The global mycorrhizae-based biofertilizers market size is expected to reach USD 1,845.67 million by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing consumer awareness of the ever-increasing health risks and increased levels of residues and food contamination has led to consumer preferences to consume chemical-free products to maintain health. In addition, growing popularity of digital farming and precision farming practices, along with the high adoption of technological reforms among developing countries including China, India, Africa, and Brazil, along with the high investments in R&D sector, is likely to augment market growth in the coming years.
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Furthermore, increasing population worldwide is likely to result in rapid growth in the demand and need for food products to fulfill consumer requirements. Hence, by applying mycorrhizae-based biofertilizers, the production of crops can significantly increase along with less environmental impact. For instance, according to the UN population, the world’s population is estimated to reach nearly 9.8 billion by 2050 and about 11.2 billion by 2100. As a result, agricultural production must be actively encouraged to meet the food requirements worldwide.
Mycorrhizae-based Biofertilizers Market Report Highlights
- Seed treatment segment accounted for a high revenue share due to a wide range of benefits, included as nutritional values in seeds.
- Agriculture segment held a significant revenue share owing to rapid growth in consumption of food products as a result of highly growing population across the globe
- Ectomycorrhizae segment dominated the market on account of its increased utilization in various applications, including forest restoration and commercial forestry.
- Liquid segment is projected to hold the largest share in terms of volume over the anticipated period, which is mainly accelerated by an increasing focus on food security.
- Asia Pacific is expected to grow significantly during the projected period because of rising consumer awareness of the benefits of consuming organic food and increasing government initiatives and reforms.
- The global market players include Valent BioSciences, Helena Agri-Enterprises LLC, Plant Health Care, UPL Limited, and Agrotechnologies Naturales ATENS.
Polaris Market Research has segmented the mycorrhizae-based biofertilizers market report based on mode of application, application, form, type, and region:
Mycorrhizae-based Biofertilizers, Mode of Application Outlook (Revenue – USD Million, 2019 – 2032)
- Seed Treatment
- Soil Application
- Fertilization Treatment
Mycorrhizae-based Biofertilizers, Application Outlook (Revenue – USD Million, 2019 – 2032)
- Oilseeds & Pulses
- Fruits & Vegetables
Mycorrhizae-based Biofertilizers, Form Outlook (Revenue – USD Million, 2019 – 2032)
Mycorrhizae-based Biofertilizers, Type Outlook (Revenue – USD Million, 2019 – 2032)
Mycorrhizae-based Biofertilizers, Regional Outlook (Revenue – USD Million, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa