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treatment helps in improving the yield of crop and to sustain virus and bacteria attack. Increasing use of seed treated crops amongst farmers is likely to propel market growth of the industry.
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Soil treatment is done prior to planting to improve the crop yield and fertility of the soil. Countries such as the U. S., China, Italy and India are anticipated to have positive impact on market owing to requirement of fertile lands in these regions.
The Biofertilizers market was dominated by North America in the year 2014 and accounted for largest share in the global market followed by Europe. Asia Pacific is the fastest growing market owing to increasing population which has resulted in propelling demand for food. In addition rising prices of chemical fertilizers has also resulted in the market growth. China being the largest agricultural market is promoting the use of Biofertilizers by exempting the product VAT, tax and excise, hence increasing the demand of Biofertilizers globally.
Key players in the market include Symborg S. L., Gujarat State Fertilizers & Chemical Ltd., National Fertilizers Ltd., Agri Life, Antibiotice S. A., Madras Fertilizers Ltd. and Novozymes. The market is highly competitive in nature owing to strong competition on account of small and large scale industries. Majority of companies have signed an exclusive agreement with distributors to serve end users.
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