Biofertilizers Market Growth Rapidly 2019 | Major Kay Players Novozymes A/S, Madras Fertilizers Limited, Rizobacter Argentina S.A., Camson Bio Technologies Limited, LallemandInc, National Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd., T.

Bio fertilizer is a substance that consists of living microorganisms, which help in the growth of plant by increasing the supply of nutrients to it. Increase in the use of bio-fertilizers is expected to reduce the demand for chemical fertilizers and pesticides as they hamper the health of the soil. The aim of this report is to provide an insight on the global biofertilizers market current and projected trends and to carry out an in depth analysis of market potentials available.

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The major players in the market are as follows:

Novozymes A/S, Madras Fertilizers Limited, Rizobacter Argentina S.A., Camson Bio Technologies Limited, LallemandInc, National Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd., T.Stanes& Company Limited, Rashtriya Chemicals & Fertilizers Ltd., Nutramax Laboratories, Inc.

High Level Analysis

The analysis gives an overview about global biofertilizer market and its key concerns. The global market analysis using Porter’s five force model and SWOT analysis helps in giving a better understanding about various opportunities, threats and substitutes. The bargaining power of suppliers is high as the demand for fertilizers is more than the supply. Thus, this decreases the bargaining power of the buyer due to the unmet demand. Threat of new entrants to this market is moderate due to the substantial amount of research associated and the initial investments involved in setting up of a new industry.

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

These are renewable sources of plant nutrients, which can come in place of chemical fertilizers. They are extensively used for soil application or seed treatments. The tremendous growth in this market is because of the increasing demand for organic food items around the globe. The market value of biofertilizers is very strong for improving the life of food products and increasing reliability and stability.

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The Global Biofertilizers market was valued at USD 952.32 million in 2016 and is projected to reach USD 3567.80 million by 2025, growing at a CAGR of 14.12% from 2018to 2023.

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