The Biofertilizers Market is expected to grow at > 9.1% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Biofertilizers Market
Biofertilizers Market is likely to witness a CAGR of 9.1% during the forecast period. The prime factors that are driving the biofertilizers market are growing awareness towards usage of sustainable materials and technological advancement in crop production.
North America is estimated to be the largest market for biofertilizers during the forecast period. Increasing concern towards hazardous impact of using chemical products, growing awareness among consumers and farmers, and increasing support from government bodies are the major factors boosting the North American market. Asia-Pacific and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Biofertilizers Market Share: By Product Type
Based on the product type, the market is segmented as nitrogen-fixing, phosphate-solubilizing, potash-mobilizing, and others. The nitrogen-fixing segment dominated the market in 2020 and is expected to maintain its position during the forecast period as well. It is majorly used as it improves the fertility of soil by converting the available nitrogen through nitrogen-fixing organisms.
Biofertilizers Market Share: By Application Type
Based on the application type, the biofertilizers market is segmented as seed treatment, soil treatment, and others. The seed treatment segment is expected to dominate the market during the forecast period, whereas the soil treatment segment is expected to witness the highest growth over the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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