The global biofertilizers market to grow at a CAGR of 14.11% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global biofertilizers market for 2016-2020. To calculate the market size, we have considered the revenue generated from the retail as well as direct sales of various biofertilizers sold across the globe in 2015.
Globally, land degradation as a result of nutrient deficiency in the soil is creating a high demand for fertilizers. During harvesting, nutrients such as nitrogen are removed from the soil by crops and the nutrient deficiency leads to decline in yields. Many farmers are also increasing the use of fertilizers to speed up the crop growth and increase their agricultural productivity.
Advent of liquid biofertilizers will be a key trend for market growth. One of the major innovations in biofertilizers is the advent of liquid biofertilizers. Liquid biofertilizers are special liquid formulations containing not only the desired microorganisms and their nutrients but also special cell protectants or chemicals which promote the formation of resting spores or cysts, which help the biofertilizer attain a longer shelf life and tolerance to adverse conditions. Carrier-based biofertilizers, which are the solid ones, have a shelf life of only six months.
According to the report, one of the key drivers will be growing awareness regarding health and environmental concerns. It has been witnessed that the improper and excessive application of chemical fertilizers to gain maximum output leads to the damage of plants and agricultural land in the form of burns on grass, discolored streaks on agricultural land, and damaged plant foliage. In addition, if these chemical fertilizers leach into storm drains, they can cause severe water pollution. Even in the agricultural sector, inorganic fertilizers have been termed as the most important agent for causing pollution to both, the water and the soil.
Further, the report states that lack of accessibility, awareness, and adoption constraints of biofertilizers will be a challenge for the market. The lack of awareness about the need to use biofertilizers and preference for low-cost fertilizers and their immediate results make the farmers of developing countries to opt for chemical fertilizers instead. Creating awareness among consumers about the benefits of using biofertilizers and the need to protect the environment by ensuring sustainability is an essential factor for the market to grow.
- Gujarat State Fertilizers & Chemical
Other prominent vendors
- Camson Biotechnologies
- CBF China Biofertilizers
- Kiwa Biofertilizer
- Madras Fertilizer
- Mapleton Agribiotec
- Monarch Biofertilizers
- National Fertilizers
- Rashtriya Chemicals and Fertilizers
- Rizobacter Argentina
- Sushila Biofertilizer
For more information about this report visit http://www.researchandmarkets.com/research/hmnwc6/global
Related Topics: Agrochemicals and Fertilizers
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SOURCE Research and Markets