Growth in the Organic Food Industry Drives the Biofertilizers Market

The global biofertilizer market is projected to reach USD 2,305.5 million by 2022, at a CAGR of 14.08% from 2016 to 2022. Biofertilizers are formulations that contain one or more beneficial microorganism strains (or species), which help in plant growth and development. These microorganisms consume many elements from soil as food and excrete the elements into the available form of nitrogen for plants. The use of biofertilizers is increasing because of their multi-functional benefits to plants. They can partly replace or substitute chemical fertilizers and help farmers economically, as they are cost-effective.

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The key players in the Biofertilizers Market are as follows:

• Novozymes A/S (Denmark)
• National Fertilizers Limited (India)
• Madras Fertilizers Limited (India)
• Gujarat State Fertilizers & Chemicals Ltd. (India)
•  Rizobacter Argentina S.A. (Argentina)
• T. Stanes & Company Limited (India)
• Camson Bio Technologies Limited (India)
• Rashtriya Chemicals & Fertilizers Ltd. (India)
•  Lallemand Inc. (Canada)
• Nutramax Laboratories Inc. (U.S.)

Nitrogen-fixing biofertilizers are the most commonly used across the globe. Substantial R&D efforts have been carried out in the last couple of decades, along with increasing awareness of the farmers; these are the key reasons driving the growth of this market.

Growth of the biofertilizers market is significant in most regions of the world. Growth in the organics industry, rise in the cost of chemical fertilizers, and increase in hazards of chemical fertilizers are the major driving factors of this market. On the other hand, poor infrastructure and low adoption rate of biofertilizers are major hindrances affecting the growth of the biofertilizers market, globally. Increase in food demand and per-capita income has led to immense opportunities for the biofertilizers market in emerging economies of the Asia-Pacific and Latin American regions.

Growth in demand and increase in consumption of cereals & grains, across the globe, have driven the consumption of biofertilizers. Pulses & oilseeds production, across the globe, has witnessed a higher growth rate compared to that of the population, both in developed as well as developing countries, owing to the rise in consumption of pulses & oilseeds, across the globe.

Production of fruits & vegetables is high in various countries such as China, India, and the U.S. The consumption of biofertilizers for fruits & vegetables is projected to increase significantly for the period taken under consideration.

Governments in the South Asian region have provided various facilities to farmers to promote the usage of biofertilizers, which have played a key role in driving the market in the Asia-Pacific region. Agriculture is the major occupation in various Asian economies, and the rise in demand for food has led to an increase in agriculture, which has further led to the growth in consumption of biofertilizers in the Asia-Pacific region.

Developing economies in several Asian and Latin American countries have increased the purchasing power of consumers, which has resulted in the increase in demand for organic products, thereby leading to the rise in demand and consumption of biofertilizers. Hence, the Asia-Pacific and Latin American regions are projected to be the fastest-growing markets in the next six years.

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Asia-Pacific Soil Conditioners Market Projected to Grow at the Highest Rate during forecasting year (2017 to 2022)

The soil conditioners market is experiencing growth in the Asia-Pacific region. This region has soil with poorly developed layers, owing to which the use of soil conditioners is essential for enhancing the texture and structure of the soil. Moreover, the Asia-Pacific region held the largest market share in 2016 followed by the Europe region. The extent and causes of physical, chemical, and biological degradation of soil and soil loss have been largely observed in many European countries. Moreover, the Common Agricultural Policy of the European Union promotes farming practices that support the usage of products and techniques for soil conservation, soil amendment, and soil quality in this region. These are the major factors for the growth of soil conditioners in the European market. Soil conditioners are physical, chemical, and biological substances that are used to improve the structure of soil, its physical quality, and its ability to provide nutrition for plants. They add texture to the soil, enhance aeration and water holding capacity, and help loosen compact soil; they are used for various agricultural and industrial application.

The key players in the Soil Conditioners Market are as follows:

·         BASF SE (Germany)

·         The Dow Chemical Company (U.S.)

·         Akzo Nobel N.V. (Netherlands)

·         Evonik Industries AG (Germany)

·         Solvay S.A. (Belgium)

·         Croda International Plc (U.K.)

·         Clariant International AG (Switzerland)

·         Lambent Corp. (U.S.)

·         Adeka Corporation (Japan)

·         Eastman Chemical Company (U.S.).

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The soil conditioners market is segmented based on type, into natural and synthetic. The natural segment is projected to grow at the highest CAGR from 2017 to 2022. Natural soil conditioners are used as a soil amendment to alleviate its poor properties and to increase its productivity. Natural soil conditioners are further categorized into polysaccharide derivatives, and others, which include animal dung, compost, sewage sludge, crop residues, and other organic amendments such as peat and tree bark. While synthetic soil conditioners are further categorized into minerals, gypsum, and polymers.

On the basis of application, the soil conditioners market is segmented into agricultural and industrial applications. The agricultural segment is projected to grow at a higher CAGR during the forecast period. For conditioning of degraded soil, water conservation, and to reduce the use of expensive chemical fertilizers, soil conditioners were developed. Furthermore, soil conditioners are also used in industrial applications such as mining and tunneling.

On the basis of solubility, the soil conditioners market is segmented into water-soluble and hydrogels. The hydrogels segment is projected to grow at the highest CAGR from 2017 to 2022. Hydrogels are insoluble crosslinked hydrophilic polymers, which are applied to soil to improve the soil nutrient capacity, and help in soil aggregation, hence reducing the soil erosion. Water-soluble soil conditioners are linear soluble hydrophilic material that act as wetting agents.

Low level of awareness about the benefits of soil conditioning materials among the farmers is the key restraint for the growth of the market. Market players’ efforts in creating awareness and availability of soil conditioning materials (especially synthetic products) will aid the market to witness significant growth in the projected period.

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Developing Countries Expected to Witness High Demand for Pest Control Products and Services in the Future

The pest control market is projected to reach USD 22.04 billion at a CAGR of 5.3% from 2016 to 2021. The market is driven by factors such as drastic climate changes  and increasing pest population. There is high growth potential in developing markets such as China and India, which provides new development opportunities for market players.

Among the types of pest control, biological control is the fastest-growing segment, as it is effective in targeting stored product insects such as beetles, weevils, mites, and moths. These insects can infest grain and bulk commodities such as cocoa, rice, nuts, animal feed, and other raw materials used for manufacturing food.

Ban on the usage of methyl bromide and the effects of this chemical on the environment have given opportunities to introduce alternative/new products in the pest control market. Manufacturers, especially in Europe and North America, are working toward the usage of alternative sources that are environment friendly and fulfill regulatory mandates of these regions.  

The key players in the Pest Control Market are as follows:

• ·         BASF SE (Germany)
• ·         Bayer AG (Germany)
• ·         Ecolab (U.S.)
• ·         Syngenta AG (Switzerland)
• ·         Rentokil Initial plc (U.K
• ·         FMC Corporation (U.S.)
• ·         Rollins, Inc. (U.S.)
• ·         Terminix International Company, L.P (U.S.)
• ·         Bell Laboratories Inc. (U.S.)
• ·         the Dow Chemical Company (U.S.)

The importance of pest control is increasing as it is the most effective way to kill insects in residential, commercial, and agricultural areas. On the basis of pest type, pest control is classified into insect pests, followed by termites. The termite segment is projected to grow at the highest CAGR from 2016 to 2021.

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Asia-Pacific is projected to be the fastest-growing regional market for pest control. The growth of this market is attributed to pest control practices, adopted by a majority of the population which is engaged in agriculture, for better cultivation and prevention of losses after harvest. In the Asia-Pacific region, countries such as China and Japan have high demand for agricultural products and concerns about loss of stored grains is also high. This has driven the market for pest control.

Players in the pest control market continue to invest and introduce new and innovative products. This strategy provides market players enough opportunities to increase their market share and expand across different countries in the Asia-Pacific region. These players adopt acquisitions, new product launches, expansions, collaborations, and agreements with leading and other local companies, to enhance and strengthen their geographic reach in the pest control market.

The key players in the market include BASF SE (Germany), Bayer AG (Germany), Ecolab (U.S.), Syngenta AG (Switzerland), and Rentokil Initial plc (U.K.).

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