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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)'

According to the Research Institute of Organic Agriculture, 72.3 million hectares of agricultural land was maintained by organic agriculture globally in 2019. Organic farming is one of the fastest-growing agricultural practises worldwide. Synthetic fertiliser harms microorganisms and contaminates the soil. The use of organic farming is spreading quickly as a means of reducing soil degradation. In contrast to conventional agriculture, which uses agrochemicals, genetically modified organisms, and numerous synthetic chemicals as food additives, organic farming makes the most efficient use of regional resources to increase soil fertility. Farmers are further encouraged to use appropriate bio-based fertilisers to produce organic food by the increased demand for organic food.

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 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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Global Biofertilizers Market

Product ID: SQMIG15C2071