Market Research Report
Global Biofertilizers Market 2020-2026
|Published by||Orion Market Research Pvt Ltd||Product code||949472|
Delivery time: 2-3 business days
|Global Biofertilizers Market 2020-2026|
|Published: May 29, 2020||Content info:||
Global Biofertilizers Market Size, Share & Trends Analysis Report, By Type (Nitrogen Fixing, Phosphate Solubilizing, and Others), By Crop Type (Cereals and Grains, Oil Seeds and Pulses, Fruits and Vegetables, and Others), By Application (Soil Treatment and Seed Treatment) and Forecast, 2020-2026
The global biofertilizers market is estimated to witness significant growth during the forecast period. Increasing demand for organic food and the harmful effects of chemical fertilizers are some crucial factors encouraging market growth. Chemical fertilizers have been used for several years to enhance crop production. However, it has several harmful effects which include increased air pollution, waterway pollution, chemical burn to crops, mineral depletion of the soil, and soil acidification. Chemical fertilizers have found considerable nutrient content including nitrogen and overuse of these fertilizers to plants may result in leaves to turn brown or yellow, which damages the plant and minimizing crop yield. This, in turn, results in the emerging demand for biofertilizers for sustainable farming and enhance soil texture and structure.
Geographically, the global biofertilizers market is classified into North America, Europe, Asia-Pacific, and Rest of the World. Europe is expected to grow significantly in the market owing to the increasing organic farming practices in the region. North America is anticipated to witness potential growth during the forecast period owing to the increasing number of organic farms in these regions. As per the US Department of Agriculture's (USDA) National Agricultural Statistics Service (NASS), in 2016, the number of organic farms in the US grew 11% to 14,217 and the number of certified acres grew 15% to 5 million. This has led owing to the increasing demand for organic commodities in the country.
Some key players in the market include Novozymes A/S, Bayer AG, Kiwa Bio-Tech Products Group Corp., Agrinos, and National Fertilizers Ltd. Mergers and acquisitions, product launches, and partnerships and collaborations are considered as key strategies adopted by the market players to accelerate their market share. For instance, in June 2018, Bayer AG acquired Monsanto, one of the major US-based biotech companies. The Monsanto acquisition will enable Bayer to increase its share in agriculture with a comprehensive portfolio, offering superior product offerings and customized solutions to farmers for all crops, in all geographies.
The market study of the global biofertilizers market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: