Global Biofertilizers Market to Reach $3 Billion by 2024 – PRNewswire

global-biofertilizers-market-to-reach-$3-billion-by-2024-–-prnewswire

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SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Biofertilizers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Biofertilizers Market

FACTS AT A GLANCEEdition:  7; Released:  May 2021Executive Pool:  362Companies:  56 - Players covered include Agri Life; Agrinos AS; Ajay Bio-Tech (India) Ltd.; China Bio-Fertilizer Group; EuroChem Agro GmbH; Gujarat State Fertilizers & Chemicals Limited; Kan Biosys Pvt. Ltd.; Kiwa Bio-Tech Products Group Corporation; Lallemand Inc.; Madras Fertilizers Limited; Mapleton Agri Biotec Pty Ltd.; National Fertilizer Ltd.; Rizobacter Argentina S.A.; Symborg; Syngenta AG and Others.Coverage:  All major geographies and key segmentsSegments:  Product Type (Nitrogen Fixing, Phosphate Solubilizers, and Other Product Types); Crop Type (Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, and Other Crop Types); Application (Seed Treatment, Soil Treatment, and Other Applications)Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Rest of Europe; Asia-Pacific; Latin America; Rest of World

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ABSTRACT-Global Biofertilizers Market to Reach $3 Billion by 2024Biofertilizers are used for enhancing soil fertility to increase crop yield. The micro-organisms-containing substances help soil regain its lost nutrients. Living microorganisms in biofertilizers supply the required organic matter and nutrients to soil which are absorbed by the crops. They are also a cost-effective and efficient alternative to inorganic chemical fertilizers that are harmful to environment as well as human health. Growing concerns over food safety are spurring the use of biofertilizers. Amid the COVID-19 crisis, the global market for Biofertilizers is projected to reach US$3 Billion by 2024, registering a compounded annual growth rate (CAGR) of 10.9% over the analysis period. United States represents the largest regional market for Biofertilizers, accounting for an estimated 28.8% share of the global total. The market is projected to reach US$1 Billion by the close of the analysis period. The United States is forecast to emerge as the fastest growing regional market with a CAGR of 12.1% over the analysis periodDemand for biofertilizers is increasing because of the general rise in agricultural products need owing to fast growing global population. Increasing awareness about environmental protection and rapidly growing organic food demand also support strong market growth. Growing penchant among agriculturists to adopt more sophisticated technologies for improving overall productivity of crops is also creating strong growth opportunities for biofertilizers. Governments across the world are promoting biofertilizers usage through various grants and subsidies. In EU countries, the Common Agricultural Policy encourages use of biological products and organic farming. Training programs are also being organized for educating farmers in the area of usage and motivating them to adopt biofertilizers in place of chemical fertilizers. The market in North America is anticipated to witness strong growth in biofertilizers demand in the coming years owing to the several bans being imposed on harmful chemical-based fertilizer usage in agriculture because of the many adverse impacts on the ecology observed. In the Asia-Pacific, fast rising population and the need for more sustainably grown food products and the rising focus on organic products constitute the factors promoting biofertilizers market growth.The market for seed treatment is forecast to emerge as the dominant application of biofertilizers over the analysis period. When seeds are treated with biofertilizers they are able to better sustain virus and bacterial attacks and it also results in increased crop yield. Treated seeds are able to better harness atmospheric nitrogen which is in turn made available to plants. The seeds are also able to enhance soil phosphorous content by way of solubilizing and enhancing its availability. Seed treatment also protects seeds from insects and pathogens and promotes early growth of plants. The growing trend of agriculturists using more of treated seeds is anticipated to fuel biofertilizers market growth. MoreMarketGlass™ PlatformOur MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or AndroidAbout Global Industry Analysts, Inc. & StrategyR™Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.CONTACTS: Zak AliDirector, Corporate CommunicationsGlobal Industry Analysts, Inc.Phone: 1-408-528-9966www.StrategyR.com Email: [email protected]LINKSJoin Our Expert Panelhttps://www.strategyr.com/Panelist.aspConnect With Us on LinkedInhttps://www.linkedin.com/company/global-industry-analysts-inc./Follow Us on Twitterhttps://twitter.com/marketbytesJournalists & Media[email protected]SOURCE Global Industry Analysts, Inc. Related Links http://www.strategyr.com

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