The global biofertilizers market is estimated to grow at a CAGR of nearly 11.0% during the forecast period. There is an increasing trend towards organic farming across the regions. As per the Eurostat, in the EU, the total area under organic farming is constantly increasing, covering 13.4 million hectares of agricultural land in 2018. EU organic area grew by 70% in the last ten years. In 2018, the organic area consists of 7.5% of the total EU agricultural land. Moreover, in India, the total certified organic area is 3.56 million Hectare (2017-18). In 2018, India produced nearly 1.70 million tons of certified organic products which comprises a range of food products including sugar cane, oil seeds, cereals & millets, medicinal plants, cotton, pulses, tea, dry fruits, fruits, spices, coffee, vegetables, and more.
Browse the full report description Global Biofertilizers Market Size, Share & Trends Analysis Report, By Type (Nitrogen Fixing, Phosphate Solubilizing, and Others), By Crop Type (Cereals and Grains, Oil Seeds and Pulses, Fruits and Vegetables, and Others), By Application (Soil Treatment and Seed Treatment) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/biofertilizers-market
Among several states in India, Madhya Pradesh is the largest producer of organ products, which is followed by Maharashtra and Karnataka. In commodities, oil seeds are the major category followed by sugar crops, fiber crops, pulses, cereals and millets, medicinal, aromatic plants, herbal and spices and condiments. The country also exports organic products to other countries. During 2017-18, the total volume of export for organic products was 4.58 lakh million tons. The realization from organic food exports was nearly $515.4 million. The country exports organic products to the US, EU, Australia, Canada, Switzerland, Vietnam, Israel, New Zealand, South Korea, Japan, and more.
The rising inclination towards organic farming has been witnessed owing to the harmful effects of chemical fertilizers. There is a significant amount of nitrogen content in fertilizers. Excessive use of nitrogen in crop fertilization can lead to the release of greenhouse gases including nitrous oxide and carbon dioxide into the atmosphere. This effect is resulted due to the utilization of a greater amount of chemical fertilizer as compared to the plants can readily absorb. Therefore, chemical fertilizers have a considerable negative impact on the environment and plant health. This results in the increasing preference of organic fertilizers as they stimulate the amount of organic matter and enhance soil texture and structure.
As a result, the organic farm area has been growing continuously across the countries to meet the demand for organic food and maintain soil performance. In addition, favorable government initiatives for organic farming practices are supporting the growth of the market. In 2015, the Indian government introduced Paramparagat Krishi Vikas Yojana (PKVY) which is intended to support and promote organic farming, which leads to the improvement of soil health. Such kinds of government initiatives are supporting to promote organic farming and thereby driving the global biofertilizers market.
Global Biofertilizers Market- Segmentation
By Type
By Crop Type
By Application
Global Biofertilizers Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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