The BioFertilizers market is projected to grow at a CAGR of 10.95% to reach US$3.422 billion in 2024 from US$1.834 billion in 2018. Biofertilizers are components that accelerate the microbial action of soil or seeds for the rapid growth of plants and crops. These are highly used in the agriculture industry. The need for quality food is the key factor responsible for market growth. The increasing global population, need for quality food and huge investments in research are some of the factors driving the market growth.
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides supplier and industry outlook; key industry and regional regulations which are determining the product specifications and a brief technological aspect of Biofertilizers. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
|Market size value in 2018||US$1.834 billion|
|Market size value in 2024||US$3.422 billion|
|Growth Rate||CAGR of 10.95% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Crop Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||GSFC, Madras Fertilizers Limited, Novozymes, Camson, Rashtriya Chemicals & Fertilizers Limited, Lallemand Inc., T. Stanes & Company Limited|
|Customization scope||Free report customization with purchase|
The segmentation for the Biofertilizers market has been done as follows:
By crop type:
Food and Vegetables
Europe Middle East and Africa
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