(EMAILWIRE.COM, July 12, 2024 ) The biofertilizers market is estimated at USD 3.1 billion in 2023 and is projected to reach USD 5.2 billion by 2028, at a CAGR of 10.9% from 2023 to 2028. The market was valued to be 2.8 billion in 2022. Due to the rise in the modern agriculture techniques, precision farming and protected agriculture the global biofertilizers market is projected to grow at robust growth rate. Increasing demand for packaged organic and sustainably sourced food products, especially in urban areas, is further fueling the growth of the market.
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Phosphate solubilizing and mobilizing biofertilizers is estimated to be the fastest segment during the forecast period
Phosphorus is considered as the most essential element for higher crop productivity. Phosphorous helps into the better growth of crops which helps in enhancing the quality and yield of plants. It is also responsible for improving the root growth, improving seed and flower formations, and makes the plants resistant to the various pests and diseases. Better results are seen in the crops such as sugarcane, rice, fruits, and vegetables etc. These are also being utilized in the modern agricultural methods such as Hydroponics, Aquaponics and protected cultivation. These are the factors which are considered to drive the market for the phosphate solubilizing and mobilizing biofertiilizers.
Pulses and oilseeds segment is projected as the fastest growing segment during the research period
Pulses and oilseeds is the fastest growing segment during the forecasted period. This is due to the increase in the importance of the pulses in international trade. Pulses also contribute significantly to financial advantages by accounting for a big part of exports. Crops like chickpeas and pigeon peas sometimes require a lot of soil nutrients to develop properly. Rhizobium inoculation is frequently advised to boost nitrogen availability from the soil. Rhizobium and Azotobacter are usually suited for producing pulses and oilseeds. These are the factors that are considered to propel the growth of biofertilizers market.
Seed treatment is estimated to be the fastest-growing segment during the review period
Seed treatment aids in the encapsulation of small amounts of functional microbes, allowing the plant to deliver nitrogen for the roots to absorb nutrients. Seed treatment for nitrogen fixation is widely used for legume seeds. This process is less expensive and simpler than soil treatment since it involves less work to combine the seeds with biofertilizers. Moreover, seed treatment raises agricultural yields by 20% to 30%, increasing farmers’ profit margins with the same crop output. The benefits of seed treatment include better crop quality, enhanced plant stress tolerance, and improved water and nutrient absorption. These are the factors which are driving the growth of the segment.
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Europe is estimated to be the fastest growing region during the study period
Europe is the fastest growing region in biofertilizers market. This is due to increase in the use of technologies and machineries in agricultural sector. The expansion of the agricultural industry in this area has made it possible for it to be a major producer and exporter of important agricultural goods. The region’s market for biofertilizers has expanded significantly as a result of a developing economy and customer demand. Europe is one of the leading consumer of fertilizers and hence it is projected to foster at higher rate in biofertilizers market.
Eminent players operating in the biofertilizers market are Novozymes (Denmark), UPL (India), Chr. Hansen Holding A/S (Denmark), Syngenta (Switzerland), IPL Biologicals Limited (India), T.Stanes and Company Limited (India), Lallemand Inc (Canada), Rizobacter Argentina S.A. (Argentina), Vegalab SA (Switzerland), and Kiwa Bio-tech Product Group Cooperation (China).
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MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=856
Phosphate solubilizing and mobilizing biofertilizers is estimated to be the fastest segment during the forecast period
Phosphorus is considered as the most essential element for higher crop productivity. Phosphorous helps into the better growth of crops which helps in enhancing the quality and yield of plants. It is also responsible for improving the root growth, improving seed and flower formations, and makes the plants resistant to the various pests and diseases. Better results are seen in the crops such as sugarcane, rice, fruits, and vegetables etc. These are also being utilized in the modern agricultural methods such as Hydroponics, Aquaponics and protected cultivation. These are the factors which are considered to drive the market for the phosphate solubilizing and mobilizing biofertiilizers.
Pulses and oilseeds segment is projected as the fastest growing segment during the research period
Pulses and oilseeds is the fastest growing segment during the forecasted period. This is due to the increase in the importance of the pulses in international trade. Pulses also contribute significantly to financial advantages by accounting for a big part of exports. Crops like chickpeas and pigeon peas sometimes require a lot of soil nutrients to develop properly. Rhizobium inoculation is frequently advised to boost nitrogen availability from the soil. Rhizobium and Azotobacter are usually suited for producing pulses and oilseeds. These are the factors that are considered to propel the growth of biofertilizers market.
Seed treatment is estimated to be the fastest-growing segment during the review period
Seed treatment aids in the encapsulation of small amounts of functional microbes, allowing the plant to deliver nitrogen for the roots to absorb nutrients. Seed treatment for nitrogen fixation is widely used for legume seeds. This process is less expensive and simpler than soil treatment since it involves less work to combine the seeds with biofertilizers. Moreover, seed treatment raises agricultural yields by 20% to 30%, increasing farmers’ profit margins with the same crop output. The benefits of seed treatment include better crop quality, enhanced plant stress tolerance, and improved water and nutrient absorption. These are the factors which are driving the growth of the segment.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=856
Europe is estimated to be the fastest growing region during the study period
Europe is the fastest growing region in biofertilizers market. This is due to increase in the use of technologies and machineries in agricultural sector. The expansion of the agricultural industry in this area has made it possible for it to be a major producer and exporter of important agricultural goods. The region’s market for biofertilizers has expanded significantly as a result of a developing economy and customer demand. Europe is one of the leading consumer of fertilizers and hence it is projected to foster at higher rate in biofertilizers market.
Eminent players operating in the biofertilizers market are Novozymes (Denmark), UPL (India), Chr. Hansen Holding A/S (Denmark), Syngenta (Switzerland), IPL Biologicals Limited (India), T.Stanes and Company Limited (India), Lallemand Inc (Canada), Rizobacter Argentina S.A. (Argentina), Vegalab SA (Switzerland), and Kiwa Bio-tech Product Group Cooperation (China).
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
