DUBLIN, March 20, 2013 /PRNewswire/ --
Research and Markets has announced the addition of the " Global Biofertilizers Market (Nitrogen Fixing, Phosphate Solubilizing, & Potash Mobilizing) by Types, Applications & Geography - Trends & Forecasts to 2017" report to their offering.
The global biofertilizers market consists of nitrogen fixing biofertilizers, phosphate solubilizing biofertilizers, potash mobilizing biofertilizers and other biofertilizers like Zinc and Sulphur solubilizing biofertilizers. Nitrogen fixing biofertilizers are the dominant sector of this market in terms of market revenue.The global biofertilizers market is dominated by Europe and Latin American countries like Argentina, which is a part of ROW, together accounting for 80% of the market revenue. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in emerging countries such as China and India due to the rising awareness among the population triggered by government promotion. The rate of production of biofertilizers has also increased due to the favorable policies designed by government in various countries. The driving factors of the global biofertilizers market are increased demand for organic food products, promotion of biofertilizers by various government agencies to create awareness among the masses and environmental hazards associated with chemical fertilizers. The global biofertilizers market is restrained by many factors such as lack of awareness about the concept of biofertilizers which is restraining the growth of the industry. Various advantages of chemical fertilizers are another factor which is holding back the customers from making a switch to biofertilizers. The low rate of adoption is due to the disadvantages associated with biofertilizers. Leading manufacturers are focused on expansion of the business in the domestic market and setting up new plant for increasing production capacity as well as product line. On the basis of types: