The demand for biofertilizers is witnessing strong growth since the last decade owing to its eco-friendly characteristics and a trend to reduce the reliance on chemically derived fertilizers. Biofertilizers are manufactured using living cells of microorganisms which help in the growth of crops by providing the required nutrients from the soil.
The global market for biofertilizers is expected to exceed a market worth USD 10.2 billion by 2018, growing at an approximate CAGR of 12.9% from 2012 to 2018. European and Latin American countries are the leading consumers of biofertilizers, owing to stringent regulations to replace chemical fertilizers with biofertilizers. Asia-Pacific shared approximately 34% of the total demand in 2011.
Some of the major factors which are driving the biofertilizers market include the growing concerns regarding the impact of chemical fertilizers on the environment along with its safety issues and the governmental support for producing biofertilizers. The growing demand for organic food is also acting as one of the major factors which are driving the market. However, the lack of awareness about the benefits of using biofertilizers for crop growth is a major factor which is inhibiting the market growth.
Asia-Pacific is one of the fastest growing markets for biofertilizers, owing to the strong demand from agricultural based countries such as China and India. China and India are growing at a GDP rate which is more than the global GDP growth rate. It is evident that Asia-Pacific holds immense opportunities for biofertilizer manufacturers.
Some of the major companies operating in the global biofertilizers market include Agri Life, Antibiotice S.A., Biomax, Camson Biotechnologies Ltd, CBF China Biofertilizers, Gujarat State Fertilizers & Chemicals Ltd., LABIOFAM S.A.., Novozymes, and numerous others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments