There are certain factors, which act as drivers for bio-fertilizers market such as rising environmental awareness, enhancing soil fertility and increasing demand for organic food. Factors restraining the growth of bio-fertilizer market are lack of awareness and lower adoption rate by farmers. The unmet demand for fertilizers, formulation of favorable government policies and countries having agriculture dominant economy would provide growth opportunities for this market.
Bio-fertilizers Market Analysis by Types
Based on types, the global market for bio-fertilizers is segmented into nitrogen fixing, phosphate fixing, potash mobilizing and others. Nitrogen fixing bio-fertilizer is one of the prominent substitutes for commercial nitrogen fertilizers. The market scope for this bio-fertilizer is vast, as it is majorly used as nitrogen source for rice. Rice is a prominent crop in many countries, namely India, China, Indonesia, Brazil, Japan and others, thus enhancing the market for the nitrogen fixing fertilizers.
Bio-fertilizers Market Analysis by ApplicationBased on application, bio-fertilizer market is segmented into fruits and vegetables, cereals, pulses and oilseeds, plantations and others. Among these, fruits and vegetables are the most produced crop as they are majorly consumed as meals. As food is the primary need of human being, production of fruits and vegetables is going to be most prominent, thus enhancing the scope for bio-fertilizers.
Bio-fertilizers Market Analysis by Geography
Based on geography, the global bio-fertilizer market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. Among these segments, Asia Pacific is the fastest growing market for bio-fertilizers, which comprises of countries such as India and China having large population, vast landscape and booming economies.
The global bio-fertilizer market is very competitive due to the presence of some dominant manufacturers. Some of the key players in this market are Agri Life, Ajay Bio-Tech (India) Ltd, Antibiotice S.A., Biomax and others. Ajay Bio-Tech (India) Ltd is concentrating its resources on Western markets along with the Asian markets, as it believes that demand for bio-fertilizers in western countries will rise due the additional emphasis laid on organic food and eco friendly agriculture practices.
High Level Analysis
The analysis gives an overview about global bio-fertilizer market and its key concerns. The global market analysis using Porter’s five force model and SWOT analysis helps in giving a better understanding about various opportunities, threats and substitutes. The bargaining power of suppliers is high as the demand for fertilizers is more than the supply. Thus, this decreases the bargaining power of the buyer due to the unmet demand. Threat of new entrants to this market is moderate due to the substantial amount of research associated and the initial investments involved in setting up of a new industry. Due to the unmet demand of fertilizers, the threat of substitutes for bio fertilizers is high. The market for bio-fertilizers is densely populated and is accompanied with high exit barriers due to huge investments involved in infrastructure and research, which increases the intensity of rivalry among the industry players.
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