South East Asia Biofertilizer Market to Reach $78.1 Million by 2030

 

Meticulous Research^®—a leading global market research company, published a research report titled ‘South East Asia Biofertilizers Market by Microorganism Type (Nitrogen-fixing Microbes, Phosphate Solubilizing Microbes), Crop Type (Cereals & Grains {Maize}, Oilseeds & Pulses), Mode of Application (Seed Treatment, Fertigation), Form - Forecast to 2030.’

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According to this latest publication from Meticulous Research^®, the South East Asia Biofertilizer market is projected to reach $78.1 million by 2030, at a CAGR of 10.3% from 2023 to 2030. The growth of this market is driven by the rising demand for organic food, the rising inclination towards sustainable and eco-friendly techniques to improve crop yields and soil health, increasing government initiatives to promote the use of biofertilizers, and the growing concerns regarding environmental safety. However, the high cost of biofertilizer production and the high demand for synthetic fertilizers are hampering the growth of this market to some extent.

Moreover, the growing adoption of fertilizers in emerging economies is expected to create market growth opportunities for the stakeholders operating in this market. However, the lengthy product registration and approval processes and lack of awareness regarding biofertilizers are major challenges for the players in this market.

Key Players:

The South East Asia biofertilizer market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the biofertilizer market in South East Asia are American Vanguard Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), IPL Biologicals Limited (India), Koppert B.V (Netherlands), Lallemand Inc (U.S.), Novozymes A/S (Denmark), Symborg Corporate, SL (Spain), UPL Limited. (India), Biostadt India Limited (India), ATLÁNTICA AGRÍCOLA, S.A. (Spain), and Suståne Natural Fertilizer, Inc. (U.S.).

The South East Asia biofertilizer market is segmented by microorganism type (nitrogen-fixing microbes {rhizobia bacteria, azospirillum, other nitrogen-fixing microbes}, phosphate solubilizing & mobilizing microbes {pseudomonas, bacillus, other phosphate solubilizing & mobilizing microbes}, potassium solubilizing & mobilizing microbes, other microorganism types), by crop type (cereals & grains {maize/corn, wheat, rice, other cereals & grains}, oilseeds & pulses, fruits & vegetables, other crop types), mode of application (seed treatment, foliar spray, fertigation, other modes of application), form (dry biofertilizers, liquid biofertilizers), and by country (Philippines, Thailand, Indonesia, Vietnam, and Rest of South East Asia).

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Based on microorganism type, the South East Asia biofertilizer market is segmented into nitrogen-fixing microbes, phosphate solubilizing & mobilizing microbes, potassium solubilizing & mobilizing microbes, and other microorganism types. In 2023, the nitrogen-fixing microbes segment is expected to account for the largest share of the South East Asia biofertilizer market owing to the increasing awareness about the health and environmental risks related to the use of synthetic fertilizers, rising awareness regarding nitrogen-fixing microbes, increasing government initiatives to support organic farming by adopting sustainability in modern agriculture, and growing use of modern irrigation techniques such as drip and sprinkler irrigation. In addition, this nitrogen-fixing microbes segment is further slated to register the highest CAGR during the forecast period of 2023–2030 as nitrogen-fixing microbes are a more economical, ecological, and profitable solution to provide nitrogen to plants, expected to increase their adoption.

Based on crop type, the South East Asia biofertilizer market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crop types. In 2023, the cereals & grains segment is expected to account for the largest share of the South East Asia biofertilizer market owing to the large area under cereal & grain cultivation in the region, growing demand for organic and naturally grown cereal and grain products, and the rising focus of farmers on minimizing the use of conventional fertilizers for cereal & grain production.

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Based on mode of application, the South East Asia biofertilizer market is segmented into seed treatment, foliar spray, fertigation, and other modes of application. In 2023, the seed treatment segment is expected to account for the largest share of the South East Asia biofertilizer market. The large market share of this segment is attributed to the rising awareness regarding the seed treatment of biofertilizer and the increasing use of biofertilizer in various crops such as rice, wheat, sorghum, maize, and oilseeds such as groundnut, sunflower, and soybean. In addition, it is associated with various benefits, such as increasing seed germination and decreasing the incidence of foot and root rot.

Based on form, the South East Asia biofertilizer market is segmented into dry biofertilizers and liquid biofertilizers. In 2023, the dry biofertilizers segment is expected to account for the larger share of the South East Asia biofertilizer market owing to the growing demand for dry form fertilizers due to their long-lasting effects, and high efficiency in all climatic conditions, various products, rising adoption of dry biofertilizers for lawn & garden applications and the wide & easy availability of raw materials.

Geographic Review

In 2023, the Philippines is expected to account for the largest share of the South East Asia biofertilizer market. The Philippines’s significant market share is attributed to increasing awareness regarding the benefits of biofertilizers, rising health awareness, which further increases the demand for organic food, increasing area under organic farming, and growing adoption of modern agriculture techniques such as drip irrigation and advanced spraying techniques. Furthermore, the government of the Philippines has implemented favorable policies and initiatives to promote the use of biofertilizers in agriculture, which has further propelled the market growth.

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Key Questions Answered in the Report:

·  What is the revenue generated by the sales of biofertilizers in South East Asia?

·  At what rate is the demand for biofertilizers projected to grow in South East Asia in the next 5-7 years?

·  What is the historical market size and growth rate for the South East Asia biofertilizer market?

·  What are the major factors impacting the growth of this market in South East Asia?

·  What are the major opportunities for existing players and new entrants in the market?

·  Which microorganism type, crop type, mode of application, and form segments are expected to create major traction for the manufacturers in this market?

·  What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the South East Asia biofertilizer market?

·  Who are the major players in the South East Asia biofertilizer market? What are their specific product offerings in this market?

·  What recent developments have taken place in the South East Asia biofertilizer market? What impact have these strategic developments created on the market?

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