A comprehensive overview of the Biofertilizers market is recently added by UnivDatos Market Insights to its humongous database. The Biofertilizers market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Biofertilizers market. The Biofertilizers market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Biofertilizers market at the global and regional levels. The Global Biofertilizers Market is expected to grow Higher by 2027.
Increased number of organic producers is anticipated to propel the demand for Biofertilizers in the forthcoming years. For instance, in 2018, there were 2.8 million organic farmers reported. India continues to have the most producers (1,149,000), followed by Uganda (210,000), and Ethiopia (204,000). The high cost of organic food transportation aided this trend. For example, the European Union imported 3.24 million metric tonnes (MT) of organic agri-food items in 2019.
Furthermore, factors such as increased population has increased the need for organic food this has resulted in increased demand for biofertilizers, globally. In 2021, the global population is around 7 billion people, half of the global population is living in Asia, while one quarter of the global population resides in Africa. Moreover, the consumption of biofertilizers for agriculture use has significantly increased in Asia-Pacific region. As per Food and Agriculture Organization of the United Nations, in 2019, Asia used 6,258,499 tonnes of nitrogen nutrient and 24,051,102.26 tonnes of nutrient phosphate.
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The COVID19 has resulted in a profound re-evaluation of the advantages and costs of biofertilizers. The pandemic has been a devastating disease worldwide. However, biofertilizers has witnessed a relatively stable market growth post-COVID-19 pandemic, with a similar trend of high demand in 2020 due to the increased demand for organic food. For instance, according to Nielsen, US organic food sales increased by 25% by July 2020. In the UK, organic food sales rose by 18% in the 12 weeks before June 2020. Biofertilizers can be developed easily, and therefore, are run by local manufacturers. As the produce can be manufactured by local businesses, the supply chain has been relatively unaffected by the crisis. As a result, in most nations, domestic producers are expected to dominate the market. For instance, in 2020 the soyabean production reached 124.84 million metric tons (mmt) from 115.03 mmt and is expected to reach 133.69 mmt by 2020/21.
Global Biofertilizers Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into
Nitrogen fixing biofertilizers segment dominated the by product of the global Biofertilizers market and will row at X% CAGR to reach US$ X billion by the year 2027.
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By Microorganisms, the market is primarily segmented into
Amongst microorganisms, cyanobacter accounted for the largest share in 2020 and is expected to grow at X% CAGR during the forecast period 2021-2027.
By Crop, the market is primarily segmented into
Amongst crop, cereals & grains accounted for the largest share in 2020 and is expected to grow at X% CAGR during the forecast period 2021-2027.
By Application, the market is primarily bifurcated into
Seed treatment segment dominated the by application of the global Biofertilizers market and will row at X% CAGR to reach US$ X billion by the year 2027.
Biofertilizers Market Geographical Segmentation Includes:
Based on the estimation, the North America region dominated the Biofertilizers market with almost US$ X billion revenue in 2020 on account of the increasing population and rising demand for organic food.
The major players targeting the market includes
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Biofertilizers market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Biofertilizers market?
• Which factors are influencing the Biofertilizers market over the forecast period?
• What are the global challenges, threats, and risks in the Biofertilizers market?
• Which factors are propelling and restraining the Biofertilizers market?
• What are the demanding global regions of the Biofertilizers market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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