Seed Treatment segment to dominate the Middle East & Africa Biofertilizers Market during 2020–2028
According to The Insight Partners market research study on “Middle East & Africa Biofertilizers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Microorganism, Crop type, and Application” is expected to reach US$ 178.49 million by 2028 from US$ 72.21 million in 2021. The market is estimated to grow at a CAGR of 12.2% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa biofertilizers market along with the drivers and restraints pertaining to the market growth. Burgeoning initiatives by government agencies and increase in awareness pertaining to the need for sustainability in modern agriculture, boost in the production and yield of crops, and strengthening rapid growth of organic farming are the major factor driving the growth of the Middle East & Africa biofertilizers market. However, limited shelf life of biofertilizer hinders the growth of Middle East & Africa biofertilizers market.
South Africa has the highest COVID-19 cases in the Middle East & Africa region, followed by Saudi Arabia and the UAE, among others. UAE was the first country in the Middle East & Africa to report a confirmed case of COVID-19. The impact of lockdown in the Middle Eastern and African countries was that various manufacturing companies related to the chemicals and materials industry was closed which led to a negative impact on the production of biofertilizer. As the manufacturing operations are being resumed and restriction are being uplifted, the biofertilizers market is expected to grow. The increase in organic and sustainable farming, along with an increase demand for organic food products during the pandemic will have a positive impact on the biofertilizers market.
The Middle East & Africa biofertilizers market is segmented on the basis of product type, microorganism, crop type, application, and country. Based on product type, the market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. In 2020, nitrogen fixing segment held the largest share in the market, phosphorus solubilizing is expected to be the fastest growing segment during the forecast period. Based on microorganism, the market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. In 2020, rhizobium segment held the largest share in the market, and phosphate solubilizing bacteria is expected to be the fastest growing segment during the forecast period. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market, and fruits and vegetables is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into seed treatment, soil treatment, and others. In 2020, seed treatment segment held the largest share in the market, and soil treatment is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. In 2020, Rest of MEA held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes; RIZOBACTER; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA are among the leading companies in the Middle East & Africa biofertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Rizobacter begins to develop Azospirillum-based inoculants which is free-living bacteria that associate with plants, promoting plant development.
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