Biofertilizers Market Analysis, Business Opportunities & Growth Forecast by 2024
Date: 2018-12-18   Author: Rahul Sankrityayan  Category: #news

Biofertilizers Market Analysis, Business Opportunities & Growth Forecast by 2024

According to a new research report by Global Market Insights, Inc.; the Biofertilizers Market size will exceed USD 3 billion by 2024.

Strong demand outlook in the overall agrochemicals industry along with rising adoption for bio based plant growth enhancers will drive the biofertilizers market. Decrease in arable land availability due to excessive synthetic fertilizer consumption will facilitate biofertilizers penetration.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/112

Rising consumer preference for organic food and widespread health awareness trends are key factors driving industry growth. Strong EU regulatory compliances to curb toxic growth enhancers usage and introducing policies offering 30% subsidy to farmers to promote sustainable farming will fuel demand.

R&D to improve plant productivity will facilitate the industry growth. Ease in product registration, less capital-intensive production process, and shifting farming trends for bio inputs are factors attracting manufacturers to invest in biofertilizers.

Nitrogen-fixing dominated the product segment and generated over USD 1 billion in revenue for 2016. Enhancing soil fertility and increase in farm yield up to 15% are key properties propelled the product demand.

Phosphate-solubilizing will witness significant growth over 12% up to 2024. Increased product consumption for cereals & grains and pulse & oilseeds due to their anti-fungal properties will drive the demand.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/112

Large availability of synthetic fertilizers at competitive price coupled with lack of awareness among farmers may restrain market expansion. Organic farming education among farmers and low biofertilizers market price trend will be among the key strategies to drive industry growth.

Cereals & grains accounted for more than 40% of the global biofertilizers market share in 2016. Being a staple crop in the world along with rise in consumer preference towards high nutrient grains will drive product penetration.

Fruits & vegetables will witness growth over 12% through to 2024. The product is used to improve the protein percentage and enhances the fruit plumpness. Shift in consumer preference for organic fruits & vegetables will fuel business growth.

Seed treatment dominated the application segment and valued at over USD 1.2 billion in 2016. Protection from soil-borne diseases and improving seed germination are the key properties enhancing demand.

Soil treatment will witness over 11% CAGR up to 2024. Necessity to maintain salt content and salinity level of soil will play a key role in stimulating product demand.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/biofertilizers-market

Dry formulation biofertilizers accounted for more than 70% of the overall industry demand in 2016. Easy handling along with wide availability at competitive prices have encouraged product penetration. Liquid formulations will witness fastest growth over 12% up to 2024. Longer shelf life and easy storage are the key properties driving growth.

North America biofertilizers market catered over 40% of the global demand in 2016. Stringent regulations on chemical fertilizers usage along with increasing consumer spending on organic food will drive the regional industry growth.

China biofertilizers market will witness over 12% CAGR up to 2024. Inclination towards healthy lifestyle along with increase in farming expenditure will drive the industry growth. Favorable regulations coupled with subsidies on bio based products are the factors positively influencing demand.

Global industry share includes Novozymes, National Fertilizers, Rizobacter Argentina, Camson Bio Technologies, Nutramax Laboratories, CBF China, AgriLife, Biomax, Symborg Labiofam, Antibiotice and Mapleton Agribiotec.



About Author


Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

Read More

More from Rahul


Post Recommendents

Grab to charge fee for ride cancellation in Malaysia from March 25
Author: Pankaj Singh

Reports confirm that from March 25 this year, Grab Malaysia would begin charging its passengers a fee for canceling rides and also those who are late to their hired cab, after a specific permitted time.


NII sells Nextel Brazil’s operation to America Movil for $905 million
Author: Paroma Bhattacharya

Latin American carrier America Movil has reportedly announced that it would acquire NII-owned Nextel Brazil for $905 million. Once the deal is closed, NII will receive approval to dissolve and wind up, stated sources.<...


Toyota and Nvidia to expand partnership for autonomous car technology
Author: Pankaj Singh

Reports indicate that Toyota Motor Corp. is expanding its relationship with Nvidia, as the automaker and its research units based in Japan and the U.S. look to speed up its autonomous vehicle development program.

...