DUBLIN--(BUSINESS WIRE)--The "Biofertilizers Market Size and Forecast by Product (Nitrogen fixing, Phosphate solubilizing), by Application (Seed treatment, Soil treatment) and Trend Analysis, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
Global biofertilizers market is expected to be valued at USD 2.0 billion by 2024 owing to the increasing need for organic farming with the rising inclination of consumers towards organic food and beverages. Furthermore, biofertilizers are cost-effective nutrients for plants, eco-friendly and are the healthy alternate for chemical fertilizers. The market demand for biofertilizers is projected to grow on account of the wide applications in seed treatment, soil treatment, and other composting applications.
The growing preference towards organic food coupled with rising awareness regarding the hazards associated with much of chemical fertilizers usage and their impact on environment has helped in the inclination towards the usage of biofertilizers. In addition, multiple economies including the developing countries have put in place multiple initiatives promoting the adoption of biofertilizers.
Environmental regulations against the use of synthetic fertilizers are expected to augment biofertilizers demand over the forecast period. Bio-fertilizers enhance the absorption capacity of nutrients such as phosphorus and zinc in plants.
The use of synthetic fertilizers results in loss of nitrogen to underground water due to leaching and nitrification. This has led to introduction and implementation of a regulatory framework by the United States Environmental Protection Agency (EPA) and European Union limiting the level of nitrogen in ground water to less than 50 milligrams per liter.
North America is projected to contribute the largest share in overall biofertilizers market. Followed by Europe, which held the second largest share in 2016, owing to the soil management practices undertaken in the field of organic production. Asia Pacific region presents a potential growth venue over the forecast period with its prevailing agriculture sector.
- Novozymes A/S
- National Fertilizers Ltd.
- Lallemand Inc.
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Methodology and Scope
Chapter 3 Introduction
Chapter 4 Biofertilizers Market Trends: Drivers & Opportunities
Chapter 5 Biofertilizers Market Trends, By Product
Chapter 6 Biofertilizers Market Trends, By Application
Chapter 7 Biofertilizers Market Trends, By Region
Chapter 8 Key Country Markets
Chapter 9 Competitive Landscape
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