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EMAILWIRE.COM, December 29, 2016 ) The Global Biofertilizers Market was worth $930.5 million in 2016 and estimated to be growing at a CAGR of 13.6%, to reach $1760.39 million by 2021. There is a shift observed to bio-based substitutes to decrease dependence on petroleum products and lower carbon releases into the atmosphere which further helps in reducing global warming all around the globe.
Biofertilizers have living microorganisms that endorse plant growth by aggregating the availability of basic nutrients to the host plant. The use of favorable microbes as organic Biofertilizers have evolved as of great importance in the agricultural area for the ability they carry to deliver food safety and a supportable crop production method.
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Increasing health concerns about the usage of chemical fertilizers have driven the demand for Biofertilizers. As life style associated diseases are rising, demand for organic food is also gaining importance. This has fortified the farmers to make use of an organic fertilizer which is one of the key reasons for the rapid growth of bio fertilizer market. Though, certain Biofertilizers allegedly have sedative effects. Yet, the global Biofertilizers market has a great opportunity to expand across the developing economies.
Scope of the Report:
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive
PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Global market for Biofertilizers is segmented by type into Nitrogen Fixing, Phosphate Solubilizing and Potash Mobilizing. Based on crop type the market is segregated into Cereals & Grains, Pulses & Oilseeds and Fruits & Vegetables. On the basis of microorganism segmentation is among Azotobacter, Azospirillium, Rhizobium, Phosphate Solubilizing Bacteria and Cyanobacteria. By mode of application the market is bifurcated into Seed Treatment and Soil Treatment. By form the market is divided into Pure & Mixed Liquid Fermentations, Dispersible Granules and Pellets. Nitrogen-fixing bio-fertilizer is the leading segment of the market which is fuelled with the increasing acceptance and demand of these fertilizers and expected to expand enormously.
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Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. Asia-Pacific is the leading consumer market of bio-fertilizer due to good awareness and government policies which are amongst the main growth drivers in this region. Asia-Pacific is also the most adaptable market for bio-fertilizer because of accessibility of raw material, low-priced labour force and large population of end- users.
The value chain includes producers in the Biofertilizers market and they are Lallemand Inc. (Canada), Camson Bio Technologies Limited (India), Rizobacter Argentina S.A. (Argentina), Novozymes A/S (Denmark), Camson Bio Technologies Limited (India) and Nutramax Laboratories Inc. (U.S.), Symborg S.L., Mapleton Agri Biotech Private Ltd and AgriLife.
Market Data Forecast
Abhishek
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