Growing demand for organic food is expected to drive the growth of global Mycorrhizae Based Biofertilizers in the forecast period, 2024-2028. According to the TechSci Research report, “Mycorrhizae Based Biofertilizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global Mycorrhizae Based Biofertilizers market is anticipated to grow at an impressive rate in the forecast period, 2024-2028.
The important Factors of Mycorrhizae Based Biofertilizers Market
This can be ascribed to the increasing consumer awareness about growing health risks and increasing levels of residues in food and other environmental issues is expected to drive the growth of the market. Similarly, growing demand from quality management systems for delivering better microbial products to farmers is anticipated to boost the growth of the market over the years. Also, growing food demand due to the increasing population and the need for sustainable agricultural development is expected to boost the growth of the market in the forecast period.
However, limited shelf life and pose a high risk of contamination in biofertilizers may hamper the market in the forecast period. Similarly, the growing demand for synthetic fertilizers and the reduced availability of research and development and testing laboratories in developing and underdeveloped regions may restrain the growth of the market during the forecasted period. Also, the high cost of agriculture equipment may hamper the mycorrhiza-based biofertilizer market growth during the forecast period.
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The Global Mycorrhizae Based Biofertilizers market can be segmented by type, form, mode of application, application, and by region.
Based on Form, the global Mycorrhizae Based Biofertilizers market can be divided into Liquid and Solid. The liquid segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Increasing demand for the usage of liquid biofertilizer for the growth of plants by enhancing nutrient acquisition and promoting growth hormones along with increasing the resistance in plants against pathogens and the surface area of the root system for better absorption of nutrients will further boost the growth of the market during the forecasted period.
Based on the Mode of Application, the market can be divided into Seed Treatment, Soil Treatment, and Fertilization Treatment. The seed treatment segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Increasing demand for protecting the seed and seedlings from different diseases and also insect pests affecting crop emergence and growth will further demand the market in the forecasted period. Also, if it is treated before planting then we can control rhizome rot and other seed-borne diseases, and the growing demand for inducing early germination will drive the growth of the market.
Major companies operating in the global Mycorrhizae Based Biofertilizers market are:
- Novozymes A/S
- UPL Limited
- Premier Tech Ltd.
- Groundwork Bioag Ltd.
- Plant Health Care Plc.
- Valent BioSciences Corporation
- Atens-Agrotechnologias Naturales S.L.
- Vegalab S.A.
- Lallemand Inc.
- Agrinos Inc.
- Agrilife Limited
For instance, in 2020, the Indian government introduced many schemes encouraging the vital usage of mycorrhiza-based biofertilizers instead of chemical fertilizers, including many districts in India. Under the National Mission on Oilseeds and Oil Palm (NMOOP), financial assistance of 50% subsidy of USD 4.09 (INR 300) per hectare is being provided for different components such as biofertilizers the supply of rhizobium culture, the phosphate-solubilizing bacteria, and mycorrhiza.
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“North America is expected to dominate and register the highest growth in the global Mycorrhizae Based Biofertilizers market on account due to the increasing demand for organic products for maintaining a healthy lifestyle along with growing acceptance of mycorrhizae-based fertilizers among rural farmers across the region. Similarly, the high adoption rate of organic farming systems is expected to create significant growth during the forecasted period. Also, the growing demand for advanced irrigation systems such as drip and sprinklers for better producing the better-quality crop will further drive the growth of the market over the years. Additionally, the growing demand for organic farming and increasing the population will demand for best quality food which will further drive the growth of the market in the forecasted period. Furthermore, increasing research activities in the agricultural field due to the growing demand for how genetics, epigenetics, environmental pressures, and crop management effects are further contributing to the demand for mycorrhiza-based biofertilizers and further expected to support the market growth. Additionally, due to availability of arable land and strong population growth has led to an increase in demand for food thereby creating lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Mycorrhizae Based Biofertilizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Ectomycorrhiza, and Endomycorrhiza,), By Form (Liquid v/s Solid), By Mode of Application (Seed Treatment, Soil Treatment, and Fertilization Treatment), By Application (Agricultural and Non-agricultural) and By Region”, has evaluated the future growth potential of global Mycorrhizae Based Biofertilizers market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Mycorrhizae Based Biofertilizers market.
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