Agrochemicals environmental hazards and soil contamination on crops
is anticipated to fuel global biofertilizers market over the next eight
years. Agrochemicals impact on human and animal health is expected to
drive the global bio-fertilizer market. Stringent regulations on
agrochemicals led industry to shift towards biofertilizers. Emergence of
the product as the best solution these problems led to a significant
acceptance across the world.
In addition to ecofriendly nature, the product also maintain crop and
soil health along with increasing yield which is expected to spur
biofertilizer market growth over the forecast period. Biofertilizers are
manufactured using organic and human wastes such as compost and
struvite which is one of the clearest substitutes to agrochemicals.
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Biofertilizers can be segmented as phosphate solubilizing and
nitrogen fixing. Recently with technological advancement, potash
mobilizers, and sulfur and zinc solubilizers have been emerged as
biofertilizers. Favorable regulatory norms in many regions across the
world are expected to surge biofertilizer market over the next eight
years. The European Union issued “Common Agriculture Policy” to enhance
organic farming and the product applications by issuing 30% payment as
green payment. The product is being promoted in emerging economies such
as China and India with a major consideration in their five year plans.
Indian government introduced ‘National Project on Development and Use
of Biofertilizers’ to increase production and utilization. Low product
prices as compared to agrochemicals are projected to bolster
biofertilizers market over the foreseeable future. The product has
gained considerable acceptance in developed countries which is likely
surge global demand. Less awareness among the farmers and consumers in
developing countries regarding advantageous characteristics of the
product is expected to hinder the market over the next eight years.
Biofertilizers can be segmented on the basis of product type as
phosphate solubilizers and nitrogen fixation biofertilizers. Nitrogen
fixing biofertilizers consists of various bacteria’s including
Azotobactor, Rhizobium, Acetobactor and Azospirillum, which helps to
improve soil yield coupled with microbial and organic population.
Nitrogen fixing biofertilizers had major share in the product market in
2013 owing to increasing demand worldwide.
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Phosphate solubilizer was the second major application segment of
biofertilizer in 2013, and is anticipated to be the fastest growing
market over the forecast period. Phosphate solubilizers contain
bacterias which helps to hydrolyze inorganic and organic phosphate from
compounds. Phosphate chemical fertilizers used for plants are
immobilized and reduce plants minerals intake whereas biofertilizers
enhances the mineral intake of plants owing to substantial supply of
phosphate.
Biofertilizers applications include soil treatment and seed
treatment. Seed treatment was the largest application market in 2013.
The product addition to seeds improves sustainability for virus and
bacteria attacks and improves crop yield. It helps in converting
atmospheric nitrogen and makes it useful for plants. Seed treatments
also improve phosphorus content in the soil by solubilizing it and
enhance availability. Soil treatment is done by spraying biofertilizer
on the agriculture land which improves the crop yield and fertility.
Biofertilizers were firstly commercialized in Europe and North
America. North America was the major biofertilizer market in 2013
followed by Europe, together accounting for over 50% market share.
Increasing atmospheric hazards awareness and pollution impact coupled
with increasing demand for organic food is expected to boost the global
biofertilizers market in the region over the forecast period.
Stringent regulations related to green farming force farmers to
switch towards biofertilizers replacing agrochemicals is projected to
have positive impact on the biofertilizer market in near future. Asia
Pacific was the third major market in 2013 and expected to be the
fastest growing market over the next eight years on account of
increasing organic food demand. Growing agricultural activities in
countries such as China, India and Brazil is likely to spur the market
over the next decade.Government support to agricultural sector such as
incentives and subsidies is expected to boost the market in these
countries.
The major key players in the global market include Novozymes A/S, CBF
China Biofertilizers AG, Agri Life, Biomax, Antibiotice S.A., Symborg
S.L., Mapleton Agribiotec, and Labiofam S.A. Novozymes A/S and CBF China
Biofertilizers AG holds major share in the market and supply
biofertilizers particularly to North America and Europe. The market is
highly fragmented due to existence of large number of regional players.
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