(EMAILWIRE.COM, July 13, 2021 ) The report "Biofertilizers Market by Form (Liquid, Carrier-Based), Mode of Application (Soil Treatment, Seed Treatment), Type (Nitrogen-fixing, Phosphate solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), Crop Type, and Region - Global Forecast to 2026" The global biofertilizers market size is estimated to be valued at USD 2.6 billion in 2021 and is expected to reach a value of USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as growth in consumer preference for organic food products, adoption of soil fertility management practices, serious concerns regarding the control of nitrate emissions and eutrophication in the aquatic environment, and government promotions for the use of organic fertilizers are some of the factors driving the growth of the biofertilizers market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=856

COVID-19 Impact on the Biofertilizers Market:

The global market has witnessed a relatively stable market growth post-COVID-19 pandemic, with a similar trend of high demand in 2020. Biofertilizers can be developed easily, and therefore, are run by domestic manufacturers. As the produce can be manufactured by local companies, the supply chain has not been affected much due to the crisis. Therefore, local manufacturers are projected to dominate the market in most of the countries. There has been a significant increase in food crop production, such as soybean, in South America, fruits & vegetables in European countries, rice in Asian countries. In addition, there is repetitive cultivation due to the increased need in each country to step up domestic food production. Hence, biofertilizer is an effective tool, which helps in replenishing soil nutrition and has gained a high demand in the market. In addition, due to the ban on harmful chemical pesticides, the growth of the market for biofertilizers has not dropped significantly. With the relaxation of restrictions by the government, the market for biofertilizers is projected to grow significantly in the future.

Restraint: Environmental and technological constraints

Biofertilizer products have a limited shelf-life and run a high risk of contamination. The microorganisms used as biofertilizers become non-viable when exposed to high temperatures. Therefore, it is very important to store them in a cool and dry place. The major problem in the agricultural inoculation technology is the survival of microorganisms during storage; other challenges revolve around several parameters such as culture medium, physiological state of the microorganisms when harvested, dehydration process, rate of drying, temperature maintenance during storage, and water activity of inoculants. These challenges influence the shelf-life of microbes. The market also has less availability of research & development and testing labs, which is hindering the growth of the biofertilizers market. There is also a need for a quality management system to provide better microbial products to farmers.

Opportunity: New target markets: Asia Pacific & Africa

The Asia Pacific and African regions are the largest consumers of fertilizers. The increasing rate of population, especially in Asia, has resulted in the increasing demand for food, which would, in turn, lead to the increased consumption of fertilizers. However, the major concerns in this region are pollution and contamination of soil as well as their harmful effects on human beings. To combat the harmful effects of chemical fertilizers, governments in these regions are emphasizing the use of environmental-friendly fertilizers, such as biofertilizers and organic manure.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=856

North America is estimated to hold the largest market share during the forecast period

The imposition of bans on the usage of harmful chemicals and fertilizers in the agricultural industry by governments in North American countries has created a high growth potential for biofertilizers. In addition, the increasing acceptance of organic foods among consumers is projected to widen the scope of growth for leading players. The US dominated the biofertilizers market in North America in 2020. The FDA introduced stringent regulations pertaining to the quality standards of agricultural products, which is projected to encourage the use of biofertilizers in the US.

This report includes a study on the marketing strategies and the product portfolios of the major companies that operate in the biofertilizers market. The report has leading company profiles such as Novozymes A/S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A/S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (US), Rizobacter Argentina S.A. (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (US), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur Bio Fertilizers (India), Valent BioSciences (US), Aumgene Biosciences (India), Agrinos (US), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India), and Valagro (Italy).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.