Biofertilizers market is natural fertilizers that contain bacteria, fungi, or other microbes. Microbes promote plant growth by supplying essential nutrients within the chemical fertilizers global market. Biofertilizers don’t cause pollution and are environmentally friendly and cost-effective to farmers.
About one-third of the world’s population is dependent on agriculture, the proportion is more in developing and underdeveloped countries. One of the main causes of limiting crop yield is soil infertility, to fill the void chemical fertilizers are used excessively to temporarily boost the nutrient content. But, long exposure to chemical fertilizers deteriorates soil and is a major contributor to water pollution. The use of organic fertilizers is steadily increasing, thanks to increased consciousness among urban customers.
The global market forecast shows components of the Biofertilizer market are different from organic fertilizers. The Biofertilizers market components utilize living microorganisms to boost soil nutrient levels. Organic fertilizers consist of animal or plant manure. Biofertilizers don’t have a strong pungent odor like organic and also eliminate the presence of harmful microorganisms.
Need for Biofertilizer
According to agriculture market research, increasing soil infertility leads to further use of chemical fertilizers which in the long run further deteriorates soil. Therefore, biofertilizer are significant as they directly integrate nutrient producers with nutrient consumers. As per Global Market Database, the Biofertilizers market, in the long run, will aid to restore soil fertility and correct heavy contamination caused due to the use of chemical fertilizers. With an emphasis on organic produce, farmers can expect a higher return for their produce, increase their income level.
According to the market database, Soil fertility refers to the presence of an appropriate proportion of elements present in the soil, elements ranging from Nitrogen, Potassium, Calcium, and other elements.
The Global Market states, Nitrogen is a primary macro-molecules necessary for plants in large quantities. It is used in RNA and DNA synthesis, protein formation, and the synthesis of plant hormones. Another important element, Potassium occupies second place in terms of the volume of necessary nutrients consumed by plants. Potassium regulates cell growth and water absorption by plants. It protects the plants against some variants of bacteria and fungus. Phosphorus is also a significant element promoting plant growth and is present in cell membranes. It is important in seed formation and is absorbed by plants in the form of phosphates.
Classification and analysis based on organism type
The Biofertilizers market integrates microorganisms and plants to provide the above listed necessary nutrients. Different classes of microbes help in fixing different types of nutrients in plants. The Biofertilizer market components can be classified into, Nitrogen Fixing biofertilizers (NBF), Global Market Database states, NBF’s dominate the biofertilizers market with 75% of global market share, this is attributed to excessive use of chemical fertilizers. NBF’s are used to correct the contamination of soil and water resources. Other components of the biofertilizers market such as Blue-green algae, Azotobacter, Rhizobium, and Azospirillum convert atmospheric nitrogen into nitrates that are absorbed by plants. According to market research Phosphate solubilizing bio-fertilizer (PSB), PSB’s has a market share of about 15% in the biofertilizers market. Bacterias like Pseudomonas, Aspergillus, and Bacillus, are used. Healthy plant growth demands high phosphorus content in the soil. The remaining 10% market share is occupied by other important types of biofertilizers like potassium, zinc, and other metals
Mode of application
According to the global market, biofertilizers use carrier elements to increase effectiveness. An ideal carrier material must be cheap and readily available, along with good pH buffering capacity, and contain high organic content. The Biofertilizers market procures its products in liquid form or powder form.
First, the microbes are carefully separated from their natural habitat, like legumes of plants and other sources. After which they are grown in Petri dish and later mass-produced. In the next stage, they’re fused with carrier material and marketed.
Market Factor’s for Biofertilizer
According to Market research, the major promoter is the increasing concern about food security. This coupled with concern about the impact of chemical fertilizers on the environment is fueling the growth. Market intelligence platforms show countries are emphasizing sustainable development and favorable policies for boosting the biofertilizers market.
According to market research tools, with higher population growth, food scarcity is a major issue for governments. This has translated to fuel innovation and government policies aimed at developing environment-friendly agricultural solutions.
A major limiting fact is the nutrient content of biofertilizers when compared to chemical fertilizers, which is low. They have a shorter shelf life and are not independent of external factors like temperature and other parameters that limit their effectiveness. Lack of technical support to farmers along with lack of awareness is limiting the biofertilizers market growth.
United States Market prospective
Market research suggests customers in the US are increasingly adopting organically grown agricultural produce. Soya bean an important crop in the US requires a high amount of nitrogen. Also, the share of organic fruits and vegetables is increasing. Market research suggests fruits and vegetables require a higher amount of Potassium and Phosphorus, compared to cereals and other produce. Fruits and vegetables are expected to drive the market. Leading organizations are funding/ sponsoring research projects in universities. When analyzed through market intelligence platforms, customer awareness and steady innovation in the market are projected to keep up the demand.