Pune, India, 29th July 2019:
The global biofertilizers market is likely to gain impetus from a rise in the
demand for organic products in various countries. According to a report, published
by Fortune Business Insights, titled
“Biofertilizers: Global Market Analysis,
Insights and Forecast, 2019-2026” the global biofertilizers market is
projected to reach US$ 3.15 Bn by
the end of 2026, exhibiting a CAGR of 11.3%. The market was valued at US$ 1.34 Bn in 2018.
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The report
further states that the world has been witnessing water and soil pollution due
to the tremendous usage of fertilizers that are infused with harmful chemicals.
This has led to the rapid adoption of biofertilizers as they are organic in
nature. Moreover, governments of numerous countries have been initiating
awareness campaigns in order to educate the farmers regarding the efficiency
and benefits of biofertilizers. All these factors are expected to boost the
global biofertilizers market growth during the forecast period.
"Rise in Demand for Organic Products to Favor Growth in South
America"
The global
biofertilizers market is geographically divided into South America, Asia
Pacific, North America, the Middle East and Africa, and Europe. Amongst these
regions, Europe and North America are two of the largest markets for
biofertilizers. They had cumulatively acquired approximately 55% global
biofertilizers market share. In North America, the market in countries, namely,
Mexico, the U.S., and Canada have been witnessing notable growth because of a
rise in the number of organic farms. The United States Department of
Agriculture (USDA) stated that the U.S. witnessed an annual growth of 13%
during the years 2015 and 2016 in the organic certified businesses and farms.
South
America, on the other hand, has begun emerging as the fastest-growing
biofertilizers market. Fortune Business Insights predicts that the region is
anticipated to provide immense growth opportunities to the key market players during
the forecast period. This is likely to occur as Brazil and Argentina are
witnessing an increasing demand for organic products. The Research Institute of
Organic Agriculture (FiBL) stated that Argentina was considered to be the
second-largest country in 2017, in terms of the highest share in the global
organic agricultural land after Australia. The country possessed approximately
3.4 million hectares of land.
"Norofert
Organics, Camson, and Other Key Players Aim to Promote the Usage of
Biofertilizers Through Strategic Collaborations"
Norofert
Organics, one of the largest producers of organic bio inputs in Romania, invented
an organic fertilizer in August 2018. The fertilizer has been made using BioChain
technology and it comes in the form of effervescent tablets. The company had
collaborated with prominent researchers of Croatia, Hungary, and the U.K. to
create the tablets. The efficiency of transporting the it in the field is one
of the major advantages of the effervescent tablet. Also, the tablet reduces
warehouse space as 1.2-kilogram container turns into a 250-gram tablet. There
is also a significant rise in the shelf life of the product that can increase
up to 5-7 years from 3-6 months.
Read More in this Press Release:
Camson Bio Technologies Ltd., the
first wholly integrated agricultural biotechnology company of India,
headquartered in Bangalore, collaborated with Krishi Rasayan, one of the oldest
agrochemical companies, based in Kolkata in December 2017. The joint venture
took place with the aim to create a state-of-the-art manufacturing facility and
advanced research and development activities. This will be done to promote the
production of biotechnological products, namely, bio-pesticides, biofertilizers,
natural fertilizers, and others.
For More Details, Click Here:
https://www.fortunebusinessinsights.com/industry-reports/biofertilizers-market-100413
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