Biofertilizers Market Size, Share & Analysis Report, 2023-2032
The global biofertilizers market size was exhibited at USD 3.19 billion in 2022 and is projected to hit around USD 9.29 billion by 2032, growing at a CAGR of 11.28% during the forecast period 2023 to 2032.
Key Pointers:
Through natural processes such as nitrogen fixation; phosphate solubilization; and the production of compounds that stimulate growth, biofertilizers provide nutrients to plants. They boost soil organic matter and aid in restoring the soil's natural nutrition cycle. By using biofertilizers, growers can increase the sustainability and health of the soil and cultivate healthy crops. Only bacteria and other biological elements that are not damaging to the environment are present in biofertilizers. As a result, they contribute to reducing pollution brought on by agricultural activities, particularly soil pollution.
Use of biofertilizers have been proven to lower the cost of agricultural inputs while increasing the overall crop productivity in the long run. Biofertilizers also helps in increasing resistance to various plant diseases and abiotic stresses. These factors are driving the global biofertilizers market during the review period.
Biofertilizers Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 3.19 Billion |
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Market Size by 2032 |
USD 9.29 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 11.28% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Type, By Application, and By Crop Type |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
CBF China Biofertilizer, Novozymes A/S, Agrilife, Symborg SL, Lallemand Inc, Gujrat State Fertilizers & Co Ltd, IPL Biological, Bioceres SA, Americal Vanguard Corporation and Others. |
Market Dynamics
Drivers: Adoption of precision farming and protected agriculture
The goal of precision farming is to produce profitable agricultural output by identifying and analysing spatial and temporal variability using cutting-edge technologies. To boost crop output and yield, agricultural biologicals are employed in precision farming and protected agriculture. The market for biofertilizers is growing as a result of the widespread use of agricultural biologicals in protected agriculture, which promotes the use of biofertilizers. Farmers can track the application of liquid biofertilizer by using fertilisation plans that use GPS-guided geographic information system (GIS) software. Therefore, it is anticipated that the market for biofertilizers will be driven by the rise in land under precision and protected agriculture.
Restraints: Environmental and technological constraints
Biofertilizer products have a limited shelf-life and run a high risk of contamination. When exposed to high temperatures, the microorganisms utilised as biofertilizers become nonviable. As a result, it's crucial to keep them in a dry, cool environment. The survival of microorganisms during storage is the main issue with agricultural inoculation technology; other difficulties revolve around a number of other factors, including culture medium, physiological state of the microorganisms at harvest, dehydration process, rate of drying, temperature maintenance during storage, and water activity of inoculants. The shelf life of microorganisms is impacted by these difficulties.
Opportunities: New target markets: Asia Pacific and Africa
The Asia Pacific and Africa regions are one of the largest consumers of fertilizers. Population development, particularly in Asia, has led to an increase in food demand, which will ultimately result in an increase in fertilizer usage. Governments in these regions are placing a strong emphasis on the use of environmentally benign fertilizers, like biofertilizers and organic manure, to mitigate the negative impacts of chemical fertilisers. Government agencies have aided in raising farmer understanding of the benefits of using biofertilizers. Africa has experienced active conventional farming over the past few decades, which has utilized synthetic fertilizers to supply the soil with vital plant nutrients. However, the quality of the soil and the vital nutrients have been compromised by the over application of these fertilizers. The region now needs biofertilizers as a result of this aspect.
Challenges: Intense competition and product rivalry due to similar products
A significant problem in the sector is the availability of counterfeit biofertilizers, which harms farmers' perceptions of the finished product and restrains market expansion. Due to their exact chemical qualities and comparable physical traits, counterfeit products have a very cheap production cost and have shown to be impossible for farmers to distinguish from genuine biofertilizers. Poor microbial load, contaminated items, or inappropriate strains are utilised to simulate a product. Due to a highly fragmented market with unorganised participants, counterfeit products are sold in Asian nations.
Some of the prominent players in the Biofertilizers Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Biofertilizers market.
By Type
By Application
By Crop Type
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers