Global Biofertilizers Market

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


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

Biofertilizers Market Insights

Global Biofertilizers Market size was valued at USD 2.67 Billion in 2022 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). 

A material known as "biofertilizer" is made up of living microorganisms that give plants more nutrients, hence promoting their growth. It enhances soil nutrients or makes them physiologically accessible for plants when applied to seed, soil, or plants. Since natural farming necessitates the use of biofertilizers, the global market is seeing steady growth. Nitrogen-fixing biofertilizers are extensively used by farmers to cultivate a variety of crops in great demand like oilseeds, grains and wheat. These biofertilizers can help in enhancing healthy growth of plants by adjusting soil nitrogen level. 

The rise in naturally occurring levels of phosphorus and nitrogen that plants can absorb more readily than with traditional fertilisers, along with the restoration of soil fertility, are factors that propel the global market for biofertilizers. Additionally, biofertilizers promote the quality and texture of the soil, which aids in improving plant growth in harsh environments like droughts. Additionally, biofertilizers are affordable and simple substitutes for petrochemical products that are generated. The primary obstacle to the market for biofertilizers, however, is that they must be utilised before their expiration date and must be stored with extra caution. The absence of appropriate training in organic farming and farmers' limited understanding of biofertilizers are two more significant factors impeding the market's growth. 

US Biofertilizers Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Biofertilizers Market size was valued at USD 2.67 Billion in 2022 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 competitive environment of the worldwide biofertilizer market is defined by the existence of major international firms that prioritise product development, innovation, and joint ventures. Advanced biofertilizer solutions from companies like BASF SE, Bayer AG, Rizobacter, Novozymes, and others are driving the market and improving agricultural yield and sustainability. To satisfy the increasing need, especially in developing countries where organic agriculture is getting more attention, these firms are expanding their international reach and sponsoring studies.  'Novozymes (Denmark) ', 'Rizobacter (Argentina) ', 'BASF SE (Germany) ', 'Bayer AG (Germany) ', 'Symborg (Spain) ', 'Lallemand Inc. (Canada) ', 'Biomax Naturals (India) ', 'T. Stanes & Company Limited (India) ', 'Kan Biosys (India) ', 'Kiwa Bio-Tech Products Group Corporation (China) ', 'Mapleton Agri Biotech (Canada) ', 'Agri Life (India) ', 'Camson Bio Technologies Ltd. (India) ', 'Gujarat State Fertilizers & Chemicals Ltd. (India) ', 'Madras Fertilizers Limited (India) '

Amidst parched globes, there has been a marked movement towards the practice of sustainable agriculture practice that can be attributed to the growing worldwide concern about the environment. Biofertilizers are gaining traction in the agricultural sector since they serve as eco-friendly alternatives to chemical fertilizers; enable crop production increase, decrease pollution and enhance soil fertility. 

Embracing Eco-Friendly Solutions and Organic Farming: The biofertilizer industry saw several trends and changes throughout the years, but one of the main themes we can see today is the rise of eco-friendly and sustainable agricultural methods. The beneficial microorganisms found in biofertilizers, which boost the availability of nutrients to plants, have gained acceptance as a viable substitute for conventional chemical fertilizers. The ever-increasing recognition and acceptance of organic farming is one more such noteworthy trend in biofertilizer business. 

With its sophisticated agricultural infrastructure, robust legislative support for sustainable farming techniques, and growing consciousness of environmental implications, North America leads the global biofertilizers market. With organic farming gaining ground and environmentally friendly approaches for agricultural inputs on demand, biofertilizer usage in the region is increasing. Furthermore, government incentives, strong research and development, and technological breakthroughs are further propelling market growth. Currently the North America region remains the largest player in biofertilizer market owing to its emphasis on increasing crop productivity while reducing dependence on chemical fertilizers which aligns with sustainable agricultural practices embraced by this region. 

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Global Biofertilizers Market

Report ID: SQMIG15C2071

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