Mycorrhizae-Based Biofertilizers Market Poised for Remarkable 7.07% CAGR Growth Through 2028

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Nov 02, 2023, 11:00 ET

DUBLIN, Nov. 2, 2023 /PRNewswire/ -- The "Mycorrhizae Based Biofertilizers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028F" report has been added to ResearchAndMarkets.com's offering.

The global mycorrhizae based biofertilizers market, valued at USD 570.76 million in 2022, is poised for significant growth in the forecast period, with a projected CAGR of 7.07% through 2028.

Mycorrhizae based biofertilizers are specialized organic formulations that harness the power of beneficial mycorrhizal fungi, combined with essential nutrients and growth-promoting microorganisms. These biofertilizers foster a mutually beneficial symbiotic relationship between mycorrhizal fungi and plant roots, enhancing plant growth, nutrient uptake, and overall health. Additionally, they protect plants from soil-borne infections and reduce transplantation shock and acidity stress, contributing to their market growth.

Key Market Drivers:

Rising Demand for Organic Food: The global shift toward organic food, driven by concerns about health, sustainability, and the environment, has spurred demand for innovative and sustainable agricultural practices. Mycorrhizae based biofertilizers have emerged as a powerful tool in organic farming, improving nutrient content and flavor in crops while reducing the need for chemical fertilization.
Growing Demand for Sustainable Food and Flavors: Consumers seek healthier and tastier produce, and mycorrhizae-based biofertilizers promote nutrient-rich, flavorful crops while reducing reliance on synthetic chemicals, aligning with eco-conscious consumer preferences.
Increasing Research and Innovation: Ongoing research explores mycorrhizal fungi diversity, optimizing plant-fungi interactions, enhancing plant resilience to stressors, and improving nutrient cycling. Researchers aim to create custom mycorrhizal blends for specific crops, develop innovative delivery methods, and extend the shelf life of biofertilizers, driving market growth.

Key Market Challenges:

High Cost: The production of mycorrhizae based biofertilizers involves selecting effective mycorrhizal strains and maintaining their viability, demanding substantial research and investment. Large-scale cultivation and quality control measures further contribute to product costs.
Limited Shelf Life: Mycorrhizal fungi are living organisms sensitive to adverse conditions, resulting in limited shelf life for biofertilizers. Reduced efficacy upon application can lead to product wastage.

Key Market Trends:

Crop Diversification and Yield Enhancement: Mycorrhizae enable diversified agriculture by supporting the growth of various plant species. They enhance nutrient uptake efficiency and stress tolerance, fostering healthier plants capable of withstanding challenges like drought and disease.
Soil Structure Improvement: Mycorrhizae help combat soil compaction, erosion, and degradation by establishing symbiotic relationships with plants. They create stable soil aggregates that resist compaction, improving water infiltration, root growth, and nutrient cycling.

As the global agriculture sector continues to evolve toward more sustainable and eco-friendly practices, mycorrhizae based biofertilizers are expected to play a vital role in enhancing crop quality, soil health, and environmental sustainability.

Key Market Players

UPL Limited
Novozymes A/S
Premier Tech Ltd
Plant HealthCare plc
Groundwork BioAg Ltd.
Vegalab SA
Atens-Agrotechnologias Naturales S.L.
Valent BioSciences LLC
Lallemand Inc.
Coromandel International Limited
Agri Life (India) Private Limited

Report Scope

In this report, the global mycorrhizae based biofertilizers market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

by Type

Endomycorrhizae
Ectomycorrhizae

by Form

Liquid
Solid

by Mode of Application

Soil Treatment
Seed Treatment
Fertilization Treatment

by Application

Agricultural
Non-agricultural

by Region

Europe
North America
Asia-Pacific
South America
Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/o1fjyg

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