Biofertilizers are products containing carrier-based (solid or liquid) living microorganisms, which are agriculturally useful in terms of nitrogen fixation, phosphorus solubilization, or nutrient mobilization, to increase the productivity of the soil and/or crop, according to the National Center of Organic Farming (NCOF).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=856
High demand projected for phosphate-solubilizing bacteria during the forecasted period
Phosphate-solubilizing bacteria (PSB) are suitable for hydrolyzing both organic and inorganic phosphorus from insoluble compounds. The phosphate solubilization ability of microorganisms is considered to be one of the most significant traits associated with plant phosphate nutrition. These bacteria convert the insoluble forms of phosphate to soluble forms by producing organic acids. They also help reduce about 25% of the chemical phosphatic fertilizer input to crops such as paddy & millets and crop types such as oilseeds, pulses, and vegetables. The demand for these bacteria is projected to increase by 14.91% during the forecast period.
High-growth opportunity for biofertilizers application through seed treatment
The seed treatment application is projected to be the fastest-growing at CAGR of 14.86% from 2016 to 2022, due to the ease of application and effectiveness under most conditions.
Applying biofertilizers through seed treatment refers to coating of seeds with small amounts of functional microorganisms that enable the plant to draw nitrogen from the air and deposit it into their roots when the seeds are sown. Seed treatment is widely carried out for legume seeds for nitrogen fixation. Powder and granular biofertilizers are most commonly used for seed treatment. Powdered biofertilizers stick to the seeds before planting. On the other hand, granular biofertilizers are used for large-seeded legumes such as beans, soybeans, and pulses. Granular biofertilizers are particularly useful when pesticide-coated seeds are planted or when excessive seed handling can damage the seed coat. Since the particle size is larger than the powder (of granular biofertilizers), it allows biofertilizers to flow through an insecticide or fungicide.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=856
Nitrogen-fixing biofertilizers are used widely in for fixing atmospheric nitrogen
There is a growing demand for products with multi-functional properties, such as biofertilizers containing more than one microorganism are currently gaining importance in the market. Hence, emphasis is given on to the production of bacterial isolates that could be developed as multifunctional biofertilizer microorganisms. For instance, Bio-N and Bio-Spark, are approved products comprising multi-strain consortia that showed a defined positive effect.
Major players in biofertilizers market
Some prominent players in the global biofertilizers market are Gujarat State Fertilizers & Chemicals Ltd. (India), Novozymes A/S (Denmark), Rizobacter Argentina S.A. (Argentina), Lallemand Inc. (Canada), and Camson Bio Technologies Limited (India).
Novozymes A/S (Denmark) held the leading position in the biofertilizers market in 2015. Novozymes A/S provides a wide range biofertilizers through its agriculture & feed segment. It focuses on expansions and agreements as its key business strategies to ensure its growth in the biofertilizers market. For instance, Novozymes entered into agreement with Monsanto Company (US) in December 2013 to establish the BioAg Alliance; for the development and production of advanced microbial products for agriculture.
