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Biofertilizers Market, By Crop Type (Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, and Others), by Form (Solid and Liquid), by Functionality (Nitrogen-fixing, Phosphate-solubilizing, Potash-mobilizing, and Others), by Application (Seed Treatment, Soil Treatment , and Others), and by Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027<br>
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BIOFERTILIZERS MARKET ANALYSIS Bio fertilizers Market, By Crop Type (Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, and Others), by Form (Solid and Liquid), by Functionality (Nitrogen-fixing, Phosphate-solubilizing, Potash-mobilizing, and Others), by Application (Seed Treatment, Soil Treatment , and Others), and by Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Market – Dynamics Biofertilizers are fertilizers which contain living microorganisms, and are used as microbial or soil inoculants that aid crop plants to uptake nutrients when applied through soil or seeds. Biofertilizers offer various advantages such as high yield of crops, retaining fertility of soil, are eco-friendly, and cost effective. Based on its nature and function, biofertilizers are classified into nitrogen fixing biofertilizers, phosphate solubilizing biofertilizers, potash moving biofertilizers, biofertilizers for micronutrients, and plant growth promoting rhizobacteria. Biofertilizers aid in decomposition of organic residue and accelerate overall plant development and growth. Increasing demand for high crop yield is expected to drive growth of the biofertilizers market.
Market – Regional Insights Extensive & long term application of biofertilizers can result in accumulation of heavy metals, salts, and nutrients which can have adverse effects on plant growth & soil fertility. Also large volumes of biofertilizers are required for application due to low contents of nutrients, which can make it costly compared to chemical fertilizers. These factors are expected to restrict market growth of the biofertilizers over the forecast period.
Market Outlook Among region, Asia Pacific is expected to witness highest growth rate in the market over the forecast period, owing to increasing crop production in the region. According to the India Brand Equity Foundation (IBEF), the total food grain production in India was pegged at 275.11 million tons in 2016, which increased by 4.40 million tons to reach to 279.51 million tons in 2017.
Key Market Players Major players operating in the global biofertilizers market include Lallemand Inc., Novozymes A/S, Agrinos AS, Symborg, Biomax Green Pte Ltd, LABIOFAM S.A., National Fertilizers Ltd., AgriLife, Kiwa Bio-Tech, and Mapleton AgriBiotec Pty Ltd. Companies operating in biofertilizers market are focusing on partnership & collaborations in order to enhance their market share. For instance, in 2017, Agrinos partnered with KrishiRasyan Exports Pvt. Ltd. (an agrochemical company based in India with strong presence in northern part of India) for distribution of its products in India. This will help Agrinos to expand its presence in northern India.
Market Taxonomy • On the basis of crop type, the global biofertilizers market is segmented into: • On the basis of form, the global biofertilizers market is segmented into:
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