Biofertilizers: A Sustainable and Eco-friendly Alternative to Chemical Fertilizers - ReAnIn Analysis - Yahoo Finance

HYDERABAD, India, April 5, 2022 /PRNewswire/ — According to ReAnIn, the global biofertilizers market was valued at USD 2,755.7 million in the year 2021 and is projected to reach USD 6,245.9 million by the year 2028, registering a CAGR of 12.4% during the forecast period. Environmental concerns associated with chemical fertilizers, growing demand for better quality residue-free or organic food, and biofertilizers' ability to achieve better yield while also enhancing soil health are fueling the growth of the biofertilizers market. However, lack of awareness, shorter shelf-life, and high production costs of biofertilizers are major restraining factors in this market.
Download free sample: Global Biofertilizers Market Growth, Share, Size, Trends and Forecast (2022 – 2028)
Expansion of Organic Agriculture
According to the Research Institute of Organic Agriculture (FiBL), organic farming was conducted in 190 countries in 2020 significantly higher than in 2010 (160 countries); and total organic agricultural land has more than doubled in the last decade from 37 million hectares in 2010 to 74.9 million hectares in 2020. Growing demand for organic foods and consumers' willingness to pay even extra for organic products has led to this expansion in organic agriculture. Currently, organic agricultural land represents only 1.6% of total agricultural land and hence, there are ample opportunities for further growth.
Case Study: Learnings from Sri Lanka on Adopting Organic Farming
In April 2021, the government of Sri Lanka banned the import of all chemical fertilizers and hence, forced more than 2 million farmers to go organic. The result of this hasty decision was drastic and brutal. Sri Lanka, self-sufficient in rice production, had to import USD 450 million worth of rice as rice production fell by more than 20% in just six months. Similarly, this ban had a severe impact on tea production, one of the primary sources of foreign exchange. The falling production of various crops pushed the government to partially lift the ban on chemical fertilizers and allowed private sectors to import it. This reversal of decision may not result in a rebound of the economy immediately as it had already started price hikes across sectors including food and beverage, petroleum products, and various others; and this import ban was one of the key reasons for the current economic crisis the country is facing today.
There are two important learnings from the current crisis – first, forcing the entire country to go organic by banning chemical fertilizers may not be the correct way to promote organic agriculture; and second, the government must find a way to compensate for the loss in production due to use of biofertilizers in short and medium-term.
Key Highlights of the Report:
Due to differences in awareness about biofertilizers and their accessibility across the regions, there is a varied adoption rate for biofertilizers. North America accounted for the highest share (35.2%) in the global biofertilizers market, followed by Europe (28.9%) in 2021.
Among product types, nitrogen-fixing biofertilizers accounted for the majority of the market share (~75%) in 2021 and is also expected to grow with the highest CAGR during the forecast period (2022 – 2028)
In spite of the advantages of biofertilizers in comparison with chemical fertilizers, the adoption of biofertilizers is expected to increase gradually and a complete ban on chemical fertilizers may not be the correct way forward.
Access the report description on: Global Biofertilizers Market
Market Segmentation:
ReAnIn has segmented the global biofertilizers market by:
Product Type
Form
Mode of Application
Crop Type
Region
Competitive Landscape
Leading players in this market include Novozymes A/S, National Fertilizers Limited, Vegalab SA, Chr. Hansen Holding A/S, Kiwa Bio-Tech, Rhizobacter Argentina SA, T.Stanes and Company Limited, Nutramax Laboratories Inc., Symborg, Mapleton Agri Biotech Pty Ltd, Seipasa, AgriLife, Valent BioSciences, Agrinos, Valagro, Lallemand, LKB BioFertilizer, IPL Biologicals Limited, Biomax Naturals, Manidharma Biotech Pvt Ltd, and Criyagen.
Know more about this report: Global Biofertilizers Market
About ReAnIn
ReAnIn provides end-to-end market research services which span across different support areas such as syndicated market research reports, custom market research reports, consulting, long-term engagement, and flash delivery. We are proud to have more than 100 Fortune 500 companies in our clientele. We are a client-first organization and we are known not just for meeting our client expectations but for exceeding them.
Media Contact:
Name: Deepak Kumar
Email: press@reanin.com
Phone: +1 469-730-0260
View original content:https://www.prnewswire.com/news-releases/biofertilizers-a-sustainable-and-eco-friendly-alternative-to-chemical-fertilizers–reanin-analysis-301517749.html
SOURCE Reanin Research & Consulting Private Limited
You are certainly far from alone in wanting to retire as soon as you can but not knowing when it would be appropriate, or how much money is enough. Don’t get me wrong: $800,000 in retirement accounts plus the $400,000 in nonretirement assets is a lot of money, but not if you need that money to last for both of your lifetimes. Ask yourselves what exactly it is you want to do in retirement, or why it is you want to retire right now.
Google employees are returning to the office three times a week. But a former Googler says that may not last long.
Laurence Kotlikoff, author of “Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life," shares his advice for retirement planning.
Wayne Orr did not yet know that his foot was broken as he made his way back from Texas to his home in South Carolina, but he did know that he could not continue pressing the pedals on the tractor-trailer he had been driving. A new driver only a few months past his training period, he had to sit out for six weeks without pay. Then, when his foot finally healed, he discovered that his company, CRST Expedited, had fired him. Frustrated and needing a paycheck, he found a new job driving for Schneide
Yahoo Finance Live looks at survey data examining paid internship wages and the willingness of workers willing to return to the office.
An employee rebellion appears to be underway over return-to-office policies at some of the nation's most prominent companies.
Russia’s invasion of Ukraine and penalizing sanctions against Moscow have roiled financial markets and wreaked havoc on global supply chains in recent weeks. Jamie Dimon thinks the worst is yet to come.
‘This was kind of a straw that broke the camel’s back situation where everyone was feeling unappreciated,’ bartender says
Delaying the age for required minimum distributions gives retirees more opportunities to use certain tax strategies.
(Bloomberg) — America’s drivers are being squeezed at the pump, and the root cause is surging oil prices. But that’s not the whole story.Most Read from BloombergU.S. Drones for Ukraine Will Include Latest Tank KillersA 30-Year-Old Crypto Billionaire Wants to Give His Fortune AwayRussia’s Effort to Avoid Default Undermined by New U.S. SanctionU.S, EU to Hit Russian Investments With New Round of SanctionsUkraine Update: Zelenskiy to Address UN Body; China Holds TalksGasoline prices rise and fall
PARIS (Reuters) -Airbus has revoked the contract for a third A350 ordered by Qatar Airways after the Gulf carrier rejected delivery in an ongoing dispute over damage to the surface of the long-haul jets, two people familiar with the matter said. The number of A350s grounded by the airline in the dispute over exposed and damaged lightning protection has reached 23, bringing the value of compensation sought by the carrier to slightly over $1 billion, they said. The two sides have wrangled for more than a year over accelerated surface damage that the airline says raises questions over the safety of the planes, with Qatar's regulator grounding jets as the problem appears.
(Bloomberg) — Exxon Mobil Corp. signaled its highest profit since 2008 as Russia’s war in Ukraine upended global commodity markets.Most Read from BloombergA 30-Year-Old Crypto Billionaire Wants to Give His Fortune AwayU.S. Drones for Ukraine Will Include Latest Tank KillersElon Musk Takes 9.2% Stake in Twitter After Hinting at Shake-UpUkraine Update: Zelenskiy to Address UN Body; China Holds TalksChina Finds New Virus Subtype as Daily Cases Exceed 13,000Exxon’s announcement that first-quarter r
A House panel will hold a hearing this week with oil company executives as consumers across the country allege gasoline price gouging at the pump, where drivers last month paid record-high prices per gallon for the fuel. But experts have a reasonable explanation for the climb.
Activision Blizzard workers protest end of vaccine mandate
The payout to a large class of employees would settle allegations that Wells Fargo breached its fiduciary duty by favoring its own funds in the company retirement plan.
Yahoo Finance Live examines the JetBlue's latest acquistion offer to Spirit Airlines.
(Bloomberg) — Oil erased early losses after the European Union eschewed sanctions on Russian oil, and investors weighed the outlook for the dollar.Most Read from BloombergU.S. Drones for Ukraine Will Include Latest Tank KillersA 30-Year-Old Crypto Billionaire Wants to Give His Fortune AwayRussia’s Effort to Avoid Default Undermined by New U.S. SanctionU.S, EU to Hit Russian Investments With New Round of SanctionsUkraine Update: Zelenskiy to Address UN Body; China Holds TalksWest Texas Intermedi
The number of older workers who retired involuntarily a year after losing a job was 10 times higher than pre-pandemic times.
Combined, Atkins and Dickinson have 40 years experience at the two footwear powerhouse companies, giving Lululemon arguably more edge as analysts agree its new line could prove competitive.
Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia's invasion of Ukraine make purchases almost unaffordable, according to analysts and data. The Caribbean country, which is dependent on fuel imports mostly from political ally Venezuela to cover more than half of its demand, is since last month dealing with diesel and gasoline shortages leading to long lines in front of stations. Insufficient fuel imports are another major hurdle for Cuba's economy, struggling to recover following the coronavirus pandemic and harsher U.S. sanctions imposed by the administration of former President Donald Trump.