Asia-Pacific Mycorrhizae Based Biofertilizers Market to Grow with a CAGR of 8.10% through 2028
Growing demand for natural & organic farming and
enhancing the soil health are the major driver of the Asia-Pacific Mycorrhizae
Based Biofertilizers Market in the forecast period 2024-2028
According to TechSci Research report, “Asia-Pacific
Mycorrhizae Based Biofertilizers Market- By Country, Competition, Forecast and
Opportunities, 2018-2028”, the Asia-Pacific Mycorrhizae Based
Biofertilizers Market stood at USD 116.83 million in 2022 and is anticipated to
grow with a CAGR of 8.10% through
2028.
Mycorrhiza-based biofertilizers harness the potential of vesicular arbuscular
mycorrhizal fungi to establish a mutually beneficial symbiotic relationship
with plant root systems. This synergy results in the expansion of the plant's
root surface area, significantly enhancing its capacity to absorb nutrients.
These mycorrhizal fungi play a crucial role in extracting essential elements,
such as phosphorus and micronutrients, from the soil, effectively transporting
them to the plant's roots. Consequently, crops benefit from heightened nutrient
levels, ultimately contributing to the improved nutritional quality of organic
produce. Furthermore, mycorrhizae actively facilitate nutrient cycling and
enhance soil structure, thereby promoting the long-term fertility and vitality
of the soil. This sustainable approach reduces reliance on chemical inputs,
delivering environmental benefits while positively impacting the economic
well-being of farmers. Additionally, the adoption of mycorrhizae-based
biofertilizers results in reduced nutrient leaching into water bodies,
effectively minimizing water pollution. Furthermore, these biofertilizers
enhance plant resilience, potentially reducing the necessity for pesticides and
other chemical treatments. In conjunction with these advantages, mycorrhizal
fungi have been linked to increased carbon sequestration in soils, offering a
significant contribution to global efforts aimed at mitigating climate change.
Moreover, mycorrhizae-based biofertilizers adhere to
plant rhizoids, facilitating the formation of hyphae. These hyphae, in turn,
stimulate the proliferation and expansion of fine white roots within the soil,
leading to a substantial enlargement of the rhizosphere. The growing demand for
mycorrhizae-based biofertilizers in the market is attributable to the unique
symbiotic relationship these fungi establish with plant roots, enhancing the
growth and resilience of the plants they colonize. Additionally, these
biofertilizers offer advantages suitable for both organic farming and
conventional commercial agriculture, further propelling market expansion.
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Furthermore, mycorrhiza-based biofertilizers serve as
an eco-friendly and sustainable alternative to chemical fertilizers. Their
ability to reduce reliance on chemical fertilizers while simultaneously
promoting soil health results in increased crop yields and enhanced
agricultural productivity. These factors are anticipated to drive greater
demand for mycorrhizae-based biofertilizers in the foreseeable future, positioning
them as a significant player in modern agriculture.
The Asia-Pacific Mycorrhizae Based Biofertilizers
Market is segmented into type, form, mode of application, application, country
distribution, company and region
Based on type, the market is divided into
endomycorrhizae and ectomycorrhizae. Endomycorrhizae is expected to hold the
largest market share in the forecast period with 79.43% in 2022 due to its
potential to revolutionize modern agriculture. This growth is primarily driven
by the increasing preference for endomycorrhizae, which offer benefits such as
enhanced water absorption efficiency, alleviation of water stress, and improved
resistance to drought, making them increasingly popular among farmers.
Furthermore, endomycorrhizae play a pivotal role in the formation of intricate
structures known as arbuscules, which facilitate efficient nutrient exchange
between the fungus and the plant. This symbiotic relationship results in
mutually beneficial growth advantages, contributing to the growth of the Asia-Pacific
Mycorrhizae-Based Biofertilizers Market throughout the forecast period.
Based on form, the market is categorized into liquid
and solid. Liquid is expected to hold the largest market share in the forecast
period with 59.42% in 2022, a significant benefit of liquid mycorrhizae-based
biofertilizers lies in their exceptional capacity to significantly enhance
nutrient uptake in plants. Mycorrhizal fungi form a symbiotic alliance with
plant roots, extending the root system's reach and enhancing its ability to
absorb essential nutrients, particularly phosphorus and nitrogen. In liquid
form, these biofertilizers are readily taken up by plant roots, leading to a
quicker and more efficient nutrient absorption process.
Based on mode of application, the market is segmented
into soil treatment, seed treatment, and fertilization treatment. Soil
treatment is expected to hold the largest market share in the forecast period
with 41.29% in 2022. This can be attributed to the ease of their application.
Soil treatment methods are straightforward and seamlessly integrate with
existing agricultural practices, ensuring accessibility to a broad spectrum of
farmers. Furthermore, the application of biofertilizers containing mycorrhizal
spores and mycelium to the soil can be accomplished through a variety of
techniques, including soil incorporation during planting, uniform distribution
across the soil surface, or delivery to the root zone via irrigation systems.
All these approaches contribute to improved plant growth, thereby fostering the
expansion of the Asia-Pacific Mycorrhizae Based Biofertilizers Market in the
projected period.
Based on application, the market is segmented into
agricultural and non-agricultural. Agricultural segment is expected to hold the
largest market share in the forecast period with 85.45% in 2022. The increased
production of diverse food items, including cereals, grains, fruits,
vegetables, and others aimed at fostering the creation of nutritious products,
has generated a heightened demand. Importantly, the mycorrhizae-based
biofertilizers market is affected by the growing pressure resulting from
population growth, which has led to a substantial increase in agricultural
requirements. As a result, this surge in demand has significantly propelled the
market's growth.
Based on country, China is expected to hold the
largest market share in the Asia-Pacific Mycorrhizae Based Biofertilizers
Market. China's agricultural landscape is experiencing a notable shift towards
sustainable and eco-friendly farming practices, and this transition has sparked
a growing demand for mycorrhizae-based biofertilizers in the country. As one of
the world's largest agricultural producers, China faces the challenge of
ensuring food security while minimizing the environmental impact of farming.
Mycorrhizae-based biofertilizers have emerged as a promising solution to
address this challenge. These biofertilizers promote healthier plant growth by
forming mutually beneficial relationships between plants and mycorrhizal fungi,
enhancing nutrient absorption and stress tolerance. With China's vast and
diverse agricultural sector, the demand for tailored biofertilizer solutions
for different crops, such as rice, wheat, and vegetables, has been on the rise.
Government initiatives in China have further fueled the demand for
mycorrhizae-based biofertilizers. The Chinese government has been actively
promoting sustainable agriculture and encouraging farmers to adopt
environmentally friendly practices. This includes reducing the use of chemical
fertilizers and pesticides, which has led to a heightened interest in
biofertilizers like mycorrhizae-based products. In addition, subsidies and
incentives for eco-friendly farming practices have made these biofertilizers
more economically viable for Chinese farmers.
Furthermore, the awareness of soil health and
long-term sustainability is growing among Chinese farmers and consumers alike.
Healthy soil is essential for high-quality crop production, and
mycorrhizae-based biofertilizers contribute to improving soil structure and
fertility. As consumers become increasingly conscious of the food they consume,
the demand for sustainably grown, nutritious produce has surged. This has led
farmers to explore biofertilizers as a means to enhance the quality of their
crops, which, in turn, has contributed to the rising demand for
mycorrhizae-based biofertilizers in China's agricultural sector.
Major companies operating in Asia-Pacific Mycorrhizae
Based Biofertilizers Market are:
- UPL Limited
- Coromandel International Limited
- Agri Life (India) Private Limited
- Paras Crops Limited
- Peptech Biosciences Ltd.
- Hindustan Bec. Tech. India Pvt.ltd.
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“With increasing awareness among farmers and
agricultural stakeholders about the benefits of mycorrhizal fungi, the market
is witnessing a surge in demand. Moreover, ongoing research and development
efforts are leading to the formulation of advanced mycorrhizae-based products
tailored for specific crops and environmental conditions, further expanding the
market's potential. Furthermore, government support and regulatory initiatives
promoting sustainable agriculture are propelling the acceptance of
mycorrhizae-based biofertilizers. Incentives, subsidies, and educational
programs aimed at encouraging eco-friendly farming practices creates a
lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Asia-Pacific Mycorrhizae Based Biofertilizers
Market, By Type (Endomycorrhizae, Ectomycorrhizae), By Form (Liquid, Solid), By
Mode of Application (Soil Treatment, Seed Treatment, and Fertilization
Treatment), By Application (Agriculture, Non-Agriculture), By Country, By Competition,
Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Asia-Pacific Mycorrhizae Based Biofertilizers
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Asia-Pacific Mycorrhizae
Based Biofertilizers Market.
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