“Global Bio-Fertilizers Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2024”
The market of the bio-fertilizers is driving on the back of the growing adoption of eco-friendly fertilizers over the chemical fertilizers around the globe. The can be attributed to the rising awareness among people towards the adverse effects of chemical fertilizers on soil and the environment. Moreover, the growing fondness of consumers towards the organic food combined with various government initiatives in both developed and developing countries are some of the major factors behind the growth of agriculture sector, further leading to the enhancement of the bio-fertilizers market.
The global bio-fertilizers market accounted for USD 1,106.4 Million in 2016 and is believed to account for noteworthy market evaluation of USD 3,124.5 Million by the end of 2024. Further, the market of bio-fertilizers is predicted to expand at a CAGR of 14.2% over the period 2017-2024.
In terms of geographical segmentation, the global market of bio-fertilizers is divided into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, North America dominated the overall bio-fertilizers market in 2016 and is believed to hold its dominant position over the forecast period. This can be attributed to the encouragement by government to adopt advanced agricultural techniques in the region. Further, Spain, France and Italy are the dominating contributors behind the growth of the Europe market of bio-fertilizers, which contributed the total market share of 22.6% in bio-fertilizers market in 2016. Further, to meet the increasing population demands leading to the growing need for high agricultural yield is driving the Latin America bio-fertilizers market. The bio-fertilizers market in Latin America is expected to flourish with highest CAGR of 16.3% over the forecast period.
The global bio-fertilizers market is segmented by product type, by microorganisms, by crop, by form and by application, out of which, the crop segment is further segmented into cereals & grains, pulses & oil seeds, fruits & vegetables, fiber crops and others(plantation crops, forage crops). Owing to the adoption of effective fertilizers to fulfill nutrition requirement of crops by farmers across the world, the pulses and oil seeds segment is predicted to observe the growth rate of 2.6x over the forecast period, whereas the cereals and grains segment is predicted to dominate the market throughout the forecast period.
The Report titled “Global Bio-Fertilizers Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2024” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the global bio-fertilizers market which includes profiling of AZOMURES, Sigma AgriScience, Bio Power Lanka, Rizobacter S.A., Novozymes A/S, Lallemand Inc., Gujarat State Fertilizers and Chemical Ltd., International Panaacea Limited, National Fertilizers Limited and Risehop.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Bio-Fertilizers Market Outlook 2024”, analyses the overall global bio-fertilizers industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global bio-fertilizers market in near future.