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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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