HOME › Research Insight › Key Strategies Such as Acquisitions, New Product Developments, and Expansions Were Adopted by the Prominent Players in the Biofertilizers Market
Key Strategies Such as Acquisitions, New Product Developments, and Expansions Were Adopted by the Prominent Players in the Biofertilizers Market
The key players in the biofertilizers market include Novozymes A/S (Denmark), National Fertilizers Limited (India), Madras Fertilizers Limited (India), Gujarat State Fertilizers & Chemicals Ltd. (India), and Rizobacter Argentina S.A. (Argentina). Other players such as T. Stanes & Company Limited (India), Camson Bio Technologies Limited (India), Rashtriya Chemicals & Fertilizers Ltd. (India), Lallemand Inc. (Canada), and Nutramax Laboratories Inc. (U.S.) also have a strong presence in the market.
Key strategies such as acquisitions, new product developments, and expansions were adopted by the prominent players in the biofertilizers market. These players invested in R&D capabilities to offer diversified product portfolios, in order to compete with latest line of biofertilizer products and to strengthen their market position. Expansions formed a key strategy for the industry players to achieve growth and expand their presence in the global biofertilizers market. This strategy accounted for the largest share of all developments from January 2011 to July 2016.
In May 2012, Gujarat State Fertilizers & Chemicals Ltd. invested USD 124.90 million to increase its capacity and set up new projects for various fertilizer products, including urea and di-ammonium phosphate (DAP). In the same year, the company built a new manufacturing facility for the production of liquid biofertilizers and the brand Sardar Amin (granules & liquid) in Gujarat (India). This development helped to expand its biofertilizer product line.
Strategic expansions and new product developments were the core strengths of the leading players in this market. These core strengths helped the players to diversify their businesses geographically and strengthen distribution networks. Market leaders such as Novozymes A/S (Denmark), National Fertilizers Limited (India), Madras Fertilizers Limited (India), and Gujarat State Fertilizers & Chemicals Ltd. (India) have successfully tapped the potential markets through expansions and acquisitions. These companies focus on offering a wide range of innovative products for various applications, to cater to the large customer base, across the world.
Product innovation is considered to be a critical success factor in this market, with participants frequently filing patents to increase or preserve their market share. The global fertilizer market is shifting from chemical fertilizers toward biofertilizers. As a result, the competition between companies to launch biofertilizers is rising with the growing number of market players in the industry.
In January 2015, National Fertilizers Limited entered into a joint venture with Engineers India Limited (India) and the Fertilizer Corporation of India Limited (India), to revive the closed plant in Telangana (India), at an estimated project cost of USD 787.56 million. The new joint venture company was named “Ramagundam Fertilisers and Chemicals Ltd”, in which both companies would have a stake of 26% each.
Biofertilizers Market by Type (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), Microorganism (Rhizobium, Azotobacter, Azospirillium, Cyanobacteria, P-Solubilizer), Mode of Application, Crop Type, Form, and Region - Global Forecast to 2022
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