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Biofertilizers Market Analysis, Share, Growth, Sales, Trends, Supply, Forecast 2027
Biofertilizers Market
Rising demand for organic food products is expected to drive demand for biofertilizers over the forecast period. Factors such as growing concerns for health, increasing disposable income, and environmental awareness is expected to drive demand for organic food. According to the International Federation of Organic Agriculture Movements, in 2017 a total of 69.8 million hectares of land was under organic crop cultivation, representing a 20% growth over 2016. According to the same source, the global organic food market was valued at US$ 97 billion in 2017, wherein the U.S. accounted for major market share, followed by Germany, France, and China. Furthermore, increasing demand for food, decline in total arable land, and increasing awareness about soil fertility is expected to drive demand for biofertilizers market.
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Extensive & long term application of biofertilizers can result in accumulation of heavy metals, salts, and nutrients which can have adverse effects on plant growth & soil fertility. Also large volumes of biofertilizers are required for application due to low contents of nutrients, which can make it costly compared to chemical fertilizers. These factors are expected to restrict market growth of the biofertilizers over the forecast period.
Market Taxonomy
On the basis of crop type, the global biofertilizers market is segmented into:
Cereals & Grains
Pulses & Oilseeds
Fruits & Vegetables
Others
On the basis of form, the global biofertilizers market is segmented into:
Solid
Liquid
On the basis of functionality, the global biofertilizers market is segmented into:
Nitrogen-fixing
Phosphate-solubilizing
Potash-mobilizing
Others
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Major players operating in the global biofertilizers market include Lallemand Inc., Novozymes A/S, Agrinos AS, Symborg, Biomax Green Pte Ltd, LABIOFAM S.A., National Fertilizers Ltd., AgriLife, Kiwa Bio-Tech, and Mapleton Agri Biotec Pty Ltd. Companies operating in biofertilizers market are focusing on partnership & collaborations in order to enhance their market share. For instance, in 2017,
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