Global biofertilizers market is expected to reach USD 1.65 billion by 2022, according to a new study by Grand View Research, Inc. The industry is expected to witness significant gains over the next seven years owing to rising need for feasible eco-friendly solution for plant and soil growth.
Emergence as drop in replacements for chemical fertilizers on account of environment friendly properties and similar applications is expected to promote growth. Stringent regulations coupled with government initiatives supporting biofertilizers use is a primary reason for perpetuating growth over the past few years.
Favorable government support for use of eco-friendly products and increasing production output of organic foods is expected to augment market growth in North America and Europe over the forecast period.
Fluctuating chemical prices coupled with commercial response to growing food cost is expected to be one of the key drivers for the market over the next seven years. Growing need for high agricultural yield in order to meet increasing population needs has triggered products use on account of low environmental impact.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/biofertilizers-industry
U.S. biofertilizers market revenue by product, 2012-2022 (USD Million)
·
Phosphate solubilizing biofertilizers market is
expected to grow at the fastest CAGR of 13.9% from 2015 to 2022. These include
bacillus, pseudomonas and aspergillums bacteria which provide phosphorous
macronutrients to plants. Soluble bacteria in the product impart superior
characteristics and are the key reason for high growth expectation over the
forecast period.
·
Soil treatment accounted for over 30.0% of global
market revenue in 2014 and is expected to grow at a CAGR of 13.0% from 2015 to
2022. Rising awareness towards deployment of eco-friendly products for
increasing crop yield is expected to augment product demand.
·
North America biofertilizers market was the
largest in terms of revenue accounting for over 32.0% in 2014 on account of
numerous manufacturers in the region. Positive agriculture industry outlook in
the U.S. and Canada along with increasing awareness regarding the application
of eco-friendly products in farming is expected to have favorable impact for
biofertilizers market.
·
Some of the key biofertilizer manufacturers
include CBF China Bio-fertilizer AG, Novozymes A/S, Antibiotice S.A, AgriLife,
and Symborg S.L. In January 2011, CBF China Bio-fertilizer built a new
production line in the Shandong plant with an additional capacity of 10,000
tons. Novozymes’ new enzyme technology is known to produce high yields of corn
oil and ethanol along with energy savings during production.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has segmented the global biofertilizers market on the basis of product, application and region:
Biofertilizers Product Outlook (Revenue, USD Million, 2012 - 2022)
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Nitrogen fixing
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Phosphate solubilizing
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Others
Biofertilizers Application Outlook (Revenue, USD Million, 2012 -
2022)
·
Seed Treatment
·
Soil Treatment
Biofertilizers Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
France
o
Spain
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
o
Egypt
For press release of this report - http://www.grandviewresearch.com/press-release/global-biofertilizers-market
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