Global Biofertilizers Market is Estimated to Grow at a CAGR of 14.0%

Date: 2015-08-17

“The global biofertilizers market is estimated to grow at a CAGR of 14.0% for the next five years. The growth in this market is propelled by continuous growth in the organic food industry and the rising price for chemical fertilizers. 

The Asia-Pacific market is projected to register the highest growth by 2020 owing to the significant increase in the awareness level in consumers for health and wellness and increasing demand for healthy and clean label food in the region. The growth of this region is supplemented by the increasing per-capita spending power and promotions by government agencies in developing economies such as India and China.

The growing demand for organic food products and increasing prices of chemical fertilizers are expected to drive the market for biofertilizers globally. In addition to this, key factors such as increasing awareness regarding ill-effects of chemical fertilizers and increasing adoption of soil-fertility management are projected to support the growth in the biofertilizers market in the forthcoming years.

By microorganisms, cyanobacteria segment is projected to dominate the global biofertilizers market between 2015 and 2020.  By type, Nitrogen-fixing segment is estimated to have the largest market share during the forecast period. Subsequently, the cereals & grains segment will dominate the biofertilizers crop-type segment, while seed segment is projected to dominate the market application from 2015 to 2020. 

This report covers the global biofertilizers market in major regions such as North America, Europe, Asia-Pacific, Latin America, and RoW. The biofertilizers market is segmented on the basis of type, crop type, microorganisms, application, and region.  
This report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, and challenges. Major biofertilizer companies include Gujarat State Fertilizers & Chemicals Ltd. (India), Novozymes A/S (Denmark), Rizobacter Argentina S.A. (Argentina), Camson Bio Technologies Limited (India), and Lallemand Inc. (Canada). National Fertilizers Limited (India), Madras Fertilizers Limited (India), T. Stanes & Company Limited (India), Rashtriya Chemicals & Fertilizers Ltd. (India), Nutramax Laboratories Inc. (U.S.) have also been profiled. 

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