The global biofertilizers market is likely to witness a huge growth potential due to the soaring demand for organic foods. According to a report by Fortune Business Insights, titled “Biofertilizers Market Size, Share and Global Trend By Type (Nitrogen Fixing, Phosphate Solubilizers, Potash Mobilizing, Compost Biofertilizers), Microorganism (Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM), Application (Soil Treatment, Spray Application, Seed Treatment), Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables) & Geography Forecast till 2026,” the market is likely to gain traction due to growing adoption of organic farming practices around the world.
Major Leading Players Mentioned:
- Gujarat State Fertilizers & Chemicals Ltd
- Camson Bio Technologies Ltd
- Agri Life
- International Panaacea Limited
- Agrinos AS
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Organic farming practices are being adopted at an increasing pace on a global scale. Increasing awareness of environmental conservation and the effects of chemical pesticides have created a huge demand for biofertilizers.
The advantages of biofertilizers such as lesser pollution and longevity of crop life have led to a rising uptake. According to the US Department of Agriculture, in 2016, organic commodity sales increased by around 23% from the previous year. The surge in uptake of biofertilizers in farming has resulted from an inclination towards using the agricultural biological method in manufacturing.
Furthermore, increasing soil and water pollution and excessive use of chemical fertilizers has added to the demand for biofertilizers. Fortune Business Insights has predicted that the demand for biofertilizers will increase rapidly, which in turn will favor the growth of the global biofertilizers market in the coming years.
Romanian Company Introduces Effervescent Biofertilizers
The global biofertilizers market has accumulated growth from several renowned companies that are operating in the market. Companies are focusing more on research and development of new products to gain a competitive edge over their counterparts. In 2018, the Romania-based Norofert Organics launched a new effervescent biofertilizer in the market.
The effervescent biofertilizers are delivered to crops in the form of tablets and the company claims that these tablets can serve various crop input purposes such as pesticides and disease-related fertilizers. The report includes innovations, similar to the aforementioned Fortune Business Insights has predicted that such product innovations have been a boon to the global biofertilizers market and will create a huge demand for biofertilizers globally.
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Government Participation Will Play a Key Role in Market Growth
The active government participation in emerging countries such as China, India, and the US will favor the growth of the global biofertilizers market in the coming years. Encouraged by the high demand for sustainable agricultural products, the Indian government launched the National Project on the Development and use of Biofertilizers (NPDB) scheme.
The NPDB was introduced with a view to train agricultural workers for optimizing the use of agricultural biofertilizers. The government planned to encourage the use of organic and environment-friendly products, by spreading awareness about the adverse effects of chemically derived biofertilizers.
Biofertilizers are being adopted rapidly due to the benefits over their synthetic chemical alternatives. The growing focus on research and development of highly efficient biofertilizers will lead to high demand. The increasing demand will encourage market competitors and companies will be looking towards providing high-quality biofertilizers at low costs.
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