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The Global Biofertilizers Market Size is valued at 3.08 billion in 2023 and is predicted to reach 7.18 billion by the year 2031 at a 11.37% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Demand for biological fertilizers and product adoption rise in tandem with the explosive demand for organic products.
- Throughout the forecast period, the rapidly expanding global agriculture sector and growing concerns about food safety are anticipated to fuel the expansion of the biofertilizers market.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Biofertilizers cannot be kept in storage for an extended period of time due to their short shelf life and potential decline in effectiveness. Biofertilizers may eventually lose their efficacy if improperly stored. Distributors and producers may encounter supply chain difficulties due to the short shelf life of biofertilizers.
The term "biofertilizer" refers to a material that contains pathogenic microbes that, when added to soil, seedlings, or plant surfaces, colonize the rhizosphere or inside of the plant and encourage development by boosting the supply or availability of primary nutrients to the host plant. A few factors that may support the expansion of the biofertilizers market during the forecast period include the expanding array of government attempts to raise public awareness of the benefits of using biofertilizers, and the growing industrial effects of chemical fertilizers, rising usage of homesteads and private farms.
On the other hand, growing demand from underdeveloped countries may increase the number of chances and lead to the growth of the biofertilizers market. Monoculture agriculture is one of the agronomic practices developing the fastest worldwide. Farmers are encouraged to employ biological fertilizers conducive to organic food production by the rising market demand for biofertilizers and organic food.
Governments worldwide are promoting the use of chemical fertilizers due to worries about declining soil quality brought on by improper use of these fertilizers and potential health risks. Consumers are also getting more worried about food safety issues, higher residue levels in food, and environmental issues due to increasing health concerns. Because of this, major retail giants like Wal-Mart and Costco are actively expanding by diversifying their products.
Recent Developments:
- In September 2022.-In order to create sustainable crop solutions globally, Rizobacter Argentina SA merges Bioceres Crop Solutions with Martone Bio Innovations.
- In May 2021, Rizobacter Argentina SA introduced Microstar Bio, a unique, specialized fertilizer combining biological and fertilizers. The product aids with root development and efficient nutrient usage by incorporating bacillus strains into the micro granules.
Competitive Landscape:
Some of the biofertilizers market players are:
- Agrilife
- Agrinos
- American Vanguard Corporation (U.S.)
- ASB Grünland
- Aumgene Biosciences
- Bienvenido
- Bioceres S.A. (Argentina)
- Biomax Naturals
- Bioworks Inc. (U.S.)
- Hansen Holding A/S
- Criyagen
- Gujarat State Fertilizers & Chemical Ltd. (India)
- Helmut Aurenz Gmbh,
- International Panacea Limited
- IPL Biologicals Limited
- Jaipur Biofertilizers
- Kan Biosys
- Kiwa Bio-Tech
- Lallemand In
- LKB Biofertilizer
- Madras Fertilizers Limited
- Manidharma Biotech Pvt Ltd
- Mapleton Agri Biotec Pty Ltd
- National Fertilizers Limited (India)
- Novozymes A/S (Denmark)
- Nutramax Laboratories, Inc.
- Rashtriya Chemicals And Fertilizers Limited
- Rizobacter Argentina S.A.
- SEIPASA
- Some Phytopharma India Ltd
- Symborg
- Stanes And Company Limited
- Upl Limited
- Valagro
- Valent Biosciences
- Varsha Bioscience And Technology India Pvt Ltd
- Vegalab SA
Market Segmentation:
The biofertilizers market is segmented based on type, mode of application, crop type and form. Based on type, the market is segmented as nitrogen-fixing microbes, phosphate solubilizing and mobilizing microbes, potassium solubilizing and mobilizing microbes and other types (zinc, silica, and sulfur solubilizing biofertilizers). By mode of application, the biofertilizers market is segmented into nitrogen-fixing microbes, phosphate solubilizing and mobilizing microbes, potassium solubilizing and mobilizing microbes and other types (zinc, silica, and sulfur solubilizing biofertilizers). Based on crop type, the biofertilizers market is segmented as cereals & grains, pulses & oilseeds, fruits & vegetables and other crop types (turf & ornamentals, plantation crops, fiber crops, and hay & forage crops). Based on form, the biofertilizers market is segmented as liquid and carrier-based
Based On Type, The Nitrogen-Fixing Microbes' Segment Is A Major Contributor To The Biofertilizers Market
The nitrogen-fixing microbes' category will hold a major share of the global biofertilizers market in 2021. The risks associated with using chemical fertilizers, the increase in federal programs and growing public awareness of the need for sustainability in modern agriculture, the rapidly increasing popularity of sophisticated farming techniques like drip irrigation and sprinklers, and the escalating health concerns are all cited as reasons for this segment's significant market share. Moreover, nitrogen-fixing bacteria are a more cost-effective, environmentally friendly, and economically advantageous way to supply nitrogen to plants.
The Seed Treatment Segment Witnessed Growth At A Rapid Rate
The seed treatment personal care segment is projected to grow rapidly in the global biofertilizers market. Due to the numerous benefits of seed treatment in biofertilizers, including increased germination percentage and a decreased incidence of foot and root rot, this category holds a sizable market share. Moreover, it enhances the availability of phosphorus in the soil by aiding in its solubilization. The market for biofertilizers is being driven by the rising usage of these fertilizers in the seed treatment of oilseeds like peanut, rapeseed, and soybean, as well as cereals like rice, rye, maize, and maize., especially in countries such as the US, Germany, UK, China, and India.
The North American Biofertilizers Market Holds A Significant Revenue Share In The Region
The North American biofertilizers market is expected to register the highest market share in revenue soon. The supremacy can be attributed to the greater government involvement in local farming practices, which led to significant changes in agriculture practices across the US and Canada. A strict regulatory context and a rising demand for biofertilizer products have contributed to the biofertilizer market growth. In North America, the loss of farmland has been brought on by industrialization, mining, and urbanization. In addition, the Asia Pacific region is predicted to grow tremendously in the global biofertilizers market. The region to which this is credited is Africa and Asia-Pacific, where fertilizer usage is highest. Population growth, particularly in Asia, has increased market interest in food, which will result in increased fertilizer use.
Biofertilizers Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 3.08 Bn |
|
Revenue forecast in 2031 |
USD 7.18 Bn |
|
Growth rate CAGR |
CAGR of 11.37% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Type, Mode Of Application, Crop Type And Form |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Novozymes, GSFC Ltd, Bienvenido., Rashtriya Chemicals and Fertilizers Limited, T. STANES and COMPANY LIMITED, National Fertilizers Limited, MADRAS FERTILIZERS LIMITED, International Panacea Limited, LALLEMAND Inc., Kan bossy, Kiwi Bio-Tech, Symborg., Some Phytopharma India Ltd., Mapleton Agri Biotic Pty Ltd., ASB Greenland Helmut Ahrens GmbH. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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