According to a market report by Lucintel, the future of the global mycorrhizae-based biofertilizers market looks promising with opportunities in the agriculture, oilseeds & pulses, and non-agriculture markets. The global mycorrhizae-based biofertilizers market is expected to reach an estimated $1.6 billion by 2030 with a CAGR of 14.5% from 2024 to 2030. The major drivers for this market are shift in demand for natural and sustainable flavors, surge in demand for organic food, and detrimental impacts of synthetic fertilizers on environment.
In this market, ectomycorrhizae and endomycorrhizae are the major segments of mycorrhizae-based biofertilizers market by type.
Lucintel forecast that ectomycorrhizae is expected to witness highest growth over the forecast period.
Within this market, agriculture will remain the largest segment due to increased production of a variety of food items, such as fruits, vegetables, cereals and grains, and many others, in order to generate healthier products.
North America is expected to witness highest growth over the forecast period due to greater government involvement in organic farming methods and early acceptance of cutting-edge and novel products in the US and Canada.
Novozymes, UPL, Premier Tech, Groundwork, Plant Health Care, Valent Biosciences, Vegalab, Agrinos, Agrilife and Sustane Natural Fertilizer are the major suppliers in the mycorrhizae-based biofertilizers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]