Biofertilizers Market Analysis, Industry Research Report and Forecast, 2015 - 2022
Rising need to attain maximum land fertility in limited arable land to meet increasing crop consumption is among the key trending factors fueling biofertilizers market growth. Shift in consumer preference for organic food to avoid toxic consumption will support the overall industry growth.
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Nitrogen fixing products held in excess of 75% of the 2014 global industry share. Regulatory compliance by EPA and EU pertaining to nitrogen loss in underground water due to synthetic fertilizers usage has supported biofertilizers penetration.
Shift in industry preference towards bio-based alternatives to reduce petroleum products dependency and limiting the carbon emissions will positively influence biofertilizers market growth. The product has wide acceptance in large plantation for small farmers to meet industry expectations.
Commercial organic farming is a relatively new practice and believed to be a limited scale market at present. As per the analysis, 90% of consumers knew about organic products owing to medically claimed health benefits. These products are chemical free, good for health and natural.
Seed treatment applications accounted for more than 65% of the 2014 revenue. Lifestyle improvement has resulted in the rapid organic products market development. The industry has witnessed an established business for organic products due to rising demand from health concerned consumers.
Increasing renewable products penetration, by phasing out toxic, synthetic products periodically and reducing carbon footprints has favored industry growth. High cost over its conventional alternatives may impact biofertilizers market price trend.
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Asia Pacific is majorly influenced by China, India, and Malaysia biofertilizers market. The region expects over 13% growth up to 2022. Government support through schemes and exemption on promoting organic farming has positively influenced product demand. Spain and France were the key revenue generating countries in Europe biofertilizers market growth. Nitrogen fixing accounted for over 80% of the overall regional industry share.
Rise in per-capita disposable income owing to rise in living standards may favor organic food demand. Organic farming is practiced in more than 160 countries worldwide. Global organic food market is likely to register a CAGR of over 16%. Key organic foods include organic fruits, vegetables, meat products, naturally derived alcoholic beverages such as beer and wine.
Global biofertilizers market share is fragmented and competitive with strong domestic player presence. CBF China Biofertilizers AG & Novozymes are main players with diversified distribution channels and product portfolio.
In terms of geographic presence other companies include AgriLife, Biomax, Labiofam S.A., Antibiotice S.A, Mapleton & Symborg.
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