Mycorrhizae Based Biofertilizers Market to Grow with a CAGR of 7.07% through 2028
Growing demand for natural & organic food is the
major driver of 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.
Browse over 137 market data Figures spread
through 249 Pages and an in-depth TOC on the "Global
Mycorrhizae Based Biofertilizers Market.”
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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