Global Mycorrhizae-Based Biofertilizers Market Insights Forecasts to 2033

• The Global Mycorrhizae-Based Biofertilizers Market Size was Valued at USD 628.3 Million in 2023
• The Market Size is Growing at a CAGR of 13.09% from 2023 to 2033
• The Worldwide Mycorrhizae-Based Biofertilizers Market Size is Expected to Reach USD 2150.6 Million by 2033
• Europe is Expected to Grow the fastest during the forecast period.

 

Get more details on this report -

Request Free Sample PDF

 

The Global Mycorrhizae-based Biofertilizers Market Size is Anticipated to Exceed USD 2150.6 Million by 2033, Growing at a CAGR of 13.09% from 2023 to 2033.

 

Market Overview

Mycorrhizae are fungi that are found in the roots and soil of higher plants. They develop an association with the roots of plants in a non-host-specific manner, which helps in the promotion of plant growth in an environment-friendly manner while also delivering a variety of other benefits to the cultivation of plants. Mycorrhizae-based Biofertilizers attach to plant rhizoids and stimulate hyphae (spores) to grow. Hyphae promote the growth and spreading of white roots into the soil which results in a notable increase in the rhizosphere. The rapidly increasing demand for global mycorrhizae-based biofertilizers market can be attributed to the fungi that create a special symbiotic interaction with the roots of plants, promoting the growth and survivability of colonized plants. It is helpful in both conventional commercial farming and organic farming. They also improve plant's tolerance against plant pathogens and the surface area of the root system for better absorption of nutrients from the soil. Additionally, development in existing agriculture techniques, which are strongly encouraging the increased utilization of biofertilizers to enhance and maintain soil health, along with the increasing demand in the field of organic agriculture around the world, are projected to fuel the global market growth over the forecasted period.

 

Report Coverage

This research report categorizes the market for the global mycorrhizae-based biofertilizers market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global mycorrhizae-based biofertilizers market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global mycorrhizae-based biofertilizers market.

 

Driving Factors

The rapidly growing trend of organic farming is driving the growth global mycorrhizae-based biofertilizers market. This increases consumer consciousness of the rising health risks and growing levels of residues in food and other environmental challenges have led consumers to choose food products which is chemical-free. The market is fueled by rising food demand and the need for sustainable agricultural development, as well as the incredible efficacy of utilizing mycorrhizae to cultivate vital crops and the depletion of phosphorus levels in soils. Mycorrhizae-fortified plants are more resistant to stresses including disease, drought, and nutrient shortages, which lowers the need for chemical treatments. Furthermore, mycorrhizae benefit more than just a single crop; they also increase soil biodiversity and improve ecosystem health. Furthermore, research and development are crucial to the growth of the global mycorrhizae-based biofertilizers market. Still other studies are being undertaken in regards to the various species of mycorrhizal fungus, how such species help make plants better suited to become more adapt, as well as further improve the soil structure and cycling of nutrients. Genetic studies are also responsible for the improved biofertilizer formulations and helping maintain a longer shelf life.

 

Restraining Factors

Mycorrhizae-based biofertilizers are costly due to various aspects such as the identification and selection of viable mycorrhizal strains, along with the development of appropriate production procedures & which require expensive research and investment. Additionally, mycorrhizal fungi are living things that require a specific environment to remain viable. Exposure to adverse environmental conditions such as temperature extremes, moisture variation, or UV radiation can diminish their viability gradually. Furthermore, lack of knowledge about mycorrhiza-based biofertilizers in farmers and restricted use of mycorrhiza-based biofertilizers among farmers in developing and underdeveloped countries is projected to restrain the market expansion.

 

Market Segmentation

The global mycorrhizae-based biofertilizers market share is classified into type, form, and mode of application.

• The endomycorrhiza segment is expected to hold a significant share of the global mycorrhizae-based biofertilizers market during the forecast period.   

Based on the type, the global mycorrhizae-based biofertilizers market is divided into ectomycorrhiza and endomycorrhiza. Among these, the endomycorrhiza segment is expected to hold a significant share of the global mycorrhizae-based biofertilizers market during the forecast period. Endomycorrhiza, an arbuscular mycorrhiza, is characterized by fungal hyphae that penetrate the root cells of plants, forming intricate structures called arbuscles and these structures enable efficient nutrient exchange between the fungus and plant.

 

• The liquid segment accounted for the largest share of the global mycorrhizae-based biofertilizers market during the forecast period.   

Based on the form, the global mycorrhizae-based biofertilizers market is divided into liquid and solid. Among these, the liquid segment accounted for the largest share of the global mycorrhizae-based biofertilizers market during the forecast period.  One of the main reasons is that liquid biofertilizers are easy to utilize and rapidly absorbed by the plants through the roots or leaves, resulting in faster development and higher yields. Furthermore, liquid biofertilizers have an extended shelf life than solid formulations, making them more convenient for storage and distribution. Another advantage is that liquid biofertilizers can be adjusted with precise nutrient formulas, making them more effective in fulfilling specific plant growth needs.

 

• The seed treatment segment is expected to hold the highest share of the global mycorrhizae-based biofertilizers market during the forecast period.

Based on the mode of application, the global mycorrhizae-based biofertilizers market is divided into seed treatment, soil application, and fertilization treatment. Among these, the seed treatment segment is expected to hold the highest share of the global mycorrhizae-based biofertilizers market during the forecast period. In recent years, aggressive and constantly increasing consumption of synthetic fertilizers and many other crop chemicals such as pesticides and insecticides has resulted in the degradation of soil quality. However, several governments have enforced rules and regulations on the agriculture sector, which is expected to have a beneficial effect on the seed treatment sector in mycorrhizae-based biofertilizers

 

Regional Segment Analysis of the Global Mycorrhizae-based Biofertilizers Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to dominate the global mycorrhizae-based biofertilizers market over the predicted timeframe.

 

Get more details on this report -

Request Free Sample PDF

 

North America is anticipated to dominate the global mycorrhizae-based biofertilizers market over the predicted timeframe. This region's market is growing due to increased demand for organic products, acceptance of biofertilizers among rural farmers, and widespread implementation of improved irrigation methods including sprinkler and drip irrigation for fertigation. Mycorrhizae-based biofertilizers are becoming more popular in the US agricultural business due to rising organic food preferences, high crop productivity, quality demands, altering agricultural practices, and precision farming. The high disposable income of US consumers has led to increased demand for organic goods, driving the expansion of the mycorrhizae-based biofertilizer market in the country. The increased emphasis on organic farming, combined with the region's enormous population, is driving demand for worldwide mycorrhizae-based biofertilizers. In addition, rising consumer knowledge of the benefits of organic food consumption, as well as a high prevalence of farmers realizing the long-term good influence of fertilizers, are driving market expansion in the region.

 

Europe is expected to grow at the fastest pace in the global mycorrhizae-based biofertilizers market during the forecast period. Europe's rich agriculture industry offers vital biofertilizers. France, Germany, and the UK are major producers of mycorrhizae-based biofertilizers. European governments and regulatory authorities encourage ecologically friendly agriculture techniques. Incentives, subsidies, and restrictions can promote the use of mycorrhizae-based biofertilizers while discouraging excessive use of chemical fertilizers, leading to the growth of the industry.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global mycorrhizae-based biofertilizers market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Novozymes
• Rizobacter
• UniCorp Biotech
• Symborg
• Valent Biosciences
• Asfertglobal
• Agrinos
• Sustane Natural Fertilizer
• Sikko Industries
• Premier Tech Ltd
• AgriLife
• Lallemand Inc.
• Helena Agri-Enterprises, LLC
• Biolchim SPA
• Privi Life Sciences
• Indogulf BioAg LLC
• Others.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In April 2022, Premier Tech Ltd bought Northwoods Organics, a company headquartered in the United States. Premier Tech expects to increase its footprint in the US market with the acquisition of two peat bogs and a horticulture packaging business.

 

• In June 2022, Valent BioSciences LLC stated that it has approved a significant expansion of its biorational production plant in Osage, Iowa, to satisfy increased demand for its biorational products and introduce new products that would require additional capacity.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global mycorrhizae-based biofertilizers market based on the below-mentioned segments: 

 

Global Mycorrhizae-based Biofertilizers Market, By Type

• Ectomycorrhiza
• Endomycorrhiza

 

Global Mycorrhizae-based Biofertilizers Market, By Form

• Liquid
• Solid

 

Global Mycorrhizae-based Biofertilizers Market, By Mode of Application

• Seed Treatment
• Soil Application
• Fertilization Treatment

 

Global Mycorrhizae-based Biofertilizers Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa