A bio fertilizer is a substance which consists of microorganisms that when applied to plant surface, soil or seeds, inhabit the interior of the plant and encourage growth by increasing the supply of primary nutrients to the plant. They add nutrients by natural process of nitrogen fixation and stimulate growth of the plant through synthesis process. The use of bio fertilizers can significantly lower the use of pesticides and chemical fertilizers. Also, the microorganism present in the fertilizer helps in retaining the soil’s nutrient cycle and thereby builds soil’s organic matter. Use of biofertilizers is extremely beneficial to enrich the fertility and supplying organic nutrients into the soil. Hence, bio fertilizers are chemical free thereby safe to the living soil.
The growth of the Bio-fertilizers market is owing to increasing perforation of agro chemicals on crops leading to contamination of soils and other environment related hazards. Biofertilizers are manufactured using organic waste such as compost and acts as a substitute for chemical based fertilizers. They act as physical barrier against pathogens and protect the crop from pests and helps in overall growth. Biofertilizers have been gaining importance owing to increase in price of chemical based fertilizers and increase in the organic food industry. In India, the government has taken an initiative wherein the use of Biofertilizers is increased in agriculture as a part of five year plan.The growth of the market is likely to get affected owing lack of knowledge about the benefits of using bio fertilizers and high cost of investment among the farmers.
On the basis of products, the market is segmented into phosphate solubilizing and nitrogen fixing. Nitrogen fixation is a process in which atmospheric nitrogen is converted into Ammonia. During fixation process the nitrogen atoms are freed from the triple bonded diatomic structure, to use it in other applications. It is an important process to make explosive. Nitrogen fixing Biofertilizers comprises of numerous bacteria’s such as azotobactor, rizhobium, acetobacter and azospirillum to increase the organic and nitrogen content in the soil.
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The phosphate solubilizers contain phosphate solubilizing bacteria that are proficient of solubilizing inorganic phosphate from insoluble compounds. These are suitable for almost all crops that include cash crops, vegetables, leguminous crops, cereals, horticultural crops, etc. Key benefit of using phosphate solubilizer include anti fungal activities, thereby fungal diseases can be controlled.
Seed treatment is a chemical which are used to treat the seeds prior to plantation. Insecticides are added less frequently. It is an environment friendly approach of application of pesticides owing to the very small amount of pesticide used. Seed treatment helps in improving the yield of crop and to sustain virus and bacteria attack. Increasing use of seed treated crops amongst farmers is likely to propel market growth of the industry.
Soil treatment is done prior to planting to improve the crop yield and fertility of the soil. Countries such as the U.S., China, Italy and India are anticipated to have positive impact on market owing to requirement of fertile lands in these regions.
The Biofertilizers market was dominated by North America in the year 2014 and accounted for largest share in the global market followed by Europe. Asia Pacific is the fastest growing market owing to increasing population which has resulted in propelling demand for food. In addition rising prices of chemical fertilizers has also resulted in the market growth. China being the largest agricultural market is promoting the use of Biofertilizers by exempting the product VAT, tax and excise, hence increasing the demand of Biofertilizers globally.
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Key players in the market include Symborg S.L., Gujarat State Fertilizers & Chemical Ltd., National Fertilizers Ltd., Agri Life, Antibiotice S.A., Madras Fertilizers Ltd. and Novozymes. The market is highly competitive in nature owing to strong competition on account of small and large scale industries. Majority of companies have signed an exclusive agreement with distributors to serve end users.
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