The continuous use of chemical fertilizers is harmful for environment and human health. The need for eco-friendly fertilizers like biofertilizers can encourage crop productivity and quality of soil.
In-Depth research report on Biofertilizers Market: https://goo.gl/ZWUKyS
Biofertilizers – For Larger Yields
Biofertilizers assist plants and crops in their production cycle. They comprise nitrogen-fixing bacteria that provide essential nutrients to plants by symbiosis. Different types of biofertilizers include Azospirillum, Azotobacter, Azolla, Cyanobacteria, and Rhizobium. These bacteria can increase crop yield by 10% to 40% and mitigate the environmental damage caused by agrochemical fertilizers.
Liquid biofertilizers have an advantage over conventional fertilizers due to their long shelf life. Their ability to replenish the soil with nutrients can be profitable for farmers. Root dipping, seed treatment, and soil application are the three major ways to use these substances on crops.
Alliances – Vital to Market Expansion
In India, state governments are encouraging farmers to use liquid biofertilizers to increase their paddy production. Farmers reportedly attained better quality crops such as papaya, turmeric, banana, and potato after using these substances. The Gujarat State Fertilizers & Chemicals (GSFC) Limited has created a complex to expand the production of biofertilizers and water soluble fertilizers.
Companies are relying on alliances to get a sizeable share of the global market. For instance, Italpollina and Albaugh agreed to collaborate in order to deliver seed treatment solutions in the U.S. in 2014. Similarly, Novozymes and Monsanto AG also decided to ally with each other in the same year to grow their respective businesses. The Acceleron B-300 SAT is being applied to all genetically modified crops of Monsanto to increase their annual yield.
Market Outlook
The worldwide biofertilizers market is projected to attain high value by 2021, according to a report on Radiant Insights, Inc. The need for eco-friendly alternative for agrochemicals is expected to drive market throughout the forecast period (2017 to 2021). Government campaigns are being implemented to create awareness among farmers by offering them subsidies and financial incentives.
Market segments such as nitrogen fixing may continue witnessing impressive growth in terms of demand over the forecast period. The fruits and vegetables segment is anticipated to gain a major market share in near future on account of growing consumer preference for organic fruits. North America may continue dominating the global market in near future. Prominent market players include Novozymes A/S, Biomax Technologies, Mapleton Agri Biotec Pty Ltd., and Italpollina.
Biofertilizers assist plants and crops in their production cycle. They comprise nitrogen-fixing bacteria that provide essential nutrients to plants by symbiosis. Different types of biofertilizers include Azospirillum, Azotobacter, Azolla, Cyanobacteria, and Rhizobium. These bacteria can increase crop yield by 10% to 40% and mitigate the environmental damage caused by agrochemical fertilizers.
Liquid biofertilizers have an advantage over conventional fertilizers due to their long shelf life. Their ability to replenish the soil with nutrients can be profitable for farmers. Root dipping, seed treatment, and soil application are the three major ways to use these substances on crops.
Alliances – Vital to Market Expansion
In India, state governments are encouraging farmers to use liquid biofertilizers to increase their paddy production. Farmers reportedly attained better quality crops such as papaya, turmeric, banana, and potato after using these substances. The Gujarat State Fertilizers & Chemicals (GSFC) Limited has created a complex to expand the production of biofertilizers and water soluble fertilizers.
Companies are relying on alliances to get a sizeable share of the global market. For instance, Italpollina and Albaugh agreed to collaborate in order to deliver seed treatment solutions in the U.S. in 2014. Similarly, Novozymes and Monsanto AG also decided to ally with each other in the same year to grow their respective businesses. The Acceleron B-300 SAT is being applied to all genetically modified crops of Monsanto to increase their annual yield.
Market Outlook
The worldwide biofertilizers market is projected to attain high value by 2021, according to a report on Radiant Insights, Inc. The need for eco-friendly alternative for agrochemicals is expected to drive market throughout the forecast period (2017 to 2021). Government campaigns are being implemented to create awareness among farmers by offering them subsidies and financial incentives.
Market segments such as nitrogen fixing may continue witnessing impressive growth in terms of demand over the forecast period. The fruits and vegetables segment is anticipated to gain a major market share in near future on account of growing consumer preference for organic fruits. North America may continue dominating the global market in near future. Prominent market players include Novozymes A/S, Biomax Technologies, Mapleton Agri Biotec Pty Ltd., and Italpollina.
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