Bio-fertilizers, consists of living micro-organisms which are environment friendly in nature, are used to supply additional nutrients to the soil by increasing the soil fertility to enhance the growth and quality of crops. Health hazards caused by the chemical fertilizers are on a continuous rise and as a result a continuous decline in the use of chemical based fertilizers can be seen in recent years. As a result, organic farming across the globe is gaining its ground and is being preferred by majority of the population at present. In addition to that, rising health concerns by consuming chemical based fertilizers food and a shift towards non-hazardous grown food to pave the new ways for bio-fertilizers manufacturers and suppliers.
Market size and forecast
The global bio-fertilizers market is projected to expand at a CAGR of 13.6% over the forecast period i.e. 2016-2023. Further, the global market estimated to reach USD 1.
58 Billion by 2023 from USD 610.2 Million in 2015. The global market of biofertilizers is expected to uplift on the back of rising demand of organic food and growing awareness towards the benefit of bio-fertilizers among the farmers
North-America had accounted the largest revenue share of 31.3% in 2015 of overall biofertilizers market across the globe.
Growing demand of organic food in U.S. and Canada is likely to upsurge the market of North-America in near future.
Further, the bio-fertilizers market of North-America region is estimated to grow significantly at a CAGR of 15.6% over the forecast period i.e. 2016-2023 on account of growing preference towards organic food in order to maintain health and fitness and rising awareness towards harmful effects of chemical fertilizers on environment.
On the other hand, Asia-Pacific market of bio-fertilizers is the most resourceful and revenue generated market for biofertilizer manufacturing industries owing to availability of cheap labor force and low cost raw material in the region. The market of Asia-Pacific is mainly upsurge by the rising government initiatives in growing economies such as government of China and India introduced national initiative which aims at increasing bio-fertilizer production, utilization and distribution.
Furthermore, the market is expected to register a CAGR of 11.2% over the forecast period i.e. 2016-2023.
Apart from this, Europe market of bio-fertilizers is predicted to flourish at a CAGR of 13.2% over the forecast period i.e. 2016-2023 on the back of introduction of common agricultural policy in the European Union and increasing agriculture budget up to 30% in order to improve quality and productivity of crops.
Further, initiatives taken by government food security agencies to ban several harmful fertilizers and pesticides would exhibit the greater demand for organic fruits and vegetables. Several initiatives and promotions are carried out by various authorities in order to grow awareness towards eco-friendly biofertilizers is expected to exhibit a positive impact on the market of biofertilizers in near future.
Our in-depth analysis segmented the global bio-fertilizer market in the following segments:
By Product Outlook
Others(zinc, boron or sulphur-solubilizing)
Other(nostoc, anabaena, tolypothrix)
Cereals and grains
Pulses and oil seeds
Fruits and vegetables
Others(plantation crops, forage crops)
Pure and mixed liquid fermentations
Others(set treatment, seedling root treatment & foliar treatment)
Global bio-fertilizer market is further classified on the basis of region as follows:
North America (United States /U.S. & Canada)
Latin America (Brazil, Mexico, Rest of Latin America)
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia)
Middle East and North Africa (MENA)
Rest of World
Growth Drivers and challenges
Factors such as enhancing soil fertility, introduction of effective bio-fertilizers, rising awareness towards environmental concerns, cost-effective bio-fertilizers, government mandates and growing demand of organic food among the population are expected to uplift the market of bio-fertilizers over the forecast period. The market is majorly driven on the back of factors such as growing need of food on account of rising population across the globe, rising concern towards good quality crops, increasing demand for the proper growth of cereals and grain, rising awareness among the farmers towards bio-fertilizers and growing adoption of bio-fertilizers by farm owners to attain enhanced quality.
Furthermore, presence of stringent regulation along with government initiatives sustaining bio-fertilizers use and environment friendly properties are expected to upsurge the demand for bio-fertilizers in near future. Rapid growth in food and agriculture sector owing to government funding and availability of effective and low cost bio-fertilizers is further likely to bolster the demand for bio-fertilizers in agriculture sector in order to increase economy by the nations.
However, lack of awareness among farmers in developing economies, high cost of initial investment and poor performance of earlier bio-fertilizers are some of the factors likely to inhibit the growth of biofertilizers market in near future.
The key vendors of bio-fertilizer market are as follows:
Agriculture Solutions Inc.
Key Product Offerings
Bio Power Lanka
EuroChem Agro GmbH
Gujarat State Fertilizers and Chemicals Ltd.
International Panaacea Limited
National Fertilizers Limited
Scope and Context
Overview of the Parent Market
The Global Bio-fertilizer Market is segmented as follows:
By Product type Market Size and Y-O-Y Growth Analysis
By Microorganisms type Market Size and Y-O-Y Growth Analysis
By Crop type Market Size and Y-O-Y Growth Analysis
By Form type Market Size and Y-O-Y Growth Analysis
By Application type Market Size and Y-O-Y Growth Analysis
North America (United States/U.S., Canada) Market Size and Y-O-Y Growth Analysis
Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Rest of World Market Size and Y-O-Y Growth Analysis
Supply and Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment.
We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...
For more information:Make an Inquiry about this report HERE!