According to a recently published report, the Global Biofertilizer Market is expected to grow at the CAGR of 14.23% during 2015-2022 and it is estimated to be $1.95 billion by 2022. The global biofertilizer market is segmented on the basis of type, application method, crop type, microorganisms and geography. The report on Global Biofertilizer Market Forecast 2015-2022 provides detailed overview and predictive analysis of the market.
Full report available Global Biofertilizer Market Forecast 2015-2022 report at http://briskinsights.com/report/biofertilizer-market
The global biofertilizer market is expected to grow exponentially due to the increasing awareness among people about the adverse effects of the chemical fertilizers. The chemical fertilizers normally used in the agricultural farms are the major reason for soil and water pollution, not only this during the manufacture of fertilizers many poisonous gases and are released in the air, water bodies and soil which are capable of causing serious health and environmental hazards, this is in turn creating a strong market for the biofertilizer s. Also, there is a huge demand of organic food in the market this is also acting as the driver for the biofertilizer market.
Another major driver of the biofertilizer market is the support that the industry is receiving from the government and non-government organizations. Keeping the safety of environment as the major point of concern and the need of ecofriendly fertilizers the global biofertilizer s are gaining good space in the market.
Some of the restraints faced by the industry are lack of awareness about the products and hence hesitation of the farmers to use the biofertilizer exists. There is a low acceptance rate of biofertilizer s as compared to the chemical fertilizers
The major market players of the field are Novozymes A/S, Madras fertilizers, National fertilizers, Rizobactor Argentina, Gujarat state fertilizers etc.
Release ID: 775