PUBLISHER: 360iResearch | PRODUCT CODE: 1471400
PUBLISHER: 360iResearch | PRODUCT CODE: 1471400
[186 Pages Report] The Mycorrhizae-Based Biofertilizers Market size was estimated at USD 671.96 million in 2023 and expected to reach USD 760.59 million in 2024, at a CAGR 13.64% to reach USD 1,645.30 million by 2030.
Mycorrhizae-based biofertilizers are a form of sustainable agricultural solution that utilizes the symbiotic relationship between soil fungi, known as mycorrhizal fungi, and the roots of plants. By extending the plant's root system, mycorrhizae heighten the uptake of essential nutrients, including phosphorus and nitrogen, enhancing plant growth and productivity. Mycorrhizal fungi improve a plant's water-use efficiency, thereby increasing its ability to withstand drought conditions. Increasing agricultural awareness, the escalating necessity for sustainability, and issues related to food security have accelerated the adoption of mycorrhizae-based biofertilizers. Understanding of the long-term deleterious effects engendered by chemical fertilizers have resulted in an increased uptake of bio-fertilizers. However, high cost of production and lack of awareness in several regions might hamper widespread adoption. Continual advancements in biotechnology and growing governmental support will undoubtedly fortify this expansion, offering high-yielding and environmentally friendly solutions within the agricultural industry. Market players are working on introducing new solutions that can further improve soil fertility, plant nutrient accessibility, and agricultural productivity.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 671.96 million |
Estimated Year [2024] | USD 760.59 million |
Forecast Year [2030] | USD 1,645.30 million |
CAGR (%) | 13.64% |
Type: Potential of endomycorrhizae to offer nutrients to a greater range of plants
Ectomycorrhizae are characterized by the formation of a sheath, or mantle, that envelopes the root tip of the plant and a Hartig net, a network of hyphae that extends into the root cortex without penetrating the cell walls. This biofertilizer exhibits an association with woody plants, primarily conifers and deciduous trees such as pines and oaks. Utilizing ectomycorrhizae as biofertilizers can accelerate the plant's capacity for phosphorus and nitrogen absorption, two nutrients critical for plant growth. Additionally, they enhance the plant's resistance to diseases and harsh environmental conditions by fortifying the plant's access to water and nutrients in the soil. However, the plant species with which ectomycorrhizae can associate are relatively limited in comparison to endomycorrhizae. Unlike ectomycorrhizae, endomycorrhizae, also known as arbuscular mycorrhizae, penetrate the cell wall to create a highly efficient pathway for nutrient exchange between the plant and the soil. They recently emerged as an intriguing solution to improve soil richness by enhancing its nutrient cycling and structure. They primarily aid the plant in uptaking phosphorus; however, they are also influential in the absorption of other microelements such as zinc and copper.
Form: Preference for liquid fertilizers owing to their strong absorption capabilities
Liquid mycorrhizae-based biofertilizers offer a convenient application method as they can be easily mixed with water and applied directly to plant roots or sprayed on the soil surface. They have the advantage of fast absorption into the soil matrix due to their liquid nature, facilitating rapid initiation of symbiotic associations with plant roots. These fertilizers are often preferred for their ease of handling and storage, reduced risk of contamination, and effective utilization in drip irrigation systems. However, they may require special handling because they can be sensitive to heat and cold extremes. Additionally, the dosage needs to be precise, making it slightly more demanding for manual applications. Solid mycorrhizae-based biofertilizers, usually presented in granular or powder form, are designed for more long-term fertilizer programs. They are lauded for their extended shelf life and stability in varying environmental conditions. These fertilizers are typically mixed with soil or compost before planting, helping to establish a strong fungal network around the root zone.
Application: Increased yield and quality of crop produce in agriculture with mycorrhizae-based biofertilizers
In agriculture, mycorrhizae-based biofertilizers significantly contribute to promoting sustainable farming practices. These biofertilizers have been proven to minimize reliance on chemical fertilizers by augmenting plant nutrient absorption. The mycorrhizae and plant roots form a symbiotic association, enabling plants to access essential nutrients and water present in the soil more efficiently. This results in increased yield and quality of agricultural produce. Additionally, the use of Mycorrhizae-Based Biofertilizers also contributes to soil health by enhancing soil structure and fertility. They are also known to foster increased resilience in plants against various soil-borne diseases and stress conditions. Hence, their application has become a critical part of sustainable and organic agriculture worldwide. Forestry, landscaping, and horticulture are some areas where these biofertilizers find prominent use. In forestry, mycorrhizae-based biofertilizers assist in plantation and reforestation efforts as they enhance seedling survival rates by promoting root development and nutrient absorption. Similarly, in landscaping and horticulture, these biofertilizers contribute to plant growth and maintenance by enabling better nutrient uptake, thereby resulting in improved plant aesthetics and health. These biofertilizers also play a critical role in the process of bioremediation, a technique used to treat and reclaim contaminated soils. They help in the stabilization of soils and the removal of pollutants, rendering them safe for plant growth and habitation.
Distribution Channel: Wider availability and accessibility of Mycorrhizae-based biofertilizers through online channels
Online distribution channels are becoming an increasingly important way to distribute mycorrhizae-based biofertilizers. Through digital platforms, manufacturers and distributors can cater to a global audience with potentially fewer limitations compared to more traditional routes. Various agricultural eCommerce platforms feature Mycorrhizae-based biofertilizers from different manufacturers, allowing users to compare products based on price, reviews, and specifications. Moreover, many manufacturers and distributors maintain their own websites, where they not only sell their products but also provide a wealth of information about the product, including its benefits, application procedures, and research studies supporting its usefulness. The offline distribution channel continues to hold significant relevance in the distribution of mycorrhizae-based biofertilizers. Typically, this involves the process of selling biofertilizers through brick-and-mortar outlets such as farming supply stores, gardening centers, or cooperative societies. Manufacturers often rely on wholesalers and distributors who take the responsibility of storing, transporting, and selling the biofertilizers to retailers. Manufacturers may also engage in direct marketing strategies through attending agricultural trade shows and expos or by directly reaching out to farms and agricultural businesses. Both direct store purchases and personal references continue to be vital within rural communities and among farmers where digital literacy may still be low. Here, trust in familiar faces, firsthand product inspection, and immediate availability are key factors benefiting the offline sales of Mycorrhizae-based biofertilizers.
Regional Insights
In the Americas, the use of mycorrhizae-based biofertilizers is considerable due to technological advancements and an increasing awareness of the importance of sustainable farming. USA-based companies represent a major portion of biofertilizer production, contributing significantly to the global supply. Despite high production capacity, significant imports from Canada, particularly of Glomus intraradices species, demonstrate the region's robust demand. Asia stands as the fastest-growing region for mycorrhizae-based biofertilizers, with China and India being major producers. Governmental incentives to reduce chemical fertilizer usage, the growing population, and the need to boost agricultural productivity fuel its usage. Major players are investing heavily in research and development, promoting the production and application of these biofertilizers. European countries show a keen interest in organic farming practices, elevating the demand for mycorrhizae-based biofertilizers. Companies in the region are offering a variety of specialized mycorrhizal products to cater to region-specific demands. Middle East & Africa demonstrates a moderate deployment of mycorrhizae-based biofertilizers and its awareness is gradually increasing, spearheaded by South Africa and Israel. Local companies are investing in technologies to enhance the use and production of these biofertilizers, aiming for sustainable, climate-resilient agriculture.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Mycorrhizae-Based Biofertilizers Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Mycorrhizae-Based Biofertilizers Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Mycorrhizae-Based Biofertilizers Market, highlighting leading vendors and their innovative profiles. These include Agri Life, Asfertglobal, Lda., Atens, Biostadt India Limited, Corteva Agriscience, Farmadil India LLP, FMC Corporation, Groundwork BioAg Ltd., Helena Agri-Enterprises, LLC, Indogulf BioAg LLC, JH Biotech, Inc., Koppert, Lallemand Inc., Mycoroot (Pty) Ltd, Neologie Bio Innovations I Private Limited, Novozymes A/S, Peptech Biosciences Ltd., Phms Technocare Private Limited, Plant Health Care PLC, Privi Life Sciences Pvt Ltd, Real IPM Kenya Ltd., T.Stanes and Company Limited, UPL Ltd., and Valent BioSciences Corporation.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Mycorrhizae-Based Biofertilizers Market?
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3. What are the technology trends and regulatory frameworks in the Mycorrhizae-Based Biofertilizers Market?
4. What is the market share of the leading vendors in the Mycorrhizae-Based Biofertilizers Market?
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