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Biofertilizers Market Key Players Analysis - National Fertilizers Limited, MADRAS FERTILIZERS LIMITED, International Panacea Limited, LALLEMAND Inc., Kan bossy.
Biofertilizers Market
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Biofertilizers Market are:
• Growing consumer preference for organic and sustainable agricultural practices.
• Growth of the agriculture industry in emerging economies.
• Adoption of precision farming practices.
The following are the primary obstacles to the Biofertilizers Market's expansion:
• Higher initial costs compared to chemical fertilizers.
• Strong competition from well-established chemical fertilizers.
• Limited knowledge and awareness among farmers about the benefits and proper application of biofertilizers.
Future expansion opportunities for the global Biofertilizers Market include:
• Rising interest in sustainable and regenerative agriculture.
• Advances in biofertilizer formulations and technologies.
• Partnerships with research institutions for innovation and development.
Market Analysis:
Rising public awareness of environmentally sustainable agricultural products has prompted several governments to provide financial support to farmers, thereby fostering sector growth. Enhanced governmental initiatives aimed at boosting biofertilizer production to improve crop quality are considered key drivers contributing to the expansion of the global biofertilizer market.
List of Prominent Players in the Biofertilizers Market:
• Agrilife
• Agrinos
• American Vanguard Corporation (U.S.)
• ASB Grunland
• Aumgene Biosciences
• Bienvenido
• Bioceres S.A. (Argentina)
• Biomax Naturals
• Bioworks Inc. (U.S.)
• Hansen Holding A/S
• Criyagen
• Gujarat State Fertilizers & Chemical Ltd. (India)
• Helmut Aurenz Gmbh,
• International Panacea Limited
• IPL Biologicals Limited
• Jaipur Biofertilizers
• Kan Biosys
• Kiwa Bio-Tech
• Lallemand In
• LKB Biofertilizer
• Madras Fertilizers Limited
• Manidharma Biotech Pvt Ltd
• Mapleton Agri Biotec Pty Ltd
• National Fertilizers Limited (India)
• Novozymes A/S (Denmark)
• Nutramax Laboratories, Inc.
• Rashtriya Chemicals And Fertilizers Limited
• Rizobacter Argentina S.A.
• SEIPASA
• Some Phytopharma India Ltd
• Symborg
• Stanes And Company Limited
• Upl Limited
• Valagro
• Valent Biosciences
• Varsha Bioscience And Technology India Pvt Ltd
• Vegalab SA
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Recent Developments:
• In February 2023, the biofertilizer laboratory at Hoshiarpur was opened by the Punjab Department of Horticulture. Under the Center's Rashtriya Kisan Vigyan Yojana, a laboratory was constructed to lower farmers' fertilizer costs. The government program also aims to stop chemical fertilizers from contaminating the land.
• In February 2023, Krishak Bharti Cooperative Limited's liquid biofertilizer facility was opened in Varanasi by the Uttar Pradesh Agricultural Ministry in India. The remodeled liquid biofertilizer factory intends to increase the output of biofertilizers that are more affordable for the state's farmers.
• In August 2022, Chambal Fertilisers and Chemical Limited (CFCL) collaborated with The Energy and Resources Institute (TERI) to introduce their first Mycorrhiza product, "Uttam Superrhiza." Microbial interactions in the soil are successfully harnessed to develop the product.
Biofertilizers Market Dynamics
Market Drivers: Technological Advancements in Production
The biofertilizers market is experiencing substantial growth, driven by innovations in biotechnology that have improved production techniques, enabled precision agriculture, optimized the selection of effective microbial strains, and introduced advanced delivery methods such as seed coatings. These technological enhancements have resulted in more efficient and cost-effective manufacturing processes, thereby increasing both the availability and demand for biofertilizers.
Challenges: Shelf Life Limitations and Storage Requirements
Despite its growth potential, the biofertilizers market faces challenges related to limited product shelf life and sensitivity to storage conditions. Improper storage can compromise efficacy over time, presenting difficulties for manufacturers and distributors in maintaining product quality throughout the supply chain. These constraints restrict wider adoption of biofertilizers, particularly in regions lacking adequate infrastructure for proper handling and storage, thereby limiting overall market expansion.
Regional Outlook: North America Projected to Achieve Highest CAGR
North America is expected to register the highest compound annual growth rate (CAGR) in the biofertilizers market during the forecast period. Heightened concerns regarding the environmental and health impacts of conventional agricultural practices are driving demand for organic food products across the region, supporting the adoption of biofertilizers in sustainable farming. Additionally, favorable government policies and regulatory frameworks in the United States and Canada that promote eco-friendly agricultural inputs have created a conducive environment for the continued growth of the biofertilizers industry in North America.
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Segmentation of Biofertilizers Market-
By Type-
• Nitrogen-fixing Microbes
• Phosphate solubilizing and mobilizing microbes
• Potassium solubilizing and mobilizing microbes
• other types (zinc, silica, and sulfur solubilizing biofertilizers)
By Mode of Application-
• Soil Treatment
• Seed Treatment
• Other modes of application (foliar treatment, root dipping, and seeding root treatment)
By Crop Type-
• Cereals & grains
• Pulses & oilseeds
• Fruits & vegetables
• Other crop types (turf & ornamentals, plantation crops, fiber crops, and silage & forage crops)
By Form-
• Liquid
• Carrier-based
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/biofertilizers-market/1651
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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