Global Biofertilizers Market will grow at a CAGR of 13.4% in Future
Biofertilizers are a composition of living cells or microorganisms that help the crop to boost the intake of nutrients from root secretions when applied either through seed or soil. Biofertilizers are cost-effective and perfect supplement for chemicals to blend nutrient management for organic production. There are different types of biofertilizers based on their content and function. Key among them are nitrogen biofertilizer, phosphorus biofertilizer and compost biofertilizer. Market Dynamics The tremendous growth of biofertilizers market is supported by a positive shift in standards of living, increasing demand for organic food and high purchase power of end consumer. Followed by harmful effects of contaminated soils through heavy usage of synthetic chemicals, the industry is keen towards making a transition towards alternative sources for avoiding further degradation of soil quality and contamination. Governments across the globe have come up with social schemes to promote s...