This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
PUNE, INDIA, November 11, 2019 /EINPresswire.com/ — Market Synopsis:
Bio-fertilizer has living microorganisms that enrich the growth of plants. The agricultural sector is observed to shift to the use of these fertilizers to contain the ill effects of the traditional fertilizers used before. In this report, the global bio-fertilizer market has been studied in length and breadth. It studies the market on the basis of segments and regions. The bio-fertilizer market, as per this analysis, exhibits huge prospects. It is anticipated to thrive at a healthy CAGR over the next couple of years. Its growth can be accredited to the effectiveness of the product in sustaining the life cycle of agriculture with efficiency.
Bio-fertilizer is being widely adopted by farmers around the world. The focus on food security is expected to enhance the growth rate of the bio-fertilizer market in the years to come. The exponential demand for food due to population explosion is presumed to boost market growth in the forthcoming years. In addition, the increasing pressure on the agricultural sector to minimize loss of production is also anticipated to impact the growth of the bio-fertilizer market positively in the foreseeable future. The key players are focused on research and development to enhance the quality of the product. It is further poised to expand the bio-fertilizer market in the upcoming years.
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The rising awareness about the hazards of pesticides is driving the growth of the bio-fertilizer market. The trend is forecasted to continue across the assessment period. In addition, the governments are also supporting the shift towards bio-fertilizer. Incentives and subsidies are being offered, which ensures that the market is likely to remain lucrative over the next couple of years. In addition, the rising demand for food grown using bio-fertilizer is expected to further drive market expansion in the nearby future.
The following manufacturers are covered:
Bio Power Lanka
Gujarat State Fertilizers and Chemicals
On the basis of application, the bio-fertilizer market has been segmented into fruits and vegetables, plantations, cereals, pulses and oilseeds, and others.
On the basis of type, the bio-fertilizer market has been segmented into nitrogen fixing bio-fertilizers, phosphate solubilizing bio-fertilizers, potash mobilizing bio-fertilizers, and others.
The assessment of the global bio-fertilizer market is included on the basis of regions in this analysis. Six key regions have been identified in this report, which are North America, Europe, China, Japan, Southeast Asia, and India. North America has been witnessing rising demand for food grown using bio-fertilizer. It is poised to drive market growth in the region. Europe is also anticipated to thrive saliently in the coming years. Countries such as India, China, and Japan are expected to exhibit tremendous potential on account of population explosion. The governments in these nations are not only focusing on the quantity but the quality as well. It is presumed to boost expansion pace of the bio-fertilizer market over the next few years.
In October 2019, Anubis Plant Nutrients, an agriculture startup, announced that it will be establishing its second facility in Plant City, Florida, for the production of bio-based fertilizers.
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Source: EIN Presswire