Bio Fertilizers Market Scope
A bio-fertilizer is a fertilizer that is applied to seeds, plants surfaces, soil or interior of the plant for promoting growth of the plant. Bio-fertilizer name itself says that it contains living microorganisms. These fertilizers are exceedingly beneficial in enriching soil fertility and fulfilling plant nutrient requirements by supplying the organic nutrients through microorganism and their by-products. Due to this, bio fertilizers are completely free from chemicals and do not harm plants or soil in any way. Bio-fertilizers are considered to be very eco-friendly agro-product, hence demand for bio fertilizers is increasing day-by-day. There are two types of important bio-fertilizers group that are Azolla-Anabena symbiosis and Rhizobium.
According to AMA, the Global Bio Fertilizers market is expected to see growth rate of 20.3%Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Bio Fertilizers market throughout the predicted period.
Novozymes (Denmark), National Fertilizers (India), Madras Fertilizers (India), Gujarat State Fertilizers & Chemicals (India), Rizobacter (India), T.Stanes (India), Camson Bio Technologies (India), Rashtriya Chemicals & Fertilizers (India), Lallemand (India), Nutramax Laboratories (United States) and Biomax (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Symborg (Spain), Ajay Bio-Tech (India), AgriLife (India) and CBF China Bio-Fertilizer (China).
Segmentation Overview
The study have segmented the market of Global Bio Fertilizers market by Type (Nitrogen-Fixing and Phosphate-Solubilizing), by Application (Seed Treatment and Soil Treatment) and Region with country level break-up.
On the basis of geography, the market of Bio Fertilizers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Focus towards organic products i.e. more eco-friendly product, Government initiatives to spread awareness regarding ecological products and Rising number of organizations promoting integrated pest management techniques
Market Growth Drivers:
Increasing need of food supply to meet the demand of growing population, Rising cases of crop loss owing to insect and pest attacks, Increasing farmers attention towards enhancing crop yield and Increasing purchasing power of consumers
Restraints:
Hazardous impacts of bio-fertilizers that includes decrements in soil fertility, may result in hardened soil and release of harmful greenhouse gases and sometimes pollutes air & water
Opportunities:
High investments by major players, Government support through providing subsidized products the farmers, Technological advancements in the field of agriculture, Expansion in the local market and widespread dealer channel and Stringent regulations against the use of other harmful products
Regulatory body FAO deals in forming of fertilizer laws and regulations regarding fertilizers production, import or trade. Additionally, all imports of fertilizers should obey the standards enforced by the Tanzania Fertilizer Regulatory Authority (TFRA)
Key Target Audience
Manufacturer, Raw material supplier, Distributors/traders/dealers, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.