The Worldwide Mycorrhizae-based Biofertilizers Industry is Projected to Reach $1 Billion by 2027
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DUBLIN, Dec. 19, 2022 /PRNewswire/ — The “Global Mycorrhizae-based Biofertilizers Market by Type (Ectomycorrhizae and Endomycorrhizae), Form (Liquid and Solid (Powder and Granules)), Mode of Application, Application (Agricultural and Non-agricultural) and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The mycorrhizae-based biofertilizers market is projected to reach USD 1,087 million by 2027 growing at a CAGR of 14.3% from 2022 to 2027.
Mycorrhizae-based biofertilizers have high demand in organic food production
The organic food market began to thrive a decade ago, and since then, it is only expanding. According to FiBL, sales of organic food and beverages exceeded EUR 106 billion (USD 104.72 billion) in 2019.
The US was the world’s largest market by far (42%), followed by the European Union (EUR 41.4 billion/USD 40.9 billion or 39%) and China (EUR 8.5 billion/USD 8.4 billion, 8.0%). Growing public awareness of the adverse repercussions of synthetic chemicals used in food production has helped organic food production in recent years.
The organic food business is yet to undergo full-fledged development, given the type of innovation combined with this expanding demand. When weighed against the health advantages of eating organic food, the price difference between organic and inorganic food is negligible.
Although organic food may cost higher than conventional, it shields the body from unnecessary pesticide and fertilizer intake. Long-term, this lowers the probability of health risks and avoidable medical costs even more. Organic farming involves extensive use of mycorrhizae-based biofertilizers, and with the growing organic farmland and increasing organic food market, the mycorrhizae-based biofertilizers market is projected to expand exponentially.
Asia Pacific is projected to witness substantial growth during the forecast period in the mycorrhizae-based biofertilizers market
The growth of mycorrhizae-based biofertilizers in Asia Pacific countries such as China, India, Australia & New Zealand, and Japan is projected to be potential during the forecast period due to the adoption of science-backed, advanced agricultural practices.
The Asia Pacific mycorrhizal biofertilizers market is fragmented among multinational companies and numerous small-scale manufacturers that produce biofertilizers for crops cultivated. Moreover, the government policies focused on encouraging the application of biofertilizers are boosting the growth of the market in the region.
In 2021, in China, Yunnan national development released a policy on restricted usage of fertilizers, basic chemical material, coal processing and ferro-alloy smelting industries based on their energy consumption. As Yunnan is the primary site for phosphate production and with the new policy released the consumers need to shift towards wet-process phosphoric acid as an alternative.
The Indian government has been limiting the application of chemical fertilizers and promoting the usage of biofertilizers through government initiatives such as the Paramparagat Krishi Vikas Yojana (PKVY), Mission Organic Value Chain Development for Northeastern Region (MOVCDNER)), and National Food Security Mission (NFSM).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Mycorrhizae-based Biofertilizers Market
4.2 Mycorrhizae-based Biofertilizers Market: Growth Rate of Major Regional Submarkets
4.3 Asia-Pacific: Mycorrhizae-based Biofertilizers, by Form & Country
4.4 Market, by Type
4.5 Mycorrhizae-based Biofertilizers Market, by Form
4.6 Market, by Mode of Application
4.7 Market, by Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Multiple Benefits of Mycorrhizae-based Biofertilizers
5.2.1.2 Shift in Demand for Natural and Sustainable Flavors
5.2.1.3 Surge in Demand for Organic Food
5.2.1.4 Detrimental Impacts of Synthetic Fertilizers on Environment
5.2.2 Restraints
5.2.2.1 High Production Cost of Mycorrhizae-based Biofertilizers
5.2.2.2 Lack of Knowledge and Awareness Regarding Organic Farming
5.2.2.3 Increased Prices of Liquid-based Biofertilizers
5.2.3 Opportunities
5.2.3.1 Benefits of Mycorrhizae in Stimulating Plant Growth and Enhancing Crop Productivity
5.2.3.2 Demand for Sustainable and Environment-Friendly Solutions
5.2.4 Challenges
5.2.4.1 Willingness of Farmers to Substitute Conventional Chemical Fertilizers with Mycorrhizae-based Biofertilizers
5.2.4.2 Lack of Strong Regulations Regarding Application of Mycorrhizae-based Biofertilizers
5.2.4.3 Supply of Counterfeit and Less Effective Products
6 Industry Trends
6.1 Introduction
6.2 Trends Impacting Customers’ Businesses
6.3 Value Chain Analysis
6.3.1 Prominent Companies
6.3.2 Small and Medium Enterprises (SME)
6.3.3 End-users
6.3.4 Key Influencers
6.4 Trade Analysis
6.5 Technology Analysis
6.5.1 Substrate-based Production Method
6.5.2 Substrate-Free Production Method
6.5.3 In-Vitro Production System
6.6 Patent Analysis
6.7 Ecosystem Map & Supply Chain Analysis
6.7.1 Upstream
6.7.1.1 Major Biofertilizers Providers
6.7.1.2 Equipment Manufacturers
6.7.1.3 Distributors, Wholesalers, and Suppliers
6.7.1.4 Regulatory Bodies & Certification Providers
6.8 Porter’s Five Forces Analysis
6.9 Case Studies
6.9.1 Multiple Species of Mycorrhizae Offer Several Plant Benefits
6.10 Pricing Analysis
6.10.1 Average Selling Price Trend Analysis
6.11 Regulatory Framework
6.12 Key Stakeholders and Buying Criteria
6.13 Key Conferences & Events
7 Mycorrhizae-based Biofertilizers Market, by Type
7.1 Introduction
7.2 Ectomycorrhizae
7.2.1 Ectomycorrhizal Species to Help Promote Plant Growth and Withstand Adverse Climatic Conditions in Forestry
7.3 Endomycorrhizae
7.3.1 Increase in Use of Endomycorrhizal Biofertilizers to Benefit Plant Growth
8 Mycorrhizae-based Biofertilizers Market, by Form
8.1 Introduction
8.2 Liquid
8.2.1 Increased Effectiveness and Prolonged Shelf-Life to Drive Preference
8.3 Solid
8.3.1 Easy Production and Cost-Effectiveness of Solid Mycorrhizae Biofertilizers to Augment Market Growth
9 Mycorrhizae-based Biofertilizers Market, by Mode of Application
9.1 Introduction
9.2 Seed Treatment
9.2.1 Farmers Shift Toward Seed Treatment for Crop Protection
9.3 Soil Treatment
9.3.1 Arbuscular Mycorrhizae Offer Bioprotection, Making Affected Soil Cultivable
9.4 Fertilization Treatment
9.4.1 Fertilizer Treatment Increases Mass and Enzyme Activity in Corn and Wheat
10 Mycorrhizae-based Biofertilizers Market, by Application
10.1 Introduction
10.2 Agricultural
10.2.1 Mycorrhizae Covers Vast Agricultural Regions to Combat Soil Degradation
10.2.2 Cereals & Grains
10.2.2.1 Increased Production of Cereals and Grains to Drive Market Expansion
10.2.2.2 Corn
10.2.2.2.1 Application of Mycorrhizae-based Biofertilizers to Help Increase Corn Yield and Reduce Food Insecurity
10.2.2.3 Wheat
10.2.2.3.1 Mycorrhizae-based Biofertilizers to Aid in Eradicating Malnutrition in Developing Countries by Enhancing Wheat Production
10.2.2.4 Rice
10.2.2.4.1 Rice-Producing Nations Employ Mycorrhizae-based Biofertilizers to Enhance Their Overall Production
10.2.2.5 Other Cereals & Grains
10.2.3 Oilseeds & Pulses
10.2.3.1 Soybean
10.2.3.1.1 Increased Demand for Plant-based Protein to Propel Market Growth
10.2.3.2 Cotton
10.2.3.2.1 Mycorrhizae-based Biofertilizers Ensure Sustainable Yield of Cotton
10.2.3.3 Other Oilseeds & Pulses
10.2.4 Fruits & Vegetables
10.2.4.1 Sustainable Production of Fruits & Vegetables to Propel Market Growth
10.2.4.2 Apple
10.2.4.2.1 Increased Consumption of Apples to Facilitate Market Growth
10.2.4.3 Pear
10.2.4.3.1 Mycorrhizae-based Biofertilizers to Aid in Upscaling Pear Production in Sustainable Manner
10.2.4.4 Potato
10.2.4.4.1 Increase in Industrial Importance of Potatoes to Augment Growth
10.2.4.5 Cucumber
10.2.4.5.1 Mycorrhizae-based Biofertilizers Aid in Meeting Surge in Demand for Cucumbers
10.2.4.6 Grapes
10.2.4.6.1 Mycorrhizae-based Biofertilizers to Promote Economic Growth of Viticulture
10.2.4.7 Other Fruits & Vegetables
10.2.5 Other Crops
10.3 Non-Agricultural
10.3.1 Turf Bacteria and Mycorrhizae Gain Attention Owing to Environmental Benefits That Boost Market
11 Mycorrhizae-based Biofertilizers Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.3 Key Player Strategies
12.4 Market Evaluation Framework
12.5 Revenue Analysis of Key Players
12.6 Company Evaluation Quadrant (Key Players)
12.6.1 Stars
12.6.2 Emerging Leaders
12.6.3 Pervasive Players
12.6.4 Participants
12.7 Competitive Benchmarking of Key Players
12.8 Startup Evaluation Quadrant
12.8.1 Progressive Companies
12.8.2 Starting Blocks
12.8.3 Responsive Companies
12.8.4 Dynamic Companies
12.9 Competitive Benchmarking of Startups/SMEs
12.10 Competitive Scenario
12.10.1 Product Launches
12.10.2 Deals
12.10.3 Other Developments
13 Company Profiles
13.1 Key Players
13.1.1 Novozymes A/S
13.1.2 Upl Limited
13.1.3 Premier Tech Ltd.
13.1.4 Groundwork Bioag
13.1.5 Plant Health Care PLC
13.1.6 Valent Biosciences
13.1.7 Atens
13.1.8 Vegalab SA
13.1.9 Lallemand Inc.
13.1.10 Agrinos
13.1.11 Agrilife
13.1.12 Sustane Natural Fertilizer
13.1.13 T. Stanes & Company Limited
13.1.14 Ezzy Biosciences
13.1.15 Asfertglobal
13.1.16 Privi Life Sciences
13.1.17 Phms Technocare Private Limited
13.1.18 Sikko Industries
13.1.19 Symbiom Sro
13.1.20 Helena Agri-Enterprises, LLC
13.1.21 Tainio Biologicals, Inc.
13.1.22 Neologie Bio Innovations I Private Limited
14 Adjacent and Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/pmni7q
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