Mycorrhizae-Based Biofertilizers Market by Type (Ectomycorrhizae, Endomycorrhizae), Form (Liquid, Solid), Application - Global Forecast 2024-2030

Mycorrhizae-Based Biofertilizers Market by Type (Ectomycorrhizae, Endomycorrhizae), Form (Liquid, Solid), Application - Global Forecast 2024-2030

The Mycorrhizae-Based Biofertilizers Market size was estimated at USD 671.96 million in 2023 and expected to reach USD 760.59 million in 2024, at a CAGR 13.64% to reach USD 1,645.30 million by 2030.

Mycorrhizae-based biofertilizers are a form of sustainable agricultural solution that utilizes the symbiotic relationship between soil fungi, known as mycorrhizal fungi, and the roots of plants. By extending the plant's root system, mycorrhizae heighten the uptake of essential nutrients, including phosphorus and nitrogen, enhancing plant growth and productivity. Mycorrhizal fungi improve a plant's water-use efficiency, thereby increasing its ability to withstand drought conditions. Increasing agricultural awareness, the escalating necessity for sustainability, and issues related to food security have accelerated the adoption of mycorrhizae-based biofertilizers. Understanding of the long-term deleterious effects engendered by chemical fertilizers have resulted in an increased uptake of bio-fertilizers. However, high cost of production and lack of awareness in several regions might hamper widespread adoption. Continual advancements in biotechnology and growing governmental support will undoubtedly fortify this expansion, offering high-yielding and environmentally friendly solutions within the agricultural industry. Market players are working on introducing new solutions that can further improve soil fertility, plant nutrient accessibility, and agricultural productivity.

Regional Insights

In the Americas, the use of mycorrhizae-based biofertilizers is considerable due to technological advancements and an increasing awareness of the importance of sustainable farming. USA-based companies represent a major portion of biofertilizer production, contributing significantly to the global supply. Despite high production capacity, significant imports from Canada, particularly of Glomus intraradices species, demonstrate the region's robust demand. Asia stands as the fastest-growing region for mycorrhizae-based biofertilizers, with China and India being major producers. Governmental incentives to reduce chemical fertilizer usage, the growing population, and the need to boost agricultural productivity fuel its usage. Major players are investing heavily in research and development, promoting the production and application of these biofertilizers. European countries show a keen interest in organic farming practices, elevating the demand for mycorrhizae-based biofertilizers. Companies in the region are offering a variety of specialized mycorrhizal products to cater to region-specific demands. Middle East & Africa demonstrates a moderate deployment of mycorrhizae-based biofertilizers and its awareness is gradually increasing, spearheaded by South Africa and Israel. Local companies are investing in technologies to enhance the use and production of these biofertilizers, aiming for sustainable, climate-resilient agriculture.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Mycorrhizae-Based Biofertilizers Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing demand for organic food products among the urban population
Rising need for environmentally friendly bio-based fertilizers
Significant benefits of mycorrhizae amid the rising temperature and low water level

Market Restraints

Shorter shelf life of biofertilizers and less output than chemical fertilizers

Market Opportunities

Rising government investments in building sustainable economies
Biotechnological advancements in industrial production of arbuscular mycorrhizal fungi

Market Challenges

Limitations and higher cost associated with plant-specific biofertilizers

Market Segmentation Analysis

Type: Potential of endomycorrhizae to offer nutrients to a greater range of plants
Form: Preference for liquid fertilizers owing to their strong absorption capabilities
Application: Increased yield and quality of crop produce in agriculture with mycorrhizae-based biofertilizers
Distribution Channel: Wider availability and accessibility of Mycorrhizae-based biofertilizers through online channels

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Mycorrhizae-Based Biofertilizers Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Mycorrhizae-Based Biofertilizers Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Yara Introduces Innovative Plant Nutrition Solutions at Show Safra, Enhancing Crop Efficiency and Sustainability

Yara unveiled its new product, YaraAmplix Biotrac, aimed primarily at corn cultivation. This liquid biofertilizer, enriched with natural ingredients, including Ascophyllum nodosum seaweed and various plant extracts, is designed to enhance abiotic stress tolerance, nutrient utilization, yield, and overall crop quality for corn. The product also aids in the development of plant structures and commercially important parts such as leaves and fruits.

Bionema Launches New Range of Biofertilizers in the UK

Mycorrhizae-based biofertilizers were launched in the UK by Bionema Group Ltd., a biocontrol technology developer and manufacturer. The range consists of four living microbes encapsulated with the innovative Incapsulex technology platform. These microbes include Paenibacillus azotofixans BNL1913, Azospirillum lipoferum BNL714, Bradyrhizobium japonicum BNL1061, and Rhizophagus irregularis BNL2414. The use of biofertilizers contributes to the restoration of the natural soil nutrient cycle and the improvement of soil organic matter. As a result, plant growth is enhanced, and there is a potential reduction of up to 50% in the use of synthetic fertilizers. Bionema has conducted field trials, which have shown positive changes in soil organic matter content and pH, as well as improvements in soil type and agroecological conditions.

Launch of Inera CropScience: A New Frontier in Agri-Biotech by Absolute

Absolute initiated Inera CropScience, its agricultural bioproducts division, supported by its research and development subsidiary, Xenesis. The new venture introduces a comprehensive suite of agricultural solutions, including biofertilizers, biostimulants, biocontrols, and seed coating products. These innovations, which are designed to be effective across various crops, mark Absolute’s strategic entry into the Indian market with plans for further expansion.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Mycorrhizae-Based Biofertilizers Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Mycorrhizae-Based Biofertilizers Market, highlighting leading vendors and their innovative profiles. These include Agri Life, Asfertglobal, Lda., Atens, Bayer AG, Biostadt India Limited, Corteva Agriscience, Farmadil India LLP, FMC Corporation, Groundwork BioAg Ltd., Gujarat State Fertilizers & Chemicals Ltd., Helena Agri-Enterprises, LLC, Indogulf BioAg LLC, IPL Biologicals Limited, JH Biotech, Inc., Koppert, Lallemand Inc., Mycoroot (Pty) Ltd, Neologie Bio Innovations I Private Limited, Novozymes A/S, Peptech Biosciences Ltd., Phms Technocare Private Limited, Plant Health Care PLC, Privi Life Sciences Pvt Ltd, Real IPM Kenya Ltd., Symborg, Inc., T.Stanes and Company Limited, UPL Ltd., and Valent BioSciences Corporation.

Market Segmentation & Coverage

This research report categorizes the Mycorrhizae-Based Biofertilizers Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Ectomycorrhizae
Endomycorrhizae
Form
Liquid
Solid
Application
Agriculture
Fruits & Vegetables
Oilseeds & Pulses
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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