CHICAGO, May 26, 2021 / PRNewswire / – According to New Market Research Report “Biofertilizers market by form (liquid, carrier-based), mode of application (soil treatment, seed treatment), type (nitrogen fixer, solubilization and mobilization of phosphate, solubilization and mobilization of potash), type of culture and region – Global forecasts until 2026“, published by MarketsandMarkets ™, the size of the global biofertilizer market is estimated at 2.6 billion USD in 2021 and is expected to reach a value of 4.5 billion USD by 2026, with a CAGR of 11.9% in value during the forecast period. Factors such as increased consumer preference for organic food products, adoption of soil fertility management practices, serious concerns regarding the control of nitrate emissions and eutrophication in the aquatic environment , and government promotions for the use of organic fertilizers are some of the factors driving the growth of the biofertilizers market.
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Liquid is estimated to have the largest market share by form during the forecast period
The biofertilizer market, by form, has been segmented into liquid biofertilizers and carrier-based biofertilizers. Liquid biofertilizers represent the largest market during the forecast period due to the large number of products available in the market. Liquid biofertilizer technology is seen as an alternative to the conventional form of carrier-based biofertilizers. Liquid biofertilizers are specially formulated and contain not only the desired microorganisms and their nutrients, but also substances that can support the stability of the storage conditions of the spores and cysts at rest for a longer shelf life. Liquid fertilizers have better tolerance limits to adverse conditions. The quality control protocols for liquid biofertilizers are simple and fast compared to carrier-based biofertilizers.
Pulses and Oilseeds, by Crop Type are expected to grow at the second highest CAGR in the biofertilizer market during the forecast period.
The pulse and oilseed segment is expected to grow at the second fastest rate during the forecast period. Oilseeds such as soybeans are also used as animal feed in the form of meal as well as in the production of biodiesel and other renewable chemicals. Inoculation with Rhizobium is often recommended to increase the nitrogen supply to the soil, especially when the crop has been introduced recently or has not been cultivated for several years, or when the native Rhizobium population is inadequate and / or ineffective. Pigeon pea is another important perennial legume crop, which often requires a significant amount of soil nutrients for adequate growth. These requirements are easily met with the help of affordable biofertilizers, thus increasing the demand for biofertilizers.
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276 – Tables
54 – Figures
Nitrogen Fixing Microbes, By Type, are estimated to account for the largest market share during the forecast period
Nitrogen fixing microbes represent the largest size of the market during the forecast period. Biological nitrogen fixation enables sustainable agricultural production that respects the environment. The value of nitrogen fixing biofertilizers to improve and enable higher yield of legumes and other crops can be realized through the application of biofertilizers. They are mainly used in legumes, legumes, black grams, peanuts, and soybeans. Among all the microorganisms, rhizobium is mainly used due to its efficiency in fixing nitrogen as well as its popularity. Rhizobium is a symbiotic nitrogen fixing bacterium, which integrates atmospheric nitrogen and fixes it in the root nodules of crops.
North America is expected to hold the largest market share during the forecast period
The imposition of bans on the use of harmful chemicals and fertilizers in the agricultural industry by governments of North American countries has created high growth potential for biofertilizers. In addition, the growing acceptance of organic food by consumers is expected to expand the growth scope of key players. The United States has dominated the biofertilizer market by North America in 2020. The FDA introduced strict regulations for agricultural product quality standards, which should encourage the use of biofertilizers in the United States.
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This report includes a study on the marketing strategies and product portfolios of the major companies operating in the Biofertilizers market. The report presents leading company profiles such as Novozymes A / S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A / S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (United States), Rizobacter Argentina SA (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (United States), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur organic fertilizer (India), Valent BioSciences (United States), Aumgene Biosciences (India), Agrinos (United States), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India) and Valagro (Italy).
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