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.
Favourable 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.
Access of Full Research Report@ http://www.grandviewresearch.com/industry-analysis/biofertilizers-industry
Further key findings from the
study suggest:
- 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,
Antibiotic 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.
View Related Reports of this category: http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has
segmented the Global Bio-fertilizers Market on the basis of product,
application and region:
Biofertilizers Product Outlook
(Revenue, USD Million, 2012 - 2022)
- Nitrogen fixing
- Phosphate solubilizing
- Others
Biofertilizers Application
Outlook (Revenue, USD Million, 2012 - 2022)
- Seed Treatment
- Soil Treatment
Biofertilizers Regional Outlook
(Revenue, USD Million, 2012 - 2022)
North America
- U.S.
- Canada
Europe
- France
- Spain
Asia Pacific
- China
- India
Latin America
- Brazil
MEA
- Egypt
Browse Press
Release of this Report @ http://www.grandviewresearch.com/press-release/global-biofertilizers-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales
Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free:
1-888-202-9519
Email:
sales@grandviewresearch.com
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