Asia Pacific Biofertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteri

Asia Pacific Biofertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteria, and Others), Crop Type (Cereals and Grains, Oil seeds and Pulses, Fruits and Vegetables, and Others), and Application (Seed Treatment, Soil Treatment, and Others)

The biofertilizers market in Asia Pacific is expected to grow from US$ 442.26 million in 2021 to US$ 1122.21 million by 2028; it is estimated to grow at a CAGR of 12.6% from 2021 to 2028. The increase in government initiatives has led to the increased adoption of biofertilizers by the farmers of various countries. For instance, the Government of India is supporting the use of biofertilizers instead of chemical fertilizers through various state governments under various schemes/programs, viz: Paramparagat Krishi Vikas Yojana (PKVY), Mission Organic Value Chain Development for Northeastern Region (MOVCDNER). Also, there has been an increased need for sustainability in modern agriculture as the sustainable farming methods are the cornerstone of low input agriculture. The sustainable agriculture conserves energy, water, decreases the vulnerability to drought and reduces greenhouse gas emissions. Biofertilizers helps in improving the crop production as well as improves the soil health along with providing various growth-promoting hormones and phytohormones to the plants. Along with this, the biofertilizer does not leave any residual effects as compared to the chemical fertilizers and thus, is an ideal solution to be used for sustainable agriculture. Biofertilizer is also one of the essential components of integrated nutrient management as they are cost-effective and renewable source of plant protein for sustainable agriculture. Thus, increase government initiative along with increased need for sustainability in modern agriculture is increasing the demand for biofertilizers across the region.

The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The shutdown of manufacturing units and disruptions in supply chain and logistics have negatively impacted the biofertilizer market. During the COVID pandemic consumers in the region increasingly became conscious and aware about the significance of chemical-free and organic nutrition to improve immunity and build better well-being. The pandemic has affected the consumer behavior patterns in favor of organic produce, to the extent that it may become an embedded part of people’s buying habits. An increase in demand for organic products has led to an increase focus on organic farming and various countries in Asia Pacific are pushing organic farming. This is going to have a positive impact on the biofertilizers market.

The Asia Pacific biofertilizers market is segmented on the basis of product type, microorganism, crop type, and application. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market. The production of cereals and grains require a considerate amount of biofertilizers for its healthy development. Various studies conducted across the region has indicated that the cereals and grains crop reflects high development and growth with azotobacter inoculation which helps in reducing the nitrogen requirement by the crops. Along with this phosphate solubilizing bacteria and azotobacter inoculation were used for healthy development of wheat and these fertilizers were highly efficient in terms of crop yield. Along with this, biofertilizers are being increasingly used for cereals and grain cultivation as it provides high vegetation growth and high photosynthesis activity. Thus, biofertizers aiding healthy development of cereals and grains is increasing the demand for biofertilizers.

The Asia Pacific biofertilizers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific biofertilizers market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Asia Pacific biofertilizers market. AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes;

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