes in the soil near the plant's roots. Thereby promoting a healthy root zone, enhancing nutrient uptake, and improving crop resilience.The market is highly fragmented, with many small and large players present across different geographical regions. The global biofertilizers market being unregulated is the reason why there are many small companies in the market. Once proper regulations are put in place, it is likely that the market will be consolidated among a few companies.
Influencing Trend:
Initiatives by Government Agencies and Increasing Awareness About the Need for Sustainability in Modern Agriculture and Need for Improving Soil Organic Matter
Market Growth Drivers:
Growth in The Organic Food Industry, Increased Practice of Organic Farming and Favorable Regulatory Structure
Challenges:
Lack of Awareness & Low Adoption Rate of Biofertilizers and Supply of Counterfeit and Less-Effective Products
Restraints:
Environmental and Technological Constraints and Poor Infrastructure & High Initial Investment
Opportunities:
New Target Markets: Asia Pacific & Africa
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bio-organic Fertilizer Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bio-organic Fertilizer Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bio-organic Fertilizer players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bio-organic Fertilizer Study Sheds Light on
The Bio-organic Fertilizer Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bio-organic Fertilizer industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bio-organic Fertilizer industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.