Biofertilizer & Phosphate Rice Organic Manure (PROM)
A bio fertilizer (also bio-fertilizer) is a substance which contains living microorganisms which, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant. Bio-fertilizers add nutrients through the natural processes of nitrogen fixation, solubilizing phosphorus, and stimulating plant growth through the synthesis of growth-promoting substances. Bio-fertilizers can be expected to reduce the use of chemical fertilizers and pesticides. The microorganisms in bio-fertilizers restore the soil’s natural nutrient cycle and build soil organic matter.
Phosphate rich organic manure is a type of fertilizer used as an alternative to diammonium phosphate and single super phosphate.
Phosphorus is required by all plants but is limited in soil, creating a problem in agriculture. In many areas phosphorus must be added to soil for the extensive plant growth that is desired for crop production. Phosphorus was first added as a fertilizer in the form of single super phosphate (SSP) in the mid-nineteenth century, following research at rothamsted experimental station in England. SSP is non-nitrogen fertiliser containing phosphate in the form of monocalcium phosphate and gypsum which is best suited for alkali soils to supplement phosphate and reduce soil alkalinity.
Biofertilizers and prom are a product that is likely to be commercially promising in the long run once information becomes available adequately to producers and farmers through experience and communication. In India, government has been trying to increase the application of bio fertilizers along with modern agrochemicals.
With the increasing pressure on global food production and development in technologies of fertilizer production, the demand for fertilizers is expected to increase, which in turn would enhance the growth of the biofertilizers market. As a whole it is a good project for new entrepreneurs to invest.
Few Indian Major Players Are As Under
- Abellonagrisciences Ltd.
- Agro Extracts Ltd.
- Champion Agro Ltd.
- Jupiter Biotech Ltd.
- Jutlibari Tea Co. Ltd.
- Krishna Industrial Corpn. Ltd.
- Madras Fertilizers Ltd.
- National Fertilizers Ltd.
Market Outlook
The biofertilizers market was valued at USD 946.6 Million in 2015; the market is projected to grow at a CAGR of 14.08% from 2016 to 2022.
Global biofertilizers market size was estimated at USD 535.8 million in 2014.
The global bio-fertilizers market is projected to expand at a CAGR of 13.6% over the forecast period i.e. 2016-2023. Further, the global market estimated to reach USD 1. 58 Billion By 2023 from USD 610.2 Million in 2015.
The global biofertilizers market was $1.06 billion in 2016 and is estimated to reach $2.1 billion, at a CAGR of 12.04% by 2022.
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