BIOMASS, BIOENERGY AND RENEWABLE CHEMISTRY
Growing demand for organic foods from health conscious consumers is expected to drive biofertilizers market growth
It is predicted that biofertilizers Market share will touch USD 1.66 billion till 2022 which is rising at a Compound Annual Growth Rate (CAGR) of 13.2% during the years from 2015 to 2022. This exponential growth of market is because of customers’ awareness towards fitness and wellness, bad effect of inorganic material and the rise in price of chemicals. There is a boom of organic food as its farming is popular in more than 160 countries across the world. In 2014, market of organic food reached USD 88.06 million and its growth is projected to touch USD 304.99 million till 2022, and its CAGR will remain 17.3% between years 2015 to 2022.
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Chemical fertilizers are widely used for increasing the productivity of plants, but they are responsible for pollution of underground water; these fertilizers also get stored in plants which becomes hazardous. These adverse effects of chemicals have enhanced biofertilizers market trends because of their eco-friendly nature. Nitrogen fixing biofertilizers are gaining huge publicity in the market and have noticed 75% of share in revenue in the year 2014. Increasing demand of nitrogen fixation for consuming nutritious compounds like nucleic acid, chlorophylls will give a significant boost to this industry. Apart from this, these fertilizers reduce dependency on the products of petroleum and minimize emission of carbon in the environment, thereby giving one more reason to use them.
Phosphate solubilizers are the second highest product and are anticipated to grow at the rate of 13% till 2022. Bacillus, pseudomonas along with aspergillums is commonly used bacteria which cater phosphorus to plants. With the adoption of organic nutrients, demand of phosphorus solubilizers is going to increase in near future.
It is the global reach of biofertilizers which has made North America a foremost region contributing around 30% of the overall share in 2014. Positive attitude of U.S. and Canada towards organic materials in agriculture has given an upsurge to North America. Countries like India and China are predicted to enjoy a decent CAGR of 13.5% till 2022. Agricultural growth in India, Pakistan, Indonesia, and China along with Malaysia is likely to include latest technologies for fuelling up the demand of these organic products.
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Talking about the companies dealing with these products, Novozymes A/S along with CBF China Biofertilizers AG are the top leading firms delivering their materials to Europe as well as North America. Companies working with these products take help from resellers, contractors and distributors for exporting them, but there are firms who follow an integrated process thereby working with own resellers and distributors.
Author Name : Dhananjay Punekar
Global Market Insights Inc. has announced an addition of a new research based report on farnesene market. The market size is estimated to upsurge at a growing CAGR of 27% by 2023 according to the report.
View a summary of the “Farnesene Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/farnesene-market
The professional and high quality report features in-depth market analysis on the global Farnesene industry. It initially provides an outlook of industry with the basic information such as definitions, application, classification, and technology etc. Moreover, it explores global market on the basis of application, products, region and competitive landscape. The report also lists key company profiles, market share, business strategies, financial metrics, forecast and estimations in terms of volume and value, coupled with key aspects that influence the market including impediments, challenges, opportunities and drivers, etc.
Increase in global biofuel production and usage owing to increased usage in automobiles and aviation sector to reduce carbon dioxide emissions is expected to have appositive impact on the market growth during the forecast period. Performance material applications are poised to experience significant growth over 40% CAGR by 2023.
Increasing use of ingredients derived through biotechnological route or from vegetable oil rather than animal sources is likely to drive market growth. Factors like use of alternative bio fuels, alteration in top feedstock harvest that is sugarcane are likely to hinder the market growth.
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Europe farnesene market size, with Germany, UK and France at dominating positions is likely to witness a substantial growth owing to use of sustainable product derived from biomass and implementation of environment measures to limit GHG emissions. Furthermore, the thriving European cosmetic industry is anticipated to impel industry demand. APAC region is projected to register surge in personal care and cosmetic industry with remarkable gains at a CAGR over 28% during the projected timeframe. Furthermore, increase in per-capita disposable expenditure capacity together with existence of several large scale manufacturing companies is anticipated to propel APAC demand in next few years.
Latin America market is forecast to see strong gains during the projected time frame.
Amyris dominate the global farnesene market share. It uses yeast to manufacture through biotechnology route. It has collaborated with Kuraray, Total, IFF to develop target molecule for relative applications including polymers, biojet fuels and fragrances. At present, Chromatin and Intrexon are in emerging stage for reaching commercial production level.
Author Name : Dhananjay Punekar