Market Leader - Biofertilizers Market

The biofertilizers market is highly fragmented with key market players driving the growth of the biofertilizers with agreements, expansions, acquisitions, and new product launches. Several companies, mainly small- to medium-sized, are present worldwide and have been manufacturing biofertilizers similar in quality and quantity for decades. The market is competitive with prominent players being involved in the research & development of a new range of biofertilizers. The market provides aid to applications such as plant growth promoting micro-organisms, bio-control agents, and plant resistance stimulants.

Green and eco-friendly technology is gaining significance in the agriculture industry, such as microbial products or products based on live microorganisms. Rise in the cost of chemical fertilizers and organic food industry drive the biofertilizers market. Also, a number of improvements have been made in biofertilizers manufacturing including the introduction of new organism strains, use of sterile carriers, and the introduction of inoculants with extended biofertilizers and biopesticidal properties.

There are various opportunities in the biofertilizers market in the emerging markets in Asia-Pacific countries such as India and China.  Major players in the agri-inputs industry are investing a substantial amount into starting and diversifying their biological research divisions and the same will lead to the emergence of new applications in expanding the biofertilizers market.

By region, North America dominates the global biofertilizers market, followed by the European region. The growing organic food industry and strict regulations regarding the use of chemical fertilizers have boosted the organic fertilizers market in both these regions. Asia-Pacific is projected to be the fastest-growing market in the next five years, followed by Latin America. Increasing awareness regarding health and wellness and rising expenditure power are the major driving factors for the biofertilizers market in these emerging economies.

The biofertilizers industry has many players, (small, medium, and large); however the industry is dominated by a few major companies such as Novozymes A/S (Denmark), National Fertilizers Limited (India), Madras Fertilizers Limited (India), Gujarat State Fertilizers & Chemicals Ltd. (India), and Rizobacter Argentina S.A. (Argentina). Other players such as T. Stanes & Company Limited (India), Camson Bio Technologies Limited (India), Rashtriya Chemicals & Fertilizers Ltd. (India), Lallemand Inc. (Canada), and Nutramax Laboratories Inc. (U.S.) also have a strong presence in the market.