Biofertilizer Market is expected to grow at a CAGR of 14% from 2019 to 2024- An exclusive market research report by Lucintel

Lucintel's latest market report analyzed that biofertilizer provides attractive opportunities in seed treatment and soil treatment applications. The biofertilizer market is expected to grow with a CAGR of 14%. In this market, cyanobacteria is the largest segment by microorganism, whereas fruits and vegetables is largest by crop type.

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Based on microorganism, the biofertilizer market is segmented into rhizobium, azotobacter, azospirillum, cyanobacteria, phosphate-solubilizing bacteria, and others. The cyanobacteria segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to low input cost, increase the bioavailability of phosphorus, and help in nutrient cycling as well as nitrogen fixation.

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The Biofertilizer Market is marked by the presence of several big and small players. Some of the prominent players offering biofertilizer include Bayer, Novozymes A/S, National Fertilizers Limited, Madras Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd. , Rizobacter Argentina S.A., T.Stanes & Company Limited, Camson Bio Technologies Limited , Rashtriya Chemicals & Fertilizers Ltd., Lallemand Inc. and Nutramax Laboratories Inc.

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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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