Bio Fertilizer Market Size, Share, Growth, Trend and Forecast – 2024 Global Bio Fertilizer Market The bio-fertilizers market size will grow by $ 1.17 billion during 2019-2024 and is projected to witness robust growth at a CAGR of 14.13% during 2019-24. The growth in the global bio fertilizers market can be attributed to the growing adoption of advanced and sophisticated technologies by farmers to increase arable land and improve the overall productivity. The global demand for bio-fertilizers is expected to rise because of growing consumer preference for organic food. Factors such as increased health consciousness, environmental awareness and rising disposable income are causing an extraordinary demand for organic foods globally. Due to increase in demand for food and decline in the total arable land, growing adoption of soil fertility management continues to increase, giving a major rise to the bio-fertilizers market, owing to their environmentfriendly and chemical-free nature.Biofertilizers are natural fertilizers made from biological wastes which contain living micro-organisms. Unlike chemical fertilizers, biofertilizers are environment friendly. They enrich the soil with organic nutrients and improve the fertility of the soil which in turn promotes a healthy growth of the plant or the crop. The growth in the industrial usage of corn is expected to drive the demand for the product over the forecast period. The utilization of corn in the high fructose corn syrup (HFCS) is likely to remain constant despite the decline in the domestic consumption. The growth is anticipated to remain constant for the HFCS owing to the export demand from Mexico which offset lower domestic demand. Advantages of biofertilizers: Improved Plants. Biofertilizers increase yield by up to 30 percent because of the nitrogen and phosphorus they add to the soil. The improvement in soil texture and quality helps plants grow better during periods of drought. Biofertilizers help plants develop stronger root systems and grow better.
Bio Fertilizer Market Size, Share, Growth, Trend and Forecast – 2024
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