With repetitive usage of chemical fertilizers, agriculture industry has realized that although they can boost the yield for a few years, in the long run, they make the soil less fertile and are harmful for the crops’ nutritional value.
Hence, we are seeing a rapid growth in the organic fertilizer market which is projected to grow at a CAGR of more than 13 per cent by 2026.The increased practice of organic farming is one of the major factors behind the growth of the biological organic fertilizer market.
The emphasis on sustainable farming and government support to the manufacturers are two other factors that are augmenting the growth of the market. Organic fertilizers are derived from many animal and plant-based residues and mineral ores; they are also developed from beneficial microorganisms.
Biofertilizers or microbial inoculants are carrier-based ready-to-use live bacterial or fungal formulations, which on application to plants, soil or composting pits, helps in mobilization of various nutrients by their biological activity.