Our in-depth analysis of the global blue-green algae fertilizer market includes the following segments:
By Crop Type
On the basis of geographical analysis, the global blue-green algae fertilizer market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of growing demand of organic food amongst the masses, supported by rising health awareness in the region. Additionally, high individual disposable income is another major factor estimated to boost the market growth.
The market in the Asia Pacific region is estimated to experience significant growth over the forecast period, owing to the large population, high dependance on agriculture for a living, in the developing countries, along with growing government concerns regarding the use of fertilizers in crops. Large number of people practicing farming in India and China, is estimated to boost the market growth.
The global blue-green algae fertilizer market is further classified on the basis of region as follows:
· November, 2020: ILSA S.p.A. launched FERTIL 10 and a new range Ilsalife Plus biofertilizer for organic farming
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing adoption of biofertilizers by farmers, and growing government initiative to reduce nitrogen pollution are estimated to boost the market growth.
Ans: The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Lack of awareness amongst farmers is estimated to hamper the market growth.
Ans: The market in the Asia Pacific is estimated to provide most growth opportunities over the forecast period on the back of large population of farmers, and increasing government initiatives to promote organic farming.
Ans: The major players in the market are Coromandel International Limited, Scotts Miracle-Gro Company, Tata Chemicals Limited, Multiplex Group of Companies, Italpollina S.p.A., The Fertilisers and Chemicals Travancore Limited, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by end-user, crop type, and by region.
Ans: The organic farms segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities on the back of growing the adoption organic farming.