Product ID: SQMIG15C2071
Global Biofertilizers Market Size, Share, Growth Analysis, By Product(Nitrogen Fixing, Phosphate Solubilizing), By Microorganism(Rhizobium, Azotobacter), By Form(Liquid, Carrier-Based), By Application(Seed Treatment, Soil Treatment), By Crop Type(Cereals, Pulses & Oilseeds) - Industry Forecast 2024-2031
Report ID:
SQMIG15C2071 |
Region:
Global |
Published Date: February, 2024
Pages:
256
|
Tables:
146 |
Figures:
78
Global Biofertilizers Market Dynamics
Biofertilizers Market Driver
- Increasing emphasis on organic agriculture to drive the global biofertilizers market growth
According to the Research Institute of Organic Agriculture, 72.3 million hectares of agricultural land was maintained by organic agriculture globally in 2019. Organic farming is one of the fastest-growing agricultural practises worldwide. Synthetic fertiliser harms microorganisms and contaminates the soil. The use of organic farming is spreading quickly as a means of reducing soil degradation. In contrast to conventional agriculture, which uses agrochemicals, genetically modified organisms, and numerous synthetic chemicals as food additives, organic farming makes the most efficient use of regional resources to increase soil fertility. Farmers are further encouraged to use appropriate bio-based fertilisers to produce organic food by the increased demand for organic food.
- Rising governmental support to boost the growth of the global biofertilizers market
The governments of many countries have been pushed to promote bio-fertilizers due to the growing concern over the diminishing soil quality caused by excessive use of chemical fertilisers and their potential negative effects on human health. Various plans, schemes, and other measures are being chosen by governments in a number of Agri-dominant nations to encourage farmers to use bio-based fertilisers. Additionally, numerous governments have passed comprehensive economic recovery plans that feature additional liquidity, tax flexibility, and subsidies for the agricultural and food industries, all of which are expected to have a favourable impact on the increase of the economy's output. Governments also created specialised initiatives relating to agriculture and food at the same time. For instance, the Green Food System Strategy, which was unveiled by Japan's Ministry of Agriculture, Forestry, and Fisheries (MAFF) in August 2021, calls for the widespread use of bio-pesticides and biological fertilisers as a result of technological advancements to cut back on the use of fertilisers and agricultural chemicals.
Biofertilizers Market Challenge
- High production cost of biological fertilizers to restrict the biofertilizers market growth
The production cost of biological and organic fertilizers is comparatively higher than conventional fertilizers as specific machinery and equipment are required for their production. For the near future, it is predicted that this factor will hinder market growth. Additionally, the cost of biofertilizers is increased by the fact that they include live microbial cells, which have a limited shelf life (about six months at 20–25°C). These cells require special handling during storage and shipment and require extra care and precaution. Low shelf-life and limited adaptability are thus expected to further impede market expansion during the projection period.
- Lack of awareness and low adoption rate of biofertilizers
A challenge for the global biofertilizers market is the lack of knowledge among farmers concerning biofertilizers in developing and impoverished nations. Since chemical fertilisers are simple to use, farmers prefer to use them. This is caused due to lack of knowledge and training. Additionally, one of the reasons for the slow adoption of biofertilizers is the fact that traditional fertiliser enterprises have a wide range of product offers and a strong distribution network due to the market's established position for chemical fertilisers. Also, due to the market's extreme geographical fragmentation, consumers are becoming less and less familiar with various brands. Farmers are confused as a result of this ignorance.
Global Biofertilizers Market Report Snapshots
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