With the growing awareness about the adverse effects of chemical fertilizers on environment, the global biofertilizers market gathers momentum. Chemical fertilizers significantly contaminate water and pollute the soil, which has shifted the preference toward biofertilizers, as they are environment friendly. In addition, an increased awareness about one’s health and with the concept of eating healthy, the global biofertilizers market has garnered momentum. In the case of organic farming, use of biofertilizers is compulsory, as such with the growing popularity of organic food, the market expands.
Some
of the well-known companies in the global biofertilizers market are Rashtriya
Chemicals & Fertilizers Ltd, Ajay Bio-Tech (India) Ltd, Camson Bio
Technologies, International Panaacea Limited, Rizobacter Argentina S.A, and T
Stanes & Company Ltd.
Researchers
at Transparency Market Research (TMR) have prepared a comprehensive report on
global biofertilizers market. The analysts predict that the global
biofertilizers market to likely to expand at a double digit growth rate of 12.9
% CAGR over forecast tenure, 2017 to 2025.
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North
America and Europe are Projected to Drive the Growth of the Market
The
global biofertilizers market is split into the major regions of Asia Pacific,
Middle East and Africa, Latin America, North America, and Europe. The
segmentations make an offering of region-based information and market dynamics
that could impact the growth of the global biofertilizers market in times to
come.
Considering
regional classifications, it is estimated that North America is expected to
experience high demand for biofertilizers, thanks to demand for high production
and existence of sound administrative infrastructure. Growth of the
biofertilizers market in the region is likely to be estimated to be driven by
Canada and the U.S. Europe is expected to closely follow North America in the
years to come. Presence of common agricultural policy (CAP) in Europe boosts
biofertilizers market in the region.CAP is responsible for the implementation
of various agricultural subsidies and many other programs in the region. The
overall policy recommends the lesser use of chemical inputs.
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In
Asia Pacific, it is expected that the market will flourish in years to come
following growing awareness among farmers about the advantages of using
biofertilizers. Furthermore, substantial rise in the research and development
activities is expected to further boost the Asia Pacific biofertilizers market
over the forecast period, from 2017 to 2025.
Increased
Use in Soil Treatment to Accentuate Demand for Biofertilizers over Forecast
Tenure
Soil
treatment methods are capable of improving the yield of crops with better
quality. When biofertilizers are mixed with the soil, the nutrient content of
the soil gets better, which has proven to increase yield by a good 10 percent
to 15 percent. In addition, it does not deteriorate the quality of soil and the
overall environment. The global biofertilizers market is likely to be
encouraged by the growing popularity of soil treatment, particularly in the
Asian countries.
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The
global biofertilizers market gathers momentum from the growing shortage of
arable land and increased demand for agricultural yield to cater to the need of
increasing population. The products that come under the segment of oats and
grain need considerable amount of biofertilizers. Oats, wheat, grain, and rice
are some of such crops that need substantial amount of biofertilizers to
optimize output thereby supporting growth of the global biofertilizers market
over the forecast tenure.
Biofertilizers
have gained traction in recent times as it has proved to be beneficial for in
more than one ways. Improvements in the yield, shelf life, and overall quality
of vegetables and fruits have been observed with use of biofertilizers. In
addition to that, the growing inclination toward organic vegetables and fruits
owing to growing awareness about its benefits and rise in per capita income of
the people is another growth factor for the global biofertilizers market.
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