According to a new report by Expert Market Research, the global biofertilizer market reached a value of around US$ 2.07 Billion in 2019 and is further expected to reach US$ 4.8 Billion by 2025.
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A biofertilizer is a substance containing living microorganisms which, when applied to seed, plant surfaces, or soil, colonises the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant. During 2014-2018, the global biofertilizer market grew at a CAGR of around 13%. The market is currently being driven by an increasing consumer adoption of organic foods, environmental hazards associated with chemical fertilizers and increasing promotion and favourable regulatory policies related to bio-fertilizers by various governments across the globe. This report by Expert Market Research entitled “Biofertilizer Market Report and Forecast 2019-2024” provides a comprehensive analysis for anyone who plans to foray into the biofertlizer market.
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Market breakup by Type:
- Nitrogen-Fixing
- Phosphate-Fixing
- Others
Market Breakup by End-use:
- Seed Treatment
- Soil Treatment
- Others
Market breakup by Region:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Competitive Landscape:
- Novozymes A/S (CPH: NZYM-B)
- National Fertilizers Limited (NSE: NFL)
- Rizobacter Argentina S.A.
- Lallemand Inc.
- Nutramax Laboratories Inc
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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