Mycorrhizae-based biofertilizers market is projected to grow to USD 1,087 million by 2027, growing at a CAGR of 14.3%

The global mycorrhizae-based biofertilizers market is projected to grow to USD 1,087 million by 2027, growing at a CAGR of 14.3% during the forecast period. The growing awareness about climate change, eutrophication, agricultural sustainability, and the resulting shift towards organic farming are encouraging the farmers to adopt environmentally safe agricultural practices such as the application of Mycorrhizae-based biofertilizers. Mycorrhizae-based biofertilizers can ensure the preservation of soil health by reducing soil erosion, enhancing nutrient solubility, increasing crop yield and preventing eutrophication.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=20486754

Mycorrhizae-based biofertilizers Market Dynamics:

Multiple benefits of mycorrhizae-based biofertilizers

According to the UN population division, the world's population is expected to reach 9.7 billion people in 2050 and about 11 billion people around 2100. As a result, agricultural production must be actively encouraged to meet the growing need for food worldwide. With appropriate management, significant improvements must be made to enhance crop productivity and quality.

Applying mycorrhizae-based biofertilizers can efficiently increase crop production with reduced environmental impact. Arbuscular mycorrhiza (AM) is a common symbiotic relationship between plant roots and specialized soil fungi. According to studies, a higher AMF signaled good soil health and high crop yields, which benefited the agricultural sector as well as other industries. AMF is dependent on plants for sugars while also providing benefits such as intact soil particle binding, higher biomass, improved water-holding capacity, replacement of toxic compounds, enhanced intake of phosphorus, zinc, and other nutrients, drought and salinity tolerance, carbon sequestering in soil, and protection from nematodes and other predatory insects. The numerous benefits of mycorrhizae-based biofertilizers are augmenting their market growth.

Lack of knowledge and awareness regarding biofertilizers:

There is a large section of farmers who are oblivious of the importance of bio-fertilizers in agriculture owing to their socioeconomic conditions, lack of knowledge, expertise, and incorrect informational sources. The burden of ignorance is also exacerbated by the absence of resources and certifications for biofertilizers. Thus, improper knowledge and unawareness about biofertilizers may limit the usage of mycorrhizae-based fertilizers and the expansion of their market.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=20486754

Mycorrhizae-based biofertilizers are sustainable and environment-friendly:

Abiotic stresses reduce plant growth and productivity. The effects of abiotic stresses on crop productivity have been made worse because of climate change and agricultural malpractices like the excessive use of pesticides and fertilizers. There is an urgent need for environment-friendly management techniques, such as the use of arbuscular mycorrhizal fungi (AMF) to enhance crop productivity.

Chemical fertilizers are expensive, non-eco-friendly, harmful to human health, cause eutrophication, and diminish soil organic matter and microbe activity. Therefore, the use of mycorrhizal biofertilizers is desirable as they are organic, environment-friendly, and more cost-effective than chemical fertilizers. Mycorrhizal biofertilizers help to increase soil quality by supplying nutrients and the natural environment in the rhizosphere. The microbials present in mycorrhizal biofertilizers, such as ectomycorrhiza and endomycorrhiza species (arbuscular mycorrhiza), are important because they produce phosphorus and other nutrients beneficial to plants. Overall, mycorrhizal biofertilizers play an important role in plant growth productivity and protection against biotic and abiotic stresses, which makes them an essential and effective product for organic and sustainable agriculture.

Supply of counterfeit and less effective products:

The supply of low quality or counterfeit mycorrhizal biofertilizers is a major issue hindering the growth of the market studied. The counterfeit and low quality products create a negative image and concerns on the final product, thereby, leading the farmers to refrain from using mycorrhizae-based biofertilizers and decrease the market growth. In Asian countries the mycorrhizae-based biofertilizers market is fragmented with several regional players, this coupled with lack stringent regulations on the biofertilizers quality the the supply of counterfeit is increasing in the region. This is a concern which is posing a serious challenge for the expansion of the market and need to be addressed in the coming years to ensure healthy growth of the mycorrhizae-based biofertilizers market.

Request for Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=20486754

The fruits & vegetables segment is the fastest growing among the agricultural application of mycorrhizae-based biofertilizers during the forecast period

Fruits & vegetables ensure a secure supply of food and nourishment. Producing vegetables is a crucial part of farm diversification methods and aids in reducing rural unemployment and poverty in developing nations. With respect to human health, they are the most accessible source of vitamins and minerals. RhyzoMyco is a mycorrhizae-based biofertilizer manufactured by Novozymes which enhances the nutrient uptake in tuber crops like potato and cucumber. Promoting the production of fruits & vegetables is a preventive measure which would ensure good health as well as bring about economic, social, and environmental advantages thereby prompting the increased usage of Mycorrhizae-based biofertilizers.

Asia Pacific region is witnessing the highest growth rate in the mycorrhizae-based biofertilizers market

Countries such as China, India, Australia & New Zealand, and Japan are projected to be the potential markets for mycorrhizal biofertilizers during the forecast period due to advancements in agricultural technology. Agriculture in Asia is essential to the continents economic development. Governments across the continent are introducing various schemes to encourage the use of biofertilizers in agriculture. Through state governments, such as the government of the state of Bihar, the Indian central government has been promoting the use of biofertilizers rather than chemical fertilizers.

These initiatives include the Paramparagat Krishi Vikas Yojana (PKVY), Mission Organic Value Chain Development for Northeastern Region (MOVCDNER)), and National Food Security Mission (NFSM). A 2020 scientific paper titled "Assessment of biofertilizer use for sustainable agriculture in the Great Mekong Region" states that the six agriculturally prosperous Asian countries of the Great Mekong Region namely - China, Vietnam, Myanmar, Thailand, and Cambodia are striving to encourage the creation and usage of biofertilizers and providing them to farmers at reasonable prices. The growth of the mycorrhizae-based biofertilizers market in Asia Pacific can thus further be influenced by the reduced application of chemical fertilizers, rising disposable income, and progressive urbanization in the region.

The key players in mycorrhizae-based biofertilizers market include Premier Tech (Canada), UPL Ltd. (India), Novozymes A/S (Denmark), Helena Agri Enterprises LLC (US), Groundwork BioAg (Israel), Valent BioSciences (US), and Lallemand (Canada).

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/mycorrhizae-based-biofertilizers-market-20486754.html

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.