Market Leaders: Novozymes A/S (Denmark), UPL Limited (India), and Premier Tech Ltd. (Canada) are Increasing Their Market Share Through Deals in Mycorrhizae-based Biofertilizers Market
The mycorrhizae-based biofertilizers market is projected to reach USD 1,087 million by 2027. The detrimental impacts of synthetic fertilizers to the environment, increasing shift towards sustainable agriculture and increase consumer preference towards organic foods is driving the growth of the market. Moreover, there is an increasing application of mycorrhizal biofertilizers, majorly arbuscular mycorrhizae species for agriculture crops because of multifunctional benefits such as increases nutrient intake and water, reduces soil erosion, required amount of phosphorus application to crops and tolerance to biotic and abiotic stresses.
The key players in the mycorrhizae-based biofertilizers market includes include Premier Tech (Canada), UPL Ltd. (India), Novozymes A/S (Denmark), Helena Agri Enterprises LLC (US), Groundwork BioAg (Israel), Valent BioSciences (US), and Lallemand (Canada). The key strategies the leading market players adopt include product launches, deals and expansion to maintain their top position in the market. For instance, in July 2022, Premier Tech Ltd. invested USD 33 million to construct a new facility in Montgomery, Alabama, US, for its Systems and Automation business, strengthening its presence in the American market. The expansion would increase capacity and optimize manufacturing facilities in the nutrition, industrial, organic, and agriculture market sectors. In December 2021, the company’s bio solutions segment has launched a new product named “Neo Root”, which is granular form mycorrhizal biofertilizer, can be applied to all the agricultural crops through soil application. By applying this mycorrhizal biofertilizer to crops, will increases the nutrient intake, required amount of phosphorus application, tolerance to biotic and abiotic stresses.
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Premier Tech Ltd. started its mycorrhizal inoculum production facility in the year 2000. The company produces mycorrhizal inoculants used as biofertilizers for healthy plant development. The growers and consumers business segment provides fungi-based bio stimulants from the AGTIV line to improve plants’ health and yield. The company has a strong regional presence across all major regions spread in around 27 countries. The company is increasing its market share in mycorrhizae-based biofertilizers market through expansion. In April 2022, Premier Tech Ltd. announced the asset acquisition of US-based Northwoods Organics. This transaction will allow Premier Tech to strengthen its position in the US through the addition of two peat bogs and a packaging plant for conditioning of horticultural products. In April 2022, Premier Tech Ltd. announced the asset acquisition of US-based Northwoods Organics. This transaction would allow Premier Tech to strengthen its position in the US by adding two peat bogs and a packaging plant for conditioning horticultural products.
UPL Limited is a multinational company that manufactures and distributes industrial chemicals, chemical intermediates, and specialty chemicals. The company also focuses on providing solutions for seeds, crop protection, soil enhancement, post-harvest solutions, and farmer-engagement initiatives. This ensures the presence of UPL across all the levels of the value chain. It provides a complete range of biological crop protection, seed treatment, and post-harvest solutions. It also provides specialty applications for niche and specialty crops, products for underserved pests, alternative application methods, such as seed, soil-applied technologies, and bio-based products. The company is increasing their market share in the mycorrhizae based biofertilizers market through product launches. In December 2021, SWAL is a subsidiary company of UPL limited, launched a new mycorrhizal biofertilizer named “TEKON GR”, which can be used as a soil application for Paddy, Wheat, Corn, Cotton, Sugarcane, Fruits & vegetables, Spices, Plantations and Cash Crops.
Novozymes A/S is a global biotechnology company primarily engaged in producing and marketing enzymes, microorganisms, and biopharmaceutical ingredients. The company manages its business through two major segments, namely, enzymes and bio-business. The company has over 700 products that are used in 130 countries. The company’s BioAg segment offers biological solutions to increase crop performance, which are derived from naturally occurring microbes and enzymes. The bioyield solutions supplement conventional fertilizers with microbial inoculants. They improve the availability of key nutrients such as potassium, phosphorus, and nitrogen. Overall, increased in the crop yields. The company offers mycorrhizal biofertilizers named “MycoPlex”, “RhizoMyco”, “RhizoMyx”, “Rhizomyx GR” which are available in granular form, can be applied to different agricultural crops such as fruits and vegetables, cereals and grains, oilseeds & pulses for enhancing the efficiency of using phosphorus fertilizer and soil, increase the yield potential and tolerance to biotic and abiotic stresses.
Related Reports:
Mycorrhizae-based Biofertilizers Market by Type (Ectomycorrhizae and Endomycorrhizae), Form (Liquid and Solid (Powder and Granules)), Mode of Application, Application (Agricultural and Non-agricultural) and Region - Global Forecast to 2027
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