Nitrogen-Fixing BiofertilizersMarket- Global Industry Analysis and Forecast
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Nitrogen-fixing biofertilizers market is expected to reach USD 2.80 billion by 2028 growing at a growth rate of 10.90% in the forecast period 2021 to 2028. Increasing growth of the organic food industry along with rising consumption of organic foods among the consumers which will likely to act as a factor for the nitrogen-fixing biofertilizers market in the forecast period of 2021- 2028.
Biofertilizer is a material that consists of living microorganisms that help increase the supply of nutrients to plants by helping to grow plants. It increases soil nutrients when added to crops, soil, or plants, or makes them available to plants biologically. Since biofertilizers are needed for natural cultivation, the market is experiencing strong growth worldwide.
Increase in the usage of biofertilizers in ranches and private farms, growing hazards of using chemical fertilizers, rising number of initiatives by government agencies along with increasing awareness about the need for sustainability in modern agriculture, rising acceptance for advanced farming with drip irrigation and sprinklers, growing health concerns have also urged people to adopt organic foods and other agricultural products are some of the major as well as vital factors which will likely to augment the growth of the nitrogen-fixing biofertilizers market in the projected timeframe of 2021-2028. On the other hand, increasing need to improve crop productivity and yield per hectare to meet demand and supply gap along with rising concern over declining soil quality due to overuse of chemical fertilizers which will further contribute by generating massive opportunities that will lead to the growth of the nitrogen-fixing biofertilizers market in the above mentioned projected timeframe.
Increasing need of high capital investment and lack of improved infrastructure along with rising number of environmental and technological issues which will likely to act as market restraints factor for the growth of the nitrogen-fixing biofertilizers in the above mentioned projected timeframe. Lack of awareness and low adoption rate of biofertilizers along with availability of counterfeit products which will become the biggest and foremost challenge for the growth of the market.
What insights readers can gather from the Nitrogen-Fixing Biofertilizers Market report?
Learn the behavior pattern of every Nitrogen-Fixing Biofertilizers Market -product launches, expansions, collaborations and acquisitions in the market currently.
Examine and study the progress outlook of the global Nitrogen-Fixing Biofertilizers Market landscape, which includes, revenue, production & consumption and historical & forecast.
Understand important drivers, restraints, opportunities and trends (DROT Analysis).
Important trends, such as carbon footprint, R&D developments, prototype technologies, and globalization
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