Product ID: SQMIG15C2071
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
Global Biofertilizers Market Insights
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).
Rising product uptake and demand for biological fertilizers result from increased demand for organic products. Higher product recognition and acceptance among farmers in both developed and developing nations is favorably influencing the market. The increased soil and water contamination caused by the overuse of chemical fertilizers is propelling the development of organic and sustainable fertilizers. Furthermore, agricultural input producers' active participation in ramping up their production of agricultural biologicals, particularly biofertilizers, is expected to drive global biofertilizers market market growth.
The organic food and beverage industry is one of the fastest expanding industries in the world. This growth is fueled by several government incentives offered globally and a growing customer preference for foods cultivated naturally rather than synthetically. Following the discovery of the dangers posed by synthetic fertilizers and crop care chemicals, significant agricultural reforms were implemented throughout the world. While human harm includes loss of food nutrients and long-term health deterioration due to excessive chemical intake, environmental hazards include soil contamination due to the use of synthetic chemicals for an extended period of time, contamination of underground water reserves, soil fertility loss, and more. These elements have caused a consistent preference for bio-based fertilizer solutions throughout the world.
US Biofertilizers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Biofertilizers Market Report Snapshots
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