DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Bio-Fertilizers Market - By Product Type, Crop Type, Microorganism, Regions and Vendors - Market Size, Demand Forecasts, Industry Trends and Updates, Supplier Market Shares (2016-2022)" report to their offering.
The global biofertilizers market was $1.06 billion in 2016 and is estimated to reach $2.1 billion, at a CAGR of 12.04% by 2022.
North America leads the biofertilizers market in 2016; however, APAC is estimated to be the fastest growing market for the forecasted period. Growth in Europe is attributed to the stringent regulations regarding maximum level of residue and also on the increasing cost of substitutes - chemical fertilizers. APAC market is growing quickly with increasing awareness among farmers on the ill effects ofchemicals.
An increase in the rate of consumption of organic food and stringent regulatory frameworks concerning the maximum chemical residue is the major factor for the growth of the biofertilizers industry in different regions. Biofertilizers have emerged as the most feasible solution to these issues and have been gaining considerable market acceptance since the time they were first introduced. Biofertilizers, in addition to providing an eco-friendly option, also maintain the soil and crop health with increased efficiency. Biofertilizers are also being promoted in developing markets such as India with an aim to increase the production, distribution and utilization of biofertilizers.
China, the world largest agricultural market, has been promoting biofertilizers by providing companies manufacturing organic products with tax incentives. In addition, the low price of biofertilizers compared to chemical based fertilizers has also been boosting the demand for biofertilizers. However, lack of awareness amongst the farmers hailing from developing countries has been one of the major factors hindering the market growth. Along with catering to the local market, the Asia-Pacific and rest of the world regions are the biggest exporters of biofertilizers. The industry is fragmented constituting many regional players dominating the market.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Market Dynamics
5. Bio-Fertilizers Market Segmentation, Forecasts and Trends - by Revenue
6. By Product type
7. By Crop Type
8. By Microorganism
9. By Region
10. Global Vendor Market Share Analysis
11. Competitive Intelligence - Company Profiles
- Novozymes A.S.
- National Fertilizers Limited
- Madras Fertilizers Limited
- Rizobacter Argentina S.A.
- T. Stanes & Company Limited
- Camson Bio Technologies Limited
- Nutramax Laboratories
- Antibiotice S.A
- Agri Life
For more information about this report visit http://www.researchandmarkets.com/research/pxqh8l/global