Albany, NY -- (SBWIRE) -- 01/28/2016 -- Albany, New York, September 29, 2015: Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled "Biofertilizers Market (Nitrogen Fixing, Phosphate Solubilizing and Others) for Seed Treatment and Soil Treatment Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019". The report, by Transparency Market Research, forecasts that the global biofertilizers market was estimated at US$440.0 mn in 2012 and is predicted to reach US$1,028.7 mn by 2019, expanding at a striking CAGR of 13.0% from 2013 to 2019.

The biofertilizers market has been studied in detail via this report and a forecast has been deployed on both the regional as well as global level. The demand of biofertilizers has been predicted in terms of revenue. The report has been collated by conducting extensive interviews with top industry leaders and is a mix of both primary and secondary research. The report provides definitions and classifications of biofertilizers and states that biofertilizers are the substances comprising living microorganisms that expedite the growth of plants by providing adequate supply of essential nutrients to the main plant. A number of biofertilizers including Azotobacter, Azospirillium, and Rhizobium are utilized for seed and soil treatments.

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On the basis of product, the biofertilizers market is segmented into phosphate solubilizing, nitrogen fixing, and others. Amongst these, in 2012, nitrogen fixing stood as the most highly consumed type of biofertilizers in the market and constituted more than 78% of the market. On the other hand, phosphate solubilizing biofertilizers are predicted to exhibit the swiftest growth in the coming years. The report also segments the market based on application into seed treatment and soil treatment. Amongst these, the demand for biofertilizers was the greatest from seed treatment and represented a share of around 72% in the market. This demand is due to the increasing environmental concerns via the usage of chemical fertilizers and advancement in technology.

The report describes a number of market dynamics such as market drivers, inhibitors, opportunities, and trends prevalent in the market. The major drivers fuelling the biofertilizers market include exponential growth in demand from the organic food market, support and funding by governments favoring the use and production of biofertilizers, and rising awareness on the lethal environmental effects of chemical fertilizers.

On the basis of geography, the biofertilizers market has been segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). The report predicts that amongst these, North America led the biofertilizers market in 2012 and was followed by RoW. The superiority of North America is due to the rising demand for organic food products in this region. However, Asia Pacific is predicted to expand at the highest growth rate due to rising consumer awareness about the hazardous effects of synthetic fertilizers.

The key players in the market are Antibiotice S.A., Agri Life, Gujarat State Fertilizers & Chemical Ltd., Novozymes, Lallemand Inc., National Fertilizers Ltd., Symborg S.L, and Madras Fertilizers Ltd., among others.

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