According to the latest report by IMARC Group, titled "GCC biofertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the GCC biofertilizer market size is expected to exhibit a CAGR of 14.1% during the forecast period (2023-2028). Biofertilizer is used to provide essential nutrients and increase soil fertility. It contains living microorganisms, such as bacteria, fungi, and algae that the plants easily absorb. It aids in colonizing the root system and improving the nutrient content and fertility of the soil. It also assists in fixing atmospheric nitrogen, solubilizing phosphorus, mobilizing potassium, and producing growth-promoting substances, such as vitamins, enzymes, and plant hormones. Moreover, it enhances nutrient availability, increases growth, and improves overall plant health. At present, biofertilizer is employed in cereals and grains, pulses and oilseeds, and fruits and vegetables crops across the GCC region.
GCC Biofertilizer Market Trends:
The rising population and consequently increasing need for food represent one of the key factors currently catalyzing the demand for biofertilizers in the GCC region. In addition, the growing health and environmental concerns are increasing the sales of organic food. This, along with the eco-friendly nature, low production costs, and easy availability of raw materials, is creating a favorable market outlook. Besides this, governments of various countries in the GCC region are actively promoting sustainable agriculture practices and supporting the use of biofertilizers through subsidies and other incentives, which is offering lucrative growth opportunities to key market players operating in the region. Furthermore, the increasing awareness about the benefits of biofertilizers is stimulating the market growth in the region.
- On the basis of the type, the market has been segmented into nitrogen-fixing biofertilizers, phosphate-fixing biofertilizers, and others. At present, nitrogen-fixing biofertilizers account for the largest market share.
- Based on the crop, the market has been classified into cereals and grains, pulses and oilseeds, fruits and vegetables, and others. Cereals and grains currently dominate the market.
- On the basis of the microorganism, the market has been categorized into cyanobacter, rhizobium, phosphate solubilizing bacteria, azotobacter, and others. Presently, cyanobacter exhibits the largest market share.
- Based on the mode of application, the market has been classified into seed treatment, soil treatment, and others. At present, seed treatment accounts for the largest share of the market.
- Country-wise, the market has been divided into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain. Amongst these, Saudi Arabia enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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||Type, Crop, Microorganism, Mode of Application, Country
||Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain
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