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Biofertilizers Global Market Report 2022

Biofertilizers Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6313409
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the biofertilizers market are Novozymes A/S, CBF China Bio-Fertilizer AG, SOM Phytopharma (India) Limited (AgriLife), Mapleton Agri Biotec Private Ltd, Biomax, Symborg SL, National Fertilizers Ltd, Rizobacter Argentina SA, UPL Limited, T. Stanes & Company Limited, Jaipur Bio Fertilizers, Agrinos Inc, LKB BioFertilizer Sdn Bhd and Varsha Bioscience and Technology India Pvt Ltd.

The global biofertilizers market is expected to grow from $1.65 billion in 2021 to $1.85 billion in 2022 at a compound annual growth rate (CAGR) of 12.39%. The biofertilizers market is expected to grow to $2.91 billion in 2026 at a compound annual growth rate (CAGR) of 11.94%.

The biofertilizers market consists of sales of biofertilizers products by entities (organizations, sole traders, and partnerships) that are used to fix nutrients into the soil making it available to the plant.Biofertilizers are a substance containing living microorganisms that colonize the rhizosphere or inside of the plant and promote development by increasing the supply or availability of primary nutrients to the host plant when applied to seeds, plant surfaces, or soil.

Natural processes like nitrogen fixation, phosphorus solubilization, and the production of growth-promoting compounds are utilized in biofertilizers to offer nutrients to plants.

The main types of biofertilizers are nitrogen fixing, phosphate solubilizing and other products.The nitrogen-fixing refers to the nitrogen-based fertilizer used in agriculture.

The nitrogen-fixing biofertilizers contain microorganisms like actinobacteria, rhizobium, azotobacter, and azospirillum.They aid in the conversion of nitrogen to organic compounds.

One method of converting elemental nitrogen into a form that plants can use is biological nitrogen fixation.Various crop types using biofertilizers are cereals and grains, oilseeds and pulses, fruits and vegetables and other crop types and are given two forms namely liquid and carrier-based.

These have application in seed treatment and soil treatment.

Asia Pacific was the largest region in the biofertilizers market in 2021.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in the biofertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The biofertilizers market research report is one of a series of new reports that provides biofertilizers market statistics, including biofertilizers industry global market size, regional shares, competitors with a biofertilizers market share, detailed biofertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the biofertilizers industry. This biofertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing concern for food safety is expected to driving the growth of the biofertilizers market.The right food handling practices used throughout food preparation, processing, storage, and distribution of the items in the food business are referred to as food safety.

All aspects of the food supply chain are concerned about the integrity of food safety.From agriculture to final product packaging and delivery to the consumer’s table, the food manufacturing life cycle is a source of concern.

The rising concern for food safety calls for food production with maximum output which in turn demands a need for biofertilizers to promote higher growth of food plants.For instance, in November 2020, an annual poll found that global concern over food safety and future food supplies has increased.

The United States was one of nine countries that took part in the study. Concerns regarding food safety and future food supply have increased by 10% as per the 13th edition of the Tetra Pak Index, with 40% of respondents rating these themes among their top three most concerning issues, up from 30% in 2019. Moreover, half of those polled feel that manufacturers are responsible for improving food safety, followed by governments. In France, six out of ten people are concerned about the sanitary and safety of the food they purchase. Three-quarters of Chinese people are worried about how food and beverages are produced. Eight out of ten Nigerians want producers to prioritize food safety. Therefore, the increasing concern for food safety is driving the market for biofertilizers.

Product innovation is a key trend gaining popularity in the biofertilizers market.The key players operating in the biofertilizers market are developing innovative products for crops to grow stronger and show greater tolerance to stress.

The innovation in biofertilizers enables the players to establish their product portfolio, earn additional revenue, capture more market share, and hold a competitive edge in the market.For instance, in June 2021, Symborg, a Spanish company involved in the research and development of bio-fertilizers used in advanced agricultural processes, introduced Qlimax, an innovative soil energizer that serves as a prebiotic.

Its use multiplies the concentration of microbial flora in the soil, stimulating its development and enhancing its positive activity in the agronomic management of soil and crops.Furthermore, in May 2021, Rizobacter, an Argentine producer of microbiological products intended to provide innovative solutions for sustainable agriculture, launched Microstar BIO, a new specialty fertilizer line that combines biologicals with chemical fertilizer.

A variety of several Bacillus strains are used in this innovative technology’s biological component. These integrated bacteria can solubilize minerals and drive root growth, improving nutrient usage efficiency by boosting availability and soil exploration.

In January 2021, Lallemand Inc., a Canada-based company through its subsidiary, Danstar Ferment AG announced the acquisition of Biotec BetaGlucans AS (BBG), which is a wholly owned subsidiary of the ArticZymes Technologies ASA (AZT) company, for an undisclosed amount. Through this deal, Lallemand will acquire all of the BBG assets and includes food grade and specialized pharma certified production plant located in Tromsø, Northern Norway and also all the IP’s for SBG®, Woulgan®, M-Gard® and M-Glucan® branded product portfolios. BBG is a Norway-based company and a subsidiary of ArticZymes Technologies ASA which is specialized in the development, production and sales of high purity beta-glucan products, from yeast cell walls as a biofertilizer.

The countries covered in the biofertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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