Forensic Research is a leading industry company based in the US and India that performs research and consulting services in leading industries worldwide.
The report they just released looks at the size, share, trends, growth, analysis, research, etc. on the biofertilizer market, a market on the rise worldwide.
Biofertilizers: a bet for the future around the world
During the last twenty-five years, agriculture has been progressively moving towards new paradigms of sustainability and ecological efficiency.
The technological and scientific advances obtained in recent years have revolutionized practically all phases of the production and distribution chain of agricultural products.
A new range of products known as “biostimulants” and “biofertilizers” is leading the evolution of biotechnological applications aimed at improving the efficiency of crops.
According to the data recently provided by Forencis Research, the biofertilizers market will reach a value of 4.4 billion dollars in 2027, with a growth of 9.7% over 2019.
The data on which they are supported to make these forecasts are: on the one hand, the growing world demand for organic food; on the other, the new government regulations that increasingly limit the use of agrochemical products while supporting, promoting, and regulating all kinds of initiatives that benefit organic and sustainable agriculture.
They also cite the government of Thailand, where they already have an ambitious program that promotes new organic rice plantations, a staple food in that country.
The Indian government, for its part, has implemented in 2018 Paramparagat Krishi Vikash Yojana a set of measures that promote and facilitate the transition towards organic and sustainable agriculture. This program focuses its actions on three main axes:
the “green revolution”,
the first hybrid seeds and
the introduction of the biotech sector
The union of these three points has managed to make this sector the new backbone of the population and the economy.
The EU market, also on the rise
The COVID-19 crisis has demonstrated to the entire world its vulnerability as voices grow to call for a new sustainable economic and food system that responds to the current needs and demands of society.
The challenge of feeding a growing population taking into account their preferences and lifestyles, taking advantage of available sources of raw materials, and being respectful of the environment is more necessary today than ever.
The use of a new range of organic and sustainable products at the beginning of the agri-food chain contributes to responding to this great challenge.
These are biostimulants, biofertilizers, or biological fortifiers, new organic products of proven efficacy, which are gradually displacing agrochemical products from the market.
We recently had the opportunity to learn about the details of the European Union initiative, “From Farm to Fork”, a set of objectives with an ecological profile that clearly benefits the development and growth of this new type of agro-biotechnological inputs.
With this strategy, the EU seeks to promote the transition to a sustainable food system in which food safety is protected, reducing the environmental footprint, protecting the health of citizens, and also guaranteeing the livelihoods of economic agents.
It establishes specific objectives as a starting point, such as reducing the use of pesticides by 50%, reducing the use of chemical fertilizers by at least 20%, reducing the sales of antimicrobials used in livestock and aquaculture by 50%, and reaching 25% of agricultural land dedicated to organic farming.
There is no doubt that this set of measures will be discussed and discussed from now on between the member countries and their sectoral representatives to reach the necessary agreements.
But the important thing is to highlight that the way forward has already been laid out and that this path clearly benefits organic alternatives such as those produced by Ficosterra.
Therefore, the necessary steps are being taken at all levels to develop responsible and sustainable practices, addressing changes in production systems, replacing current products with those that allow adaptation to these new strategies.
However, and in our opinion, various awareness-raising actions are still necessary to make known both the agricultural sector and the rest of the participants in the value chain the advantages and benefits of the use of these new biotechnological products compared to traditional chemicals.
Ficosterra’s biotechnological proposal, in full harmony with the new policies of the European Union
Ficosterra manufactures fertilizers, biostimulants, and biofertilizers with active ingredients from the sea to optimize agricultural yields.
The raison d’être of our business project emerged three years ago to solve five major challenges in world agriculture:
Today, there is no doubt that the products we manufacture contribute to solving these great challenges: we are doing it at the national level, and we are about to embark on the international path, where the business opportunities, as we have seen, are great.
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