What is the global market size of Biofertilizers Market?

Biofertilizers Market size was valued at USD 2.67 billion in 2021 and is poised to grow from USD 2.99 billion in 2022 to USD 6.52 billion by 2030, growing at a CAGR of 12.3% in the forecast period (2023-2030).

Global Biofertilizers Market Size, Share, Growth Analysis, By Product(Nitrogen Fixing, Phosphate Solubilizing), By Microorganism(Rhizobium, Azotobacter), By Form(Liquid, Carrier-Based), By Application(Seed Treatment, Soil Treatment), By Crop Type(Cereals, Pulses & Oilseeds) - Industry Forecast 2024-2031

Report ID: SQMIG15C2071 | Region: Global | Published Date: February, 2024
Pages: 256 | Tables: 146 | Figures: 78

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Biofertilizers Market size was valued at USD 2.67 billion in 2019 and is poised to grow from USD 2.99 billion in 2023 to USD 6.52 billion by 2031, growing at a CAGR of 12.3% in the forecast period (2024-2031).

The biofertilizers market is fragmented, with the presence of several international and domestic players. Emerging players in the biofertilizer industry have integrated manufacturing and distribution while focusing on product innovation. The leading corporations have created processes and products to implement the product differentiation strategy. These businesses also collaborate with farmers to create personalized products. 'Novozymes A/S (Denmark)', 'Vegalab SA (Switzerland)', 'UPL Limited (India)', 'Chr. Hansen Holding A/S (Denmark)', 'Kiwa Bio-Tech (China)', 'Lallemand Inc. (US)', 'Rizobacter Argentina S.A. (Argentina)', 'T. Stanes & Company Limited (India)', 'IPL Biologicals Limited (India)', 'AgriLife (India)', 'Manidharma Biotech Pvt Ltd (India)', 'Biomax Naturals (India)', 'Jaipur Bio Fertilizers (India)', 'Valent Bio Sciences (US)', 'Aumgene Biosciences (India)', 'Agrinos (US)', 'Criyagen (India)', 'LKB Bio Fertilizer (Malaysia)', 'Varsha Bioscience and Technology India Pvt Ltd. (India)', 'Valagro (Italy)'

Increasing emphasis on organic agriculture to drive the global biofertilizers market growth

Due to the increased demand for fertilisers that are consistent with sustainable and organic farming and agricultural methods, the biofertilizers market is expected to continue to rise in the years to come. These fertilisers are an affordable and environmentally benign solution for agricultural production; hence their use is expanding globally. Additional factors influencing the growth of the worldwide biofertilizers market include an increase in nutrient uptake by plants, an improvement in soil fertility, and a minimal danger to human health connected with bio-based fertilisers.

North America is expected to dominate the global biofertilizers market over the forecast period. Due to the rising number of organic farms in major economies like the United States, Canada, and Mexico, the market in North America is developing significantly. Organic food products are the preferred option for those looking to prepare clean, healthy meals at home.

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