Biofertilizer Market Size To Reach USD 4459.5 Million By 2028 With A CAGR of 8.4% - Valuates Reports
BANGALORE, India, Jan. 18, 2022 /PRNewswire/ -- Biofertilizer Market is segmented By Type - Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing, Others, By Application - Grains, Pulses & Oilseeds, Fruits & Vegetables, Others. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global Biofertilizer market size is estimated to be worth USD 2748.6 million in 2022 and is forecast to be a readjusted size of USD 4459.5 million by 2028 with a CAGR of 8.4% during the review period.
Major Factors Driving The Growth of The Biofertilizer Market Are
The increase in the amount of nitrogen and phosphorus available to plants, and the restoration of soil fertility are two factors driving the biofertilizers market. Biofertilizers aid in the enhancement of soil texture and quality, allowing plants to grow more effectively under adverse conditions such as drought. Furthermore, biofertilizer has been shown to play a significant role in the long-term maintenance of human health.
Biofertilizers are a low-cost and simple-to-use alternative to petrochemical fertilizers. As a result, the cost-effectiveness of biofertilizers is projected to continue to fuel market expansion.
Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-11C231/Global_Biofertilizer_Market
TRENDS INFLUENCING THE GROWTH OF THE BIOFERTILIZERS MARKET
The need for a sustainable alternative to chemical fertilizers is expected to drive the growth of the biofertilizers market. Biofertilizers, unlike traditional fertilizers, boost the nitrogen and phosphorus accessible to plants in a more natural way. Growers can customize the microorganisms employed to the needs of specific plants thanks to the various kinds available. Even for inexperienced small farmers, biofertilizers are simple to use. Chemical fertilizers often result in too much phosphate and nitrogen in the soil, whereas biofertilizers do not harm the land or the environment. Furthermore, it is also safe for human health as it is devoid of any chemicals.
Biofertilizers help to lessen reliance on costly petroleum-based chemical fertilizers. Due to a scarcity of fossil fuels, chemical fertilizer prices may rise beyond the grasp of small consumers. Biofertilizers are a low-cost, easy-to-use alternative to petrochemical fertilizers. This cost-effectiveness is expected to drive the growth of the biofertilizers market.
Biofertilizers bring the soil back to normal fertility and bring it back to life naturally. They increase the amount of organic matter in the soil and improve the texture and structure of the soil. The improved soil is more water-retentive than previously. Biofertilizers enrich the soil with essential elements such as nitrogen, proteins, and vitamins. They convert nitrogen from the atmosphere and phosphates from the soil into plant-friendly forms. Natural insecticides are also produced by some animals. This feature is expected to drive the growth of the biofertilizer market.
The increasing need to improve yields is expected to drive the growth of the biofertilizers market. Because of the nitrogen and phosphorus they give to the soil, biofertilizers can boost production by up to 30%. Plants grow better during droughts when the soil texture and quality are improved. Biofertilizers aid in the development of stronger root systems and improved plant growth. Harmful organisms in the soil, such as fungi and nematodes, are also reduced by biofertilizers.
Browse The Table Of Contents And List Of Figures At https://reports.valuates.com/reports/QYRE-Auto-11C231/global-biofertilizer
BIOFERTILIZER MARKET SHARE ANALYSIS
Based on region, China held the largest market share of about 30%. Following China, the USA held the second-largest biofertilizer market share of about 26%.
Based on application, Pulses & oilseeds accounted for the largest biofertilizer market share of about 45%. The increasing rate of population, particularly in Asia, has led to an increase in food demand, which in turn has increased biofertilizer usage.
Inquire For Customization: https://reports.valuates.com/request/customisation/QYRE-Auto-11C231/Global_Biofertilizer_Market
TOP COMPANIES IN THE BIOFERTILIZERS MARKET
More than 12% of the market is controlled by the top five corporations. Biofertilizer tycoons include Novozymes, Agri Life, Symborg, Xi'an Delong Bio-industry, and Maboshi. With a market share of roughly 4%, Novozymes is the largest biofertilizer producer.
Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Biofertilizer Market By Company
- Novozymes
- Biomax
- RIZOBACTER
- Agri Life
- Symborg
- National Fertilizers Limited
- Batian
- Xi'an Delong Bio-industry
- Maboshi
- Fertilzer King
- Jinggeng Tianxia
- Taigu Biological
- Taibao Biological
- Genliduo Bio-Tech
- Beijing Leili Group
- Qingdong Nongke
- Yunye
- Aokun Biological
- XinJiang StarSeed Science and Technology
- Laimujia
Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-11C231/Global_Biofertilizer_Market
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-11C231&lic=single-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS
- The global Phosphate Fertilizer market was valued at USD 52220 million in 2020 and it is expected to reach USD 61050 million by the end of 2027, growing at a CAGR of 1.8% during 2021-2027.
- The global Ammonium Sulphate market was valued at USD 3648.3 million in 2020 and it is expected to reach USD 3522.5 million by the end of 2027, growing at a CAGR of -0.5% during 2021-2027.
- The global Liquid Ammonia market was valued at USD 59430 million in 2020 and it is expected to reach USD 70370 million by the end of 2027, growing at a CAGR of 2.4% during 2021-2027.
- The global pest control market forecast was valued at USD 20.6 billion in 2019, and is projected to reach USD 30.0 billion by 2027, growing at a CAGR of 5.2% from 2020 to 2027.
- The global Urea Fertilizers market was valued at USD 54500 million in 2020 and it is expected to reach USD 62180 million by the end of 2027, growing at a CAGR of 1.9% during 2021-2027.
- Ammonia market size is estimated to be worth USD 75390 million in 2022 and is forecast to a readjusted size of USD 80500 million by 2028 with a CAGR of 1.1% during the review period.
- Global Ornamental Plant Organic Fertilizer Market Research Report 2021
- Global Fruit Trees Organic Fertilizer Market Research Report 2021
- Global Biological Organic Fertilizer Market Outlook 2022
- Global Vegetable Organic Fertilizer Market Research Report 2021
- Global Micronutrients Fertilizer Market Research Report 2021
- Global Microbial Fertilizer (Inoculant Type) Market Outlook 2022
Click Here To See Related Reports on fertilizer Market
About Us:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
Contact Us:
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article