2013-01-16 16:19:13 - Global biofertilizers market to increase at a CAGR of 13%
The global biofertilizers market has been forecast to increase at a compound annual growth rate (CAGR) of 13% over the next five years, increasing from a valuation of $5,013.1 million, to hit a market value of $10,298.5 million by 2017.A biofertilizer is a substance which contains living microorganisms which, when applied to seed, plant surfaces, or soil, colonizes the rhizosphere or the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant.Bio-fertilizers add nutrients through the natural processes of nitrogen fixation, solubilizing phosphorus, and stimulating plant growth through the synthesis of growth-promoting substances.Major Biofertilizers are nitrogen fixing biofertilizers, phosphate solubilizing biofertilizers and potash mobilising biofertilizers. Apart from these classes other
biofertilizers includes zinc and sulphur solubilizing biofertilizers. The demand driving factors of global biofertilizers market are healthy growth for organic products, promotion by government agencies to push biofertilizers in the market and various environmental hazards associated with chemical fertilizers.To capitalise on the growth trend in the global biofertilizers market, several leading companies are rushing in to the development and manufacturing of effective strains of microorganisms. Growing demand for biofertilizers is forcing the global players to add new varieties to their product offerings. The leading companies currently dominating the global biofertilizers market include CBF China Biofertilizers AG (Germany), Mapleton Agribiotec PTY Ltd. (Australia), Nutramax Laboratories Inc. (US), Novozyme (Denmark), Growing Power Hairy Hill L.P. (Canada) and Rizobacter Argentina S.A. (Argentina).For more information on the global biofertilizers market, see the latest research: Global Biofertilizers MarketFollow us on Twitter @CandMResearch
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