The increasing demand for natural and organic food is a key driver of the global mycorrhizae-based biofertilizers market.
According to TechSci Research report, “Mycorrhizae Based Biofertilizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global mycorrhizae based biofertilizers market Size is USD 570.76 million in 2022 and is anticipated to increase at a CAGR of 7.07% in the forecast period. A significant factor fueling the growth of global mycorrhizae based biofertilizers market is the growing demand for organic & natural food. Mycorrhiza is a fungus that establishes a symbiotic relationship with the plant root system.
It increases the root surface area of the plants, which in turn enhances the nutrient uptake of the plants. Mycorrhizal fungi play a crucial role in extracting nutrients, such as phosphorus and micronutrients, from the soil and delivering them to plant roots. This translates to improved nutrient content in crops, enhancing the nutritional value of organic food.
By promoting nutrient cycling and improving soil structure, mycorrhizae contribute to long-term soil health and fertility. This sustainable approach reduces the need for chemical inputs, benefiting both the environment and the farmer’s bottom line. Moreover, the use of mycorrhizae-based biofertilizers reduces the leaching of nutrients into water bodies, minimizing water pollution.
Additionally, their ability to enhance plant resilience can decrease the need for pesticides and other chemical treatments. Along with this, mycorrhizal fungi have been associated with increased carbon sequestration in soils, contributing to efforts to mitigate climate change will result in enhancing the global mycorrhizae based biofertilizers market in the forecast period.
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Furthermore, the market is being further stimulated by rising demand for sustainable food and flavors, rising research and innovation regarding mycorrhizae based biofertilizers, and growing need for soil improvement.
However, the high costs of mycorrhizae based biofertilizers due to several factors such as the identification and selection of effective mycorrhizal strains slows down the growth of global mycorrhizae based biofertilizers market. Also, the limited shell life of these biofertilizers and lack of knowledge of organic farming further slowdown the global mycorrhizae based biofertilizers market growth.
The mycorrhizae based biofertilizers market is segmented based on type, form, mode of application, application, and region.
Based on type, the market is divided into endomycorrhizae and ectomycorrhizae. Endomycorrhizae is expected to hold the largest market share in the forecast period with 79.48% in 2023. Endomycorrhizae, an arbuscular mycorrhiza (AM), is characterized by fungal hyphae that penetrate the root cells of plants, forming intricate structures called arbuscules and these structures enable efficient nutrient exchange between the fungus and the plant.
Based on form, the market is categorized into liquid and solid. Liquid is expected to hold the largest market share in the forecast period with 59.33% in 2023. This is due to increasing focus on the liquid fertilizers as these fertilizers are easily dissolved in water and absorbed by the pores of soil.
Based on mode of application, the market is segmented into soil treatment, seed treatment, and fertilization treatment. Soil treatment is expected to hold the largest market share in the forecast period with 41.46% in 2023. This is due to their ease of application as soil treatment methods are relatively simple and compatible with existing agricultural practices, making it accessible to a wide range of farmer.
Based on application, the market is segmented into agricultural and non-agricultural. Agricultural segment is expected to hold the largest market share in the forecast period with 85.42% in 2023. This is due to large utilization bio-based fertilizers in the agricultural purposes which increase the crop yield and make soil healthy by providing proper protection against different harmful effects.
Major companies operating in the global mycorrhizae based biofertilizers market are:
- UPL Limited
- Novozymes A/S
- Premier Tech Ltd
- Plant HealthCare plc
- Groundwork BioAg Ltd.
- Vegalab SA
- Atens-Agrotechnologias Naturales S.L.
- Valent BioSciences LLC
- Lallemand Inc.
- Coromandel International Limited
- Agri Life (India) Private Limited
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“Europe region is expected to grow at the highest rate during the forecast period due to presence of strong agricultural sector which provides the necessary biofertilizers. Many countries including France, Germany, and United Kingdom are the leading producers of mycorrhizae based biofertilizers. Europe is known for its strong emphasis on sustainability and environmental conservation. Along with this, European governments and regulatory bodies have shown a willingness to support environmentally friendly agricultural practices creates lucrative opportunities for market growth.
Furthermore, in North America, large number of research & development activities and various sustainability initiatives by the government including the development and promotion of mycorrhizae based biofertilizers can create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Mycorrhizae Based Biofertilizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Endomycorrhizae, Ectomycorrhizae), By Form (Liquid, Solid), By Mode of Application (Soil Treatment, Seed Treatment, and Fertilization Treatment), By Application (Agriculture, Non-Agriculture), By Region and Competition”, 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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