A biofertilizer is a substance which contains living micro-organisms which, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant.[1] Biofertilizers add nutrients through the natural processes of nitrogen fixation, solubilizing phosphorus, and stimulating plant growth through the synthesis of growth-promoting substances. The micro-organisms in biofertilizers restore the soil's natural nutrient cycle and build soil organic matter. Through the use of biofertilizers, healthy plants can be grown, while enhancing the sustainability and the health of the soil. Biofertilizers can be expected to reduce the use of synthetic fertilizers and pesticides, but they are not yet able to replace their use. Since they play several roles, a preferred scientific term for such beneficial bacteria is "plant-growth promoting rhizobacteria" (PGPR)
Market Analysis and Insights: Global Biofertilizer Product Market
Due to the COVID-19 pandemic, the global Biofertilizer Product market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Nitrogen Fixing Microbes accounting for % of the Biofertilizer Product global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Cereals and Grains segment is altered to an % CAGR throughout this forecast period.
North America Biofertilizer Product market is estimated at US$ million in 2021, while Europe is forecast to reach US$ million by 2028. The proportion of the North America is % in 2021, while Europe percentage is %, and it is predicted that Europe share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
The global major manufacturers of Biofertilizer Product include Novozymes A/S, Vegalab SA, UPL Limited, Chr.Hansen Holding A/S, Kiwa Bio-Tech, Lallemand Inc, Rizobacter Argentina SA, T. Stanes & Company Limited and IPL Biologicals Limited, etc. In terms of revenue, the global 3 largest players have a % market share of Biofertilizer Product in 2021.
Global Biofertilizer Product Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Biofertilizer Product Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Nitrogen Fixing Microbes
Phosphate Solublizing and Mobilizing Microbes
Potassium Solublizing and Mobilizing Microbes
Others
Segment by Application
Cereals and Grains
Pulses and Oilseeds
Fruits and Vegetables
Other
By Company
Novozymes A/S
Vegalab SA
UPL Limited
Chr.Hansen Holding A/S
Kiwa Bio-Tech
Lallemand Inc
Rizobacter Argentina SA
T. Stanes & Company Limited
IPL Biologicals Limited
Nutramax Laboratories Inc
Symborg
Kan Biosys
Mapleton Agri Biotech Pty Ltd
Seipasa
AgriLife
Manidharma Biotech Pvt Ltd
Biomax Naturals
Jaipur Bio Fertilizers
Valent BioSciences
Aumgene Biosciences
Agrinos
Criyagen
LKB BioFertilizer
Varsha Bioscience and Technology India Pvt Ltd
Valagro
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Colombia