Azotobacter based Biofertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Azotobacter based Biofertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Azotobacter based Bio-Fertilizer Market is projected to grow at a CAGR of 8.7% during the forecast period (2020-2025). The increased practice of organic farming and the increasing demand for organic food are the two major factors that are driving the growth of the azotobacter based bio-fertilizer market. Also, the favorable policies implemented by the government for organic farming are augmenting the growth of the market studied. Just like other producers of fertilizer products and other agricultural inputs, the azotobacter-based bio-fertilizer industry has faced particular challenges resulting from the COVID-19 pandemic that could have longer-term consequences for food production. Although food-chain businesses were essential in most countries at the onset of the pandemic, companies still faced operational difficulties which became better owing to the upliftment of the lockdown and thus, the market for these fertilizers flourished even during the pandemic owing to the increased demand for organic products.

Key Market TrendsThe Increased Practice of Organic Farming is Driving the Market

According to the Organic Trade Association, approximately 82% of households in the United States purchase organic food. The organic food market in India has been registering a CAGR of 25%. The rise in demand for organic products is booming, not only due to an increase in conscientious consumers, but also due to increasing incomes, along with improved farming practices that make organic yields more robust. As a result, the increasing demand for organic food, worldwide, has increased the area under organic farming, worldwide. The Common Agricultural Policy limits and restricts the use of synthetic fertilizers, while promoting the use of biofertilizers and organic farming.

Europe Dominates the Market

Out of the several species of azotobacter, A. chroococcum happens to be the most dominant inhabitant in arable soils, capable of fixing nitrogen. Bacteria of the genus Azotobacteria synthesizes auxins, cytokinins, GA-like substances are the major substances regulating the enhanced growth. This biofertilizer is mainly used in Russia and many European countries under the name Azotobacterin. This genus includes diverse species, namely, A. chroococcum, A.vinelandii, A. beijerinckii, A. nigricans, A. armeniacus, and A. paspali. It is used as a biofertilizer for different crops, including wheat, oat, barley mustard, rice, linseeds, sunflower, castor, maize, sorghum, cotton, jute, sugar beets, tobacco, tea, coffee, rubber, and coconuts. Apart from its wide use in Europe and North America, there are a variety of species of azotobacter found in Indian soils. Thus, the farmers in India make use of these fertilizers which aid in the growth of better crops.

Competitive Landscape

The Azotobacter based Bio-Fertilizer Market is an extremely fragmented market where many regional and small players are capturing a share in the market. Companies operating in the azotobacter based bio-fertilizer market are adopting various strategies, such as product launches, partnerships, and acquisitions, to gain a larger share in the market. Investment in R&D and the introduction of new products is a primary strategy adopted by all major companies involved in the market studied. Apart from product launches, companies are entering into partnerships and agreements, in order to increase their customer base and develop R&D capabilities.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Agrinos AS
Agri Life
CBF China Biofertilizer AG
Kiwa Bio
Tech Products Group Corporation
National Fertilizer Ltd
Universal Industries (TaraiGold)
Phms Technocare Private Limited
Green Vision Life Sciences
Unisun Agro Private Limited
Kupindedaha Timur Krishi Farm pvt. ltd.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.