Portland, OR -- (SBWIRE) -- 06/26/2017 -- Bio-fertilizer is a substance that consists of living microorganisms, which help in the growth of plant by increasing the supply of nutrients to it. Increase in the use of bio-fertilizers is expected to reduce the demand for chemical fertilizers and pesticides as they hamper the health of the soil. The aim of this report is to provide an insight on the global bio-fertilizer markets current and projected trends and to carry out an in depth analysis of market potentials available. The report analyzes opportunities in the developed and emerging economies so that companies can make strategic decisions and gain competitive edge.
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There are certain factors, which act as drivers for bio-fertilizers market such as rising environmental awareness, enhancing soil fertility and increasing demand for organic food. Factors restraining the growth of bio-fertilizer market are lack of awareness and lower adoption rate by farmers. The unmet demand for fertilizers, formulation of favorable government policies and countries having agriculture dominant economy would provide growth opportunities for this market.
Based on types, the global market for bio-fertilizers is segmented into nitrogen fixing, phosphate fixing, potash mobilizing and others. Nitrogen fixing bio-fertilizer is one of the prominent substitutes for commercial nitrogen fertilizers. The market scope for this bio-fertilizer is vast, as it is majorly used as nitrogen source for rice. Rice is a prominent crop in many countries, namely India, China, Indonesia, Brazil, Japan and others, thus enhancing the market for the nitrogen fixing fertilizers.
Key Players of Market
The global bio-fertilizer market is very competitive due to the presence of some dominant manufacturers. Some of the key players in this market are Agri Life, Ajay Bio-Tech (India) Ltd, Antibiotice S.A., Biomax and others. Ajay Bio-Tech (India) Ltd is concentrating its resources on Western markets along with the Asian markets, as it believes that demand for bio-fertilizers in western countries will rise due the additional emphasis laid on organic food and eco friendly agriculture practices.
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- This report gives an insight on the bio-fertilizer types and its applications
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- Porter's five force and SWOT analysis would facilitate decision makers in making strategic decisions by providing insight on current market conditions and important factors
- Analysis of key market players and their strategies are been discussed in the report in order to understand the competition in better way
- Market segmentation is been conducted based on applications, types and geographic locations, which would assist companies in deciding on the segments of importance