- Opportunity and Forecast, 2016-2025
Biofertilizers comprise living microorganisms, which provide nutrients to plant or soil. These are added through natural process of solubilizing phosphorus, nitrogen fixation, and stimulating growth through the synthesis of growth-promoting substances. Biofertilizers are economical and offer better protection against drought while also improving the soil fertility as compared to chemical fertilizers.
Moreover, increase in organic food demand, rise in environmental awareness, and favorable regulatory policies have catalyzed the market growth. Likewise, the shift toward bio-based alternatives, lower carbon emissions, and the growth in consciousness to reduce dependency on petroleum products are anticipated to supplement the growth of this industry. However, high demands for synthetic fertilizer could limit the market. Nevertheless, monetary support from government has paved new avenues for this industry.
The global biofertilizers industry is segmented on the basis of products, applications, and geography. Products covered in the report include nitrogen fixation, phosphate solubilizing, and others. By application, seed treatment and soil treatment are two major domains analyzed in the research. Geographically, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
Key manufacturers operating in the global biofertilizers market include Novozymes, CBF China Biofertilizers AG, Biomax, AgriLife, Antibiotice, Mapleton Agribiotec, and Symborg. Commonly adopted strategies include expansion, partnerships, merger & acquisition, new product launches, joint ventures, and collaborations.
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