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Mycorrhizae-based Biofertilizers Market by Type, Mode of Application, Application and Region - Global Forecast to 2027

Mycorrhizae-based Biofertilizers Market by Type, Mode of Application, Application and Region - Global Forecast to 2027

  • November 2022
  • 457 pages
  • ID: 6368579
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

The mycorrhizae-based biofertilizers market is projected to reach USD 1,087 million by 2027 growing at a CAGR of 14.3% from 2022 to 2027. Rising food demand by the ever growing population, the need for sustainable agricultural development due to the detrimental impacts of synthetic fertilizers, increased soil erosion, and eutrophication are facilitating the usage of mycorrhizae-based biofertilizers by farmers to maintain soil fertility and boost crop yield. Mycorrhizal biofertilizer treatment results in 30% reduction of chemical fertilizers, particularly phosphorus fertilizer. These are helpful fungus which forms a symbiotic relationship with plants and roots by providing the needed nutrients to the crops and supporting the plant growth and development thus increasing production.

Mycorrhizae-based biofertilizers have high demand in organic food production.

The organic food market began to thrive a decade ago, and since then, it is only expanding. According to FiBL, sales of organic food and beverages exceeded EUR 106 billion (USD 104.72 billion) in 2019. The US was the world’s largest market by far (42%), followed by the European Union (EUR 41.4 billion/USD 40.9 billion or 39%) and China (EUR 8.5 billion/USD 8.4 billion, 8.0%). Growing public awareness of the adverse repercussions of synthetic chemicals used in food production has helped organic food production in recent years. The organic food business is yet to undergo full-fledged development, given the type of innovation combined with this expanding demand. When weighed against the health advantages of eating organic food, the price difference between organic and inorganic food is negligible. Although organic food may cost higher than conventional, it shields the body from unnecessary pesticide and fertilizer intake. Long-term, this lowers the probability of health risks and avoidable medical costs even more. Organic farming involves extensive use of mycorrhizae-based biofertilizers, and with the growing organic farmland and increasing organic food market, the mycorrhizae-based biofertilizers market is projected to expand exponentially.

Asia Pacific is projected to witness substantial growth during the forecast period in the mycorrhizae-based biofertilizers market.

The growth of mycorrhizae-based biofertilizers in Asia Pacific countries such as China, India, Australia & New Zealand, and Japan is projected to be potential during the forecast period due to the adoption of science-backed, advanced agricultural practices.The Asia Pacific mycorrhizal biofertilizers market is fragmented among multinational companies and numerous small-scale manufacturers that produce biofertilizers for crops cultivated.

Moreover, the government policies focused on encouraging the application of biofertilizers are boosting the growth of the market in the region.In 2021, in China, Yunnan national development released a policy on restricted usage of fertilizers, basic chemical material, coal processing and ferro-alloy smelting industries based on their energy consumption.

As Yunnan is the primary site for phosphate production and with the new policy released the consumers needs to shift towards wet-process phosphoric acid as an alternative. The Indian government has been limiting the application of chemical fertilizers and promoting the usage of biofertilizers through governmental initiatives such as the Paramparagat Krishi Vikas Yojana (PKVY), Mission Organic Value Chain Development for Northeastern Region (MOVCDNER)), and National Food Security Mission (NFSM).

Break-up of Primaries:
• By Company Type: Tier 1 – 45 %, Tier 2- 33%, Tier 3 – 22%
• By Designation: C-level – 45%, D-level – 33%, Others – 22%
• By Region: North America – 10%, Europe – 15%, South America- 13%, Asia Pacific – 50%, RoW –12%

Leading players profiled in this report:
• Premier Tech (Canada)
• UPL Ltd. (India)
• Novozymes A/S (Denmark)
• Helena Agri Enterprises LLC (US)
• Groundwork BioAg (Israel)
• Valent Biosciences (US)
• Lallemand (Canada)

Research Coverage:
The report segments the mycorrhizae-based biofertilizers market on the basis of type, form, application, mode of application, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global mycorrhizae-based biofertilizers market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
• To get a comprehensive overview of the mycorrhizae-based biofertilizers market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions in which the mycorrhizae-based biofertilizers market is flourishing

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