Biofertilizers Market to Grow with a CAGR of 10.27% through 2028
Increasing organic crop area and increasing demand for
organic commodities across the world is expected to drive the Global Biofertilizers
Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Biofertilizers
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Biofertilizers Market stood at USD 2.52 Billion in 2022 and is
anticipated to grow with a CAGR of 10.27% in the forecast period, 2024-2028. The global
biofertilizers market is experiencing substantial growth, driven by several
factors. the increasing global food demand necessitates improved agricultural
productivity, where biofertilizers play a crucial role. They enhance crop yield
by making nutrients readily available to plants, thereby driving market growth.
The growing concern over environmental health and soil
fertility has led to the increased adoption of organic farming methods, which
significantly utilize biofertilizers. The harmful environmental impacts
associated with chemical fertilizers are causing a shift towards eco-friendly
farming practices, further propelling the demand for biofertilizers. Supportive
government policies and initiatives encouraging the use of organic and
sustainable farming practices have also contributed to the market's expansion.
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Biofertilizers Market.”
The global biofertilizers market presents a broad and
promising scope that extends across various sectors, including agriculture,
horticulture, and the food industry. Recognized for their
environmentally-friendly nature and their effectiveness in enhancing soil
fertility, biofertilizers are experiencing an escalating demand on a global
scale. This surge in demand can be attributed to their ability to provide
sustainable farming solutions while addressing the mounting concerns over the
environmental impacts associated with the use of chemical fertilizers. Biofertilizers
have gained significant traction due to their organic and biological
composition, making them a highly favorable choice for farmers who are seeking
eco-friendly alternatives. The market's potential is further bolstered by
ongoing innovations in biotechnological research, which continue to enhance the
efficacy and applicability of biofertilizers. Additionally, supportive
government policies that promote the use of organic and biological fertilizers
contribute to the continuous growth of the market.
Regionally, the biofertilizers market is flourishing
in areas with strong agricultural sectors, such as North America, Europe, and
Asia Pacific. These regions prioritize sustainable farming practices and have
witnessed a growing adoption of biofertilizers as a means to achieve
agricultural productivity while preserving ecological integrity. Moreover, the
rising global population and the corresponding increase in food demand are
expected to further sustain the growth of the biofertilizers market in the years
to come.
As the world grapples with the pressing challenges of
ensuring food security and environmental sustainability, biofertilizers have
emerged as a highly promising solution. These innovative fertilizers offer a
delicate balance between maximizing agricultural productivity and preserving
ecological integrity. Biofertilizers possess remarkable capabilities to enhance
soil fertility, promoting healthier and more productive crops. By harnessing
the power of beneficial microorganisms and organic matter, they contribute to
the natural nutrient cycle, facilitating sustainable farming practices.
Moreover, their ability to reduce dependence on chemical fertilizers helps
mitigate the environmental impact associated with conventional farming methods.
In the pursuit of a more sustainable and food-secure future, the integration of
biofertilizers into agricultural systems plays a crucial role. By promoting
soil health, reducing chemical inputs, and fostering eco-friendly farming
practices, they pave the way for a more resilient and environmentally conscious
approach to food production.
The Global Biofertilizers Market is segmented into
type, form, crop type, application, microbe type, regional distribution, and
company.
Based on application, the seed treatment application
dominated the market with a significant revenue share in 2022. This was
primarily due to the numerous benefits of induced nutritional values in the
seeds. With the aggressive consumption of synthetic fertilizers and the widespread
use of crop care chemicals such as pesticides and insecticides in recent years,
soil quality has witnessed a substantial deterioration across major agrarian
economies. Recognizing the environmental hazards caused by the excessive use of
chemical products in farming, several governments have implemented regulations
on the agricultural sector, both in developing and developed economies. This
shift towards more sustainable practices is projected to drive a positive
growth trend for biofertilizers in various seed and soil applications
worldwide. As a result, biofertilizers are expected to play a crucial role in
improving soil health and ensuring long-term agricultural sustainability.
Based on region, North America holds a leading
position in the global biofertilizers market. This can be attributed to several
factors. The region is home to highly developed and technologically advanced
agricultural practices. These advances extend to the adoption and integration
of biofertilizers as a sustainable farming solution. Additionally, the region
has a progressive and supportive regulatory environment that promotes the use
of green and sustainable agricultural inputs. This has led to widespread use of
biofertilizers, particularly in the United States and Canada. The increased
awareness about the detrimental effects of chemical fertilizers on soil health
and the environment has fueled demand for biofertilizers. Furthermore, the
region's focus on organic farming and high-quality crop production has further
spurred the growth of the biofertilizers market. The presence of key market
players who are investing in research and development of new and effective
biofertilizer products also contributes significantly to North America's
leading position in the market.
Major companies operating in Global Biofertilizers Market
are:
- Novozymes A/S
- CBF China Bio-Fertilizer AG
- Agri Life(India) Private Limited
- Mapleton Agri Biotech Private Ltd
- Biomaxnaturals
- Rizobacter Argentina S.A.
- Symborg S.L.
- National Fertilizers Ltd
- Growing Power Hairy Hill
- Antibiotice S.A.
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“The future of the Global Biofertilizers Market looks
promising as it is expected to grow exponentially in the coming years. This
growth is propelled by factors such as rising environmental concerns,
increasing demand for organic food products, and stringent government
regulations against the use of synthetic fertilizers. Moreover, with the
increasing global population and the consequent need for high agricultural
yield, there is a growing shift towards sustainable farming practices.
Biofertilizers play a significant role in this, as they not only improve the
soil fertility and crop productivity but also reduce the environmental harm
caused by chemical fertilizers. The advancement in biotechnological research is
set to introduce innovative products in the market, further fueling the demand
for biofertilizers. The trend of using microbe-based biofertilizers is also
expected to gain traction, providing a natural solution for crop health
enhancement. The Global Biofertilizers Market is anticipated to experience significant
growth, driven by the need for sustainable agriculture, environmental
consciousness, and advancements in biotechnology.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Biofertilizers Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented By Type (Nitrogen-Fixing Bio Fertilizers, Phosphate-Solubilizing
Bio Fertilizers, Potash-Mobilizing Bio Fertilizers, and Others), By Form
(Liquid, Carrier-based), By Crop Type (Cereals & Grains, Pulses &
Oilseeds, Fruits & Vegetables, and Others), By Application (Seed treatment,
Soil treatment, Others), By Microbe Type (Rhizobium, Azotobacter, Azospirillum,
Cyanobacteria, Phosphate-Solubilizing Bacteria, and Others), By Region and Competition”, has evaluated
the future growth potential of Global Biofertilizers Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Biofertilizers Market.
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