(I-BusinessNews.Com, April 30, 2020 ) The biofertilizers market is estimated to be valued at USD 2.0 billion in 2019 and is projected to reach USD 3.8 billion by 2025, recording a CAGR of 11.2% during the forecast period. The biofertilizers market is driven primarily by the increasing organic farmland as well as the rising acceptance of biofertilizers among farmers.
Environmental and technological constraints
Biofertilizer products have a limited shelf-life and run a high risk of contamination. The microorganisms used as biofertilizers become non-viable when exposed to high temperature. Therefore, it is very important to store them in a cool and dry place. The major problem in the agricultural inoculation technology is the survival of microorganisms during storage; other challenges revolve around several parameters such as culture medium, physiological state of the microorganisms when harvested, dehydration process, rate of drying, temperature maintenance during storage, and water activity of inoculants. These challenges influence the shelf-life of microbes.
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The market also has less availability of research & development and testing labs, which is hindering the growth of the biofertilizers market. There is also a need for a quality management system to provide better microbial products to farmers. The strict quality control management is very crucial and must be executed appropriately. The lack of skilled laborers is another factor that is affecting the market growth of biofertilizers. Appropriate training modules for laboratory analysts are unavailable for field level officers and fertilizer inspectors. These modules are necessary to design and implement quality control systems for an efficient application of biofertilizers.
The nitrogen-fixing biofertilizers segment is estimated to dominate the biofertilizers market due to the increasing acceptance and high efficiency to fix atmospheric nitrogen.
The usage of fertilizers is high due to the growing food demand and increasing crop production. Nitrogen fertilizers are among the highly used by the farming community. Thus, there is a considerable demand for nitrogen-fixing biofertilizers, which can be either used through carrier-based powder form or else in liquid formulations in farming. Biological nitrogen fixation is one of the ways of converting elemental nitrogen into a usable form for the plants. Moreover, awareness of water pollution and nitrate emissions is driving the need for alternative sustainable sources such as nitrogen-fixing biofertilizers.
The growing area under cultivation of fruits & vegetables and the increasing adoption of biofertilizers to increase quality and shelf life provides tremendous growth opportunities for this segment
There is an increasing trend towards cultivation and demand for fruits & vegetables due to the increase in per capita income, and rising consumption of fruits & vegetables due to increasing health awareness. The application of biofertilizers is also high, particularly for fruits & vegetable due to high returns on investment as consumers are willing to pay more for organic chemical-free products. Thus, with the increase in production of fruits vegetable segment, the application of biofertilizers is also expected to increase.
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North America is projected to witness the highest growth in the biofertilizers market during the forecast period
North American countries have imposed bans on the usage of harmful chemicals & fertilizers in agriculture due to its adverse effects on the ecology. This, in turn, has created a significant market potential for biofertilizers in the region. Also, increasing acceptance of organic foods among consumers is opening doors for various international players. Rapid growth in organic agriculture and rising demand for organic food in the continent has attributed to the growth of biofertilizer market. As per USDA and DOE, huge availability of biomass feedstock is also one of the drivers for the market.
This report includes a study of the development strategies of leading companies. The scope of this report consists of a detailed study of biofertilizer manufacturers such as Novozymes (Denmark), Kiwa-Biotech (China), Rizobacter Argentina S.A (Argentina), Lallemand Inc. (Canada) and Symborg (Spain).
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