Biofertilizers Market to hit USD 3 billion by 2024

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Global Biofertilizers Market Research Report,
2017 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Biofertilizer Market

• Large availability of synthetic fertilizers at
  competitive price coupled with lack of awareness
  among farmers may restrain market expansion.
  Organic farming education among farmers and low
  biofertilizers market price trend will be among
  the key strategies to drive industry growth.
• Fruits vegetables will witness growth over 12
  through to 2024. The product is used to improve
  the protein percentage and enhances the fruit
  plumpness. Shift in consumer preference for
  organic fruits vegetables will fuel business
  growth.
• Soil treatment will witness over 11 CAGR up to
  2024. Necessity to maintain salt content and
  salinity level of soil will play a key role in
  stimulating product demand.

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Continued...

• Dry formulation biofertilizers accounted for more
  than 70 of the overall industry demand in 2016.
  Easy handling along with wide availability at
  competitive prices have encouraged product
  penetration. Liquid formulations will witness
  fastest growth over 12 up to 2024.
• North America biofertilizers market catered over
  40 of the global demand in 2016. Stringent
  regulations on chemical fertilizers usage along
  with increasing consumer spending on organic food
  will drive the regional industry growth.
• China biofertilizers market will witness over 12
  CAGR up to 2024. Inclination towards healthy
  lifestyle along with increase in farming
  expenditure will drive the industry growth.
• Global industry share includes Novozymes,
  National Fertilizers, Rizobacter Argentina,
  Camson Bio Technologies, Nutramax Laboratories,
  CBF China, AgriLife, Biomax, Symborg Labiofam,
  Antibiotice and Mapleton Agribiotec.

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U.S. Biofertilizers Market Size, By Product, 2016
2024 (Tons)

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360 Analysis

• Product Analysis
• Need to improve crop productivity and yield per
  hectare to meet demand and supply gap are the key
  features enhancing the biofertilizers market
  growth. Increase in bio inputs consumption has
  significantly enhanced the land productivity.
• Regional Analysis
• North America accounted for more than 40 of the
  overall industry share in 2016. High disposable
  income coupled with increased consumer preference
  towards organic food are the key driving factors
  of the industry growth.
• Competitive Market Share
• Global biofertilizers market share is fragmented,
  owing to the large number of regional producers.
  BF China Biofertilizers AG and Novozymes A/S are
  the major players. Other key players include
  AgriLife, Mapleton Agribiotec, Biomax, Labiofam
  S.A., Antibiotice S.A. and Symborg S.L.

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