Cereals and Grains segment to dominate the Asia Pacific Biofertilizers Market during 2020–2028

According to a new market research study on “Asia Pacific Biofertilizers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Microorganism, Crop type, and Application” is expected to reach US$ 1122.21 million by 2028 from US$ 442.26 million in 2021. The market is estimated to grow at a CAGR of 12.6% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific biofertilizers market along with the drivers and restraints pertaining to the market growth. Rise in the production and yield of crops, Raising Initiatives by government agencies and increase in awareness pertaining to the need for sustainability in modern agriculture, and Fostering Rapid Growth of Organic Farming are the major factor driving the growth of the Asia Pacific biofertilizers market. However, small shelf life of biofertilizer hinders the growth of Asia Pacific biofertilizers market.

The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The shutdown of manufacturing units and disruptions in supply chain and logistics have negatively impacted the biofertilizer market. During the COVID pandemic consumers in the region increasingly became conscious and aware about the significance of chemical-free and organic nutrition to improve immunity and build better well-being. The pandemic has affected the consumer behavior patterns in favor of organic produce, to the extent that it may become an embedded part of people’s buying habits. An increase in demand for organic products has led to an increase focus on organic farming and various countries in Asia Pacific are pushing organic farming. This is going to have a positive impact on the biofertilizers market.

The Asia Pacific biofertilizers market is segmented on the basis of product type, microorganism, crop type, application, and country. Based on product type, the market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. In 2020, nitrogen fixing segment held the largest share in the market, phosphorus solubilizing is expected to be the fastest growing segment during the forecast period. Based on microorganism, the market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. In 2020, rhizobium segment held the largest share in the market, and phosphate solubilizing bacteria is expected to be the fastest growing segment during the forecast period. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market, and fruits and vegetables is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into seed treatment, soil treatment, and others. In 2020, seed treatment segment held the largest share in the market, and soil treatment is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest share in the market, and India is expected to be the fastest growing country during the forecast period.

AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes; RIZOBACTER; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA are among the leading companies in the Asia Pacific biofertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Rizobacter begins to develop Azospirillum-based inoculants which is free-living bacteria that associate with plants, promoting plant development.

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