Mycorrhiza-based Biofertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Mycorrhiza-based Biofertilizer Market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Rest of the World and further, each region is sub-segmented into different countries.

Market Snapshot

mycorrhiza based biofertilizer market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: Asia Pacific
CAGR: 14.8 %

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Market Overview

The mycorrhiza-based biofertilizer market was valued at USD 268.8 million in 2019, and it is projected to be worth USD 621.6 million by 2025, by registering an estimated CAGR of 14.8% during the forecast period, 2020-2025. Governments of different countries are providing various schemes for encouraging the manufacturers of biofertilizers, and they are taking several initiatives to bring about a shift from conventional farming practices to organic farming practices. All this is encouraging the use of mycorrhiza biofertilizers. Increased food demand and the need for sustainable agricultural development, impressive efficacy on the growth of important crops, and depleting phosphorous levels in soils are the factors driving the market. While high demand for synthetic fertilizers and low shelf life of microorganisms are expected to restrain the market. This pandemic situation has impacted their businesses, but there is no significant impact on the global operations and supply chain of mycorrhiza-based biofertilizers. Multiple manufacturing facilities of players are still in operation. This in turn has led the mycorrhiza manufacturers to meet the demand-supply gap for these biofertilizers since there is a growing trend towards organic products.

Scope of the Report

Mycorrhiza is a fungus that establishes a symbiotic association between a fungus and avascular host plant's roots. Mycorrhiza is a symbiotic and mutualistic relationship between soil fungi and plant roots. The plants in which this association is seen are corn, carrots, leek, potatoes, beans, soybeans, other legumes, tomatoes, peppers, onions, garlic, sunflower, strawberries, citrus, apples, peaches, grapes, cotton, coffee, tea, cocoa, sugarcane, forest species, wild plants, and even weeds. The market is segmented by geography as North America, Europe, Asia-Pacific, South America, and the Rest of the World.

Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East & Africa
South Africa
Rest of Middle East & Africa

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Key Market Trends

Depleting Phosphorous Levels in the Soil

Phosphorus is a macronutrient that plays many crucial roles in plants. It is a vital component of nucleic acids, thereby, playing a vital role in plant reproduction, of which, grain production is an important result. The concentration of soluble phosphate in most soil solution is very low, and phosphorus is relatively immobile in the soil. Adding to that, the overuse of agricultural land by continuous cropping and frequent drought conditions have led to further depletion of phosphorous levels in many regions around the world. Given the rising global demand for food and the current rate of phosphorus extraction brought by increasing use and decreasing worldwide supply, there is a dire need for a sustainable alternative. Microorganisms, such as mycorrhizal fungi that can greatly enhance phosphorus uptake could thus be a very effective approach to overcome the phosphate crisis. For instance, in India, a major agricultural country, phosphorus deficiency is widespread in all major rice ecosystems. Large scale use of mycorrhiza-based biofertilizers for rice production has resulted in yield increases of around 10% along with a significant reduction of chemical fertilizer use. Thus, mycorrhizal biofertilizers can effectively enrich the soil with phosphorus deficiency

Mycorrhiza based biofertilizer market1

Asia-Pacific Dominates the Market

Mycorrhizae contribute significantly to plant nutrition, particularly to phosphorus uptake. They contribute to the selective absorption of immobile (P, Zn, and Cu) and mobile (S, Ca, K, Fe, Mn, Cl, Br, and N) elements from plants and water uptake. In India, commercial mycorrhiza-based biofertilizers are used on large-scale rice production. They have resulted in around 10% yield increases with a 25-50% reduction of fertilizer, considering India’s low phosphorus soils. With the rising price of phosphate fertilizers and almost 50% of Indian soils being phosphorous deficient, mycorrhiza can play a major role in farm fertilization.​ In 2017, China’s Ministry of Agriculture released a pilot plan for fertilizer replacement in around 100 districts of China, which aimed at reducing chemical use fertilizer by at least 20% by 2020. Thus, in turn, encouraging the use of mycorrhiza biofertilizers in the country.​ Since mined phosphate levels in the Chinese soils have been depleted, mycorrhiza fertilizers can serve as excellent alternatives to chemical counterparts to revive the phosphate levels in the soils naturally.​

market2

Competitive Landscape

The mycorrhiza-based biofertilizers market is an extremely fragmented market with many regional players occupying shares to be competitive in the market. Companies operating in the mycorrhiza based bio-fertilizer market are adopting various strategies, such as product launches, partnerships, and acquisitions, to gain a larger share in the market. Investment in R&D and the introduction of new products is a primary strategy adopted by all major companies involved in the market studied. Apart from product launches, companies are entering into partnerships and agreements, in order to increase their customer base and develop R&D capabilities.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 North America

        1. 5.1.1.1 United States

        2. 5.1.1.2 Canada

        3. 5.1.1.3 Mexico

        4. 5.1.1.4 Rest of North America

      2. 5.1.2 Europe

        1. 5.1.2.1 Germany

        2. 5.1.2.2 United Kingdom

        3. 5.1.2.3 France

        4. 5.1.2.4 Spain

        5. 5.1.2.5 Italy

        6. 5.1.2.6 Russia

        7. 5.1.2.7 Rest of Europe

      3. 5.1.3 Asia Pacific

        1. 5.1.3.1 China

        2. 5.1.3.2 Japan

        3. 5.1.3.3 India

        4. 5.1.3.4 Australia

        5. 5.1.3.5 Rest of Asia-Pacific

      4. 5.1.4 South America

        1. 5.1.4.1 Brazil

        2. 5.1.4.2 Argentina

        3. 5.1.4.3 Rest of South America

      5. 5.1.5 Middle-East & Africa

        1. 5.1.5.1 South Africa

        2. 5.1.5.2 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Agrinos

      2. 6.3.2 AgriLife

      3. 6.3.3 Symborg SL​

      4. 6.3.4 Suståne Natural Fertilizer Inc.

      5. 6.3.5 Valent Biosciences​ LLC

      6. 6.3.6 Symbiom SRO

      7. 6.3.7 Asfertglobal

      8. 6.3.8 Privi Life Sciences Pvt. Ltd

      9. 6.3.9 Phms Technocare Private Limited

      10. 6.3.10 Sikko Industries Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. THE IMPACT OF COVID-19 ON THE MARKET​

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Frequently Asked Questions

The Mycorrhiza-Based Biofertilizer Market market is studied from 2016 - 2026.

The Mycorrhiza-Based Biofertilizer Market is growing at a CAGR of 14.8% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Agri Life, Agrinos, Symborg, Suståne Natural Fertilizer, Inc., Valent BioSciences LLC are the major companies operating in Mycorrhiza-Based Biofertilizer Market.

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