Posted on 04 Jan 2019
Biofertilizers are produced using organic wastes such as struvite and compost which contain living microorganisms like bacteria, fungi, and blue-green algae. Biofertilizers offer numerous advantages over chemical fertilizers. They assist in restoring the soil’s natural nutrient cycle and building organic matter, thereby, maintaining the overall health of the soil.
In addition to this, they are eco-friendly unlike chemical fertilisers which cause environmental pollution. Owing to their various benefits, biofertilizers have today gained significance in the agriculture industry. According to a new report by Expert Market Research, the global biofertilizer market reached a value of around US$ 12 Billion in 2018 and is further expected to reach US$ 22 Billion by 2024.
The sturdy growth of the market can be accredited to a number of forces. On account of rising environmental awareness, there has been an increase in the implementation of regulatory policies by governments across various countries supporting the use of biofertilizers. Moreover, an inclination towards organic food by consumers have also augmented the demand for biofertilizers. Some of the other factors such as population growth coupled with rising disposable incomes have also broadened the growth aspects of the market. Although the penetration of bio-fertilizers is still at a nascent stage in most regions across the world, the market holds a plethora of opportunities.
Key findings from the report:
Click here for the summary of report: https://www.expertmarketresearch.com/reports/biofertilizer-market
Expert Market Research has analysed the global biofertilizer market according to type, end-use, major regions and top players:
Market breakup by Type
Market Breakup by End-use
Market breakup by Region
Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.
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