The global blue-green algae fertilizer market is estimated to grow at a noteworthy CAGR over the forecast period, i.e., 2022 – 2030. Blue-green algae (BGA), also known as, cyanobacteria, have been developed as a prominent part of organic farming, as these organisms act as a fertilizer for the soil. The growth of the market can be attributed to the increasing trend of organic fertilizers and pesticides over chemicals, backed by rising environmental awareness. Chemical-based fertilizers pollute the crop, seep into ground polluting the groundwater, and accumulate in the water bodies, causing loss of aquatic life. Moreover, these fertilizers make the soil barren overtime, and are non-biodegradable. Excessive use of chemical fertilizers was responsible for massive water pollution, which is why organic or bio-fertilizers were introduced. BGA is one of the primarily used biofertilizer, owing to its nitrogen fixing properties. Use of BGA can reduce urea by almost 25% with an overall 4% increase in the yield for paddy crops. This is estimated to boost the market growth. Moreover, government initiatives to curb the pollution caused by ammonia-based fertilizers is also expected to boost the market growth. UNEP established a campaign “Halve Nitrogen Waste”, which aims to cut the nitrogen emission in air and water by 50% by 2030.
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The blue-green algae fertilizer market is segmented by end-user into organic farms, nursery, domestic, and others, out of which, the organic farms segment is anticipated to hold the largest share in the market on account of rising adoption of organic farming, especially in developed countries, coupled with government initiatives to promote the use of BGA on a mass level. Moreover, subsidies on biofertilizers, along with specific stores for organic produce are some of the factors estimated to boost the segment growth.
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:
Our in-depth analysis of the global blue-green algae fertilizer market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing adoption of biofertilizers by farmers, and growing government initiative to reduce nitrogen pollution are estimated to boost the market growth.
The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2022 – 2030.
Lack of awareness amongst farmers is estimated to hamper the market growth.
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.
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.
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.
The market is segmented by end-user, crop type, and by region.
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.
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