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mycorrhizae based biofertilizers market

Mycorrhizae-based Biofertilizers Market Share, Size, Trends, Industry Analysis Report, By Mode of Application (Seed Treatment, Soil Application, and Fertilization Treatment); By Application; By Form; By Type; By Region; Segment Forecast, 2023 - 2032

  • Published Date: Dec 2022
  • Pages: 118
  • Format: PDF
  • Report ID: PM2950
  • Base Year: 2022
  • Historical Data: 2019-2021

Report Summary

The global mycorrhizae-based biofertilizers market was valued at USD 468.51 million in 2022 and is expected to grow at a CAGR of 14.7% during the forecast period.

The increasing prevalence of mycorrhiza as a bio-fertilizer, which helps in the high promotion of plant growth in an environment-friendly manner, and ability to provide many other benefits to the cultivation of plants are key factors influencing the growth and demand of the market. Moreover, advancements in existing agriculture techniques, which is highly encouraging the increased applications of biofertilizers for the improvement and to preserve soil health, along with the rising popularity in the arena of organic agriculture around the world, are expected to drive the global market growth over the projected period.

Mycorrhizae-based Biofertilizers Market Size
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For instance, in August 2022, Mycorrhizal Applications LLC, a subsidiary of Valent BioSciences, expanded its research facilities at Bio Research & Development Growth Park, St. Louis, Missouri. With this expansion, the company will expand its capacity for in vitro-related research to arbuscular mycorrhizal fungi and expand its lab space at its headquarters.

In addition, rapid surge in the prices of synthetic fertilizers worldwide, along with the rising consumer awareness towards the several harmful effects and concerns associated with synthetic fertilizers on soil health and nutritional quality of food products, is critical factors likely to propel the consumption of biofertilizers in the next coming years.

In addition, with the rapidly growing global population, scarcity of food remains a very critical issue for governments all over the world, which has led to increased demand for innovations in terms of product development, which is anticipated to augment the demand and need for these fertilizers across all agricultural economies.

The outbreak of the COVID-19 pandemic has significantly impacted the growth of the mycorrhizae-based biofertilizers market. However, the effect of a pandemic on demand is low, but the main impact is on the logistic side owing to high disruptions in global supply chain. Since mycorrhizae-based biofertilizers could easily continue their day-to-day activity as it has been classified as a core business in many countries because of its link with production of food products.

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Industry Dynamics

Growth Drivers
The rapid growth in organic agriculture, which is fueling the demand for mycorrhiza-based biofertilizers, coupled with the growing consumer awareness towards the health risks and high levels of residues in the food and many other environmental issues, that has significantly led consumers to prefer chemical-free food products are major key factors expected to drive the growth of the global market during the projected period.

Furthermore, a growing number of favorable government schemes to encourage the manufacturers and suppliers of biofertilizers & are taking various initiatives to shift from conventional to organic farming practices is also likely to be one of the key factors favoring market. In addition, increased demand for food products, a high need for sustainable agricultural development, and impressive efficacy in the growth of major crops are influencing the demand for mycorrhizal-based biofertilizers.

Report Segmentation

The market is primarily segmented based on mode of application, application, form, type, and region.

By Mode of Application

By Application

By Form

By Type

By Region

  • Seed Treatment
  • Soil Application
  • Fertilization Treatment
  • Agriculture
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Non-agriculture
  • Ectomycorrhizae
  • Endomycorrhizae
  • Solid
  • Liquid
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Seed treatment segment accounted for the highest market share

Aggressive and continuously growing consumption of synthetic fertilizers and many other crop chemicals like pesticides and insecticides in recent years have led to deterioration in soil quality since several governments have imposed regulations on the agriculture sector, which is projected to have a positive impact on the seed treatment sector in biofertilizers.

Furthermore, soil application segment is projected to grow at a high CAGR during the forecast period due to its ability to improve soil conditions and make it more convenient for plants to absorb essential minerals from the soil. In addition, it helps soil mineralization by decomposing the available organic substances in the soil, enhancing its cultivation properties that are likely to fuel the segment market.

Agriculture segment held the largest market volume share in 2022

Due to increased production of various food products, including cereals and grains, fruits & vegetables, and many others, for healthy product development. In addition, the rapidly growing population burden, especially in countries like India and China, has led to high demand for agriculture; in turn, the market for mycorrhizae-based biofertilizers is increasing significantly.

Moreover, the oilseeds & pulses segment is anticipated to witness fastest growth over the study period, accelerated by increased demand for sunflower, soybean, and groundnuts worldwide. Additionally, various microbiological advancements in determining the best suitable composition of biofertilizers for cultivation are likely to contribute positively to the segment market growth shortly.

Ectomycorrhizae segment dominated the market in 2022

The ectomycorrhizas segment accounted for the largest market share in 2022, accelerated by increasing usage in various applications including commercial forestry, forest restoration, climate change mitigation, and phytoremediation. Moreover, the high efficiency of ECM in various ecosystems and many human activities such as addition of fertilizers, destruction of the structure of soil, rise in carbon dioxide levels globally, and ability to produce variation in the concentration of fungi.  About 7% of earth’s surface is affected by salinity, and this area is continuously increasing owing to irrigation practices and land clearing for agriculture. Hence, mycorrhizal interactions are used for desalinating soils or colonizing them using salt-tolerant species.

Liquid segment expected to hold a significant market share

The liquid segment is anticipated to hold the largest market share during the projected period. An ever-rising focus on food security mainly drives growth amidst a rapid increase in population, which has nudged authorities to increase their attention toward sustainable solutions. In addition, key market players' growing efforts on expanding their product portfolio and increasing number of mergers and acquisitions activities are further likely to boost the growth of the segment market during the coming years.

The demand in Asia Pacific is expected to witness significant growth

The Asia Pacific region is expected to grow rapidly over the coming years owing to increased consumer preferences towards the consumption of organic food and large numbers of government initiatives and reforms undertaken by governments of many developing Asian countries, including China, India, and Indonesia. Moreover, increasing investment by key market companies to establish their manufacturing units in these countries to cater to the growing need for biofertilizers is expected to fuel the market growth.

Furthermore, North America dominated the global market in 2022, with a significant market share due to increased government interventions in organic farming practices and early adoption of advanced and innovative products in countries like the U.S. and Canada. Moreover, rising consumer awareness towards the benefits associated with organic food consumption and high prevalence among farming committees about the long-term positive impact of mycorrhizae-based biofertilizers is driving the market’s growth in the region.

Competitive Insight

Key players include Novozymes, UPL Limited, Premier Tech, Plant Health Care, Groundwork, Valent BioSciences, Agrotecnologías Naturales Atens, Lallemand Inc., AgriLife, Ezzy BioSciences, Privi Life Sciences, PHMS Technocare, Sikko Industries, Symbiom SRO, Helena Agri-Enterprises, Tainio Biologicals, and Vegalab.

Recent Developments

In August 2022, CFCL and TERI launched their first mycorrhiza-based product in the biofertilizers category named Superrhiza. It is produced in a sterile environment and highly enriched with the naturally occurring mycorrhizal partner bacteria. The product provides a unique feature over other mycorrhiza variants & delivers soil nutrients more efficiently.

In April 2022, Premier Tech Ltd. completed the asset acquisition of US-based Northwoods Organics. With this acquisition, the company will strengthen its position in the US with the help of adding two peat bogs and a new packaging plant. The company’s manufacturing capacity will increase through this acquisition and even be able to provide a better service to its clients.

Mycorrhizae-based Biofertilizers Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 535.46 million

Revenue forecast in 2032

USD 1,845.67 million

CAGR

14.7% from 2022 – 2030

Base year

2022

Historical data

2019 – 2021

Forecast period

2023– 2032

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Segments Covered

By Mode of Application, By Application, By Form, By Type, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Novozymes A/S, UPL Limited, Premier Tech Ltd., Plant Health Care, Groundwork AG, Valent BioSciences, Agrotechnologies Naturales ATENS, Lallemand Inc., AgriLife, Ezzy BioSciences, Privi Life Sciences, PHMS Technocare Private Limited, Sikko Industries, Symbiom SRO, Helena Agri-Enterprises LLC, Tainio Biologicals Inc., and Vegalab S.A.

Key Take-Away
Polaris Market Research
Mycorrhizae-based Biofertilizers Market Size & Share Global Analysis Report, 2023-2032