Biofertilizers Market By Type (Nitrogen Fixing, Phosphate Solubilizing, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Application (Seed Treatment, Soil Treatment, Others), Global Analysis to 2023

Biofertilizers Market Valuation – 2024-2031

According to the new report titled " Biofertilizers Market By Type (Nitrogen Fixing, Phosphate Solubilizing, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Application (Seed Treatment, Soil Treatment, Others), Global Analysis to 2023"

 The valuation of the Biofertilizers market was $2.37 Billion in 2023 and is projected to reach $6.89 Billion by 2032, at a CAGR of 12.53% from 2021 to 2032.

The Biofertilizers Market was valued at $2.37 Billion by 2023 and expected to grow at CAGR of 12.53% over forecast period.  Biofertilizers are substances containing living microorganisms that colonize the rhizosphere or the interior of plant tissues, promoting plant growth and improving soil fertility. These microorganisms fix atmospheric nitrogen, solubilize phosphorus, and produce growth-promoting substances, enhancing nutrient uptake and plant health. Food and beverage companies are increasingly focused on sustainability throughout their supply chains, including sourcing practices for raw materials. Supporting farmers who use biofertilizers aligns with sustainability goals by reducing reliance on synthetic fertilizers, minimizing environmental impact, and promoting soil health.

 Food and beverage companies may encourage or incentivize the use of biofertilizers among their suppliers to enhance sustainability credentials. As consumer awareness of environmental and health issues grows, there is increasing interest in the production methods and sustainability practices of food and beverage companies. Companies that prioritize sustainable agriculture practices, including the use of biofertilizers, may gain a competitive advantage by appealing to environmentally conscious consumers. While biofertilizers themselves are not directly used in food and beverage production, their demand is closely linked to broader trends in sustainable agriculture and consumer preferences for organic, nutrient-rich, and environmentally friendly products. As such, the adoption of biofertilizers can have significant implications for the food and beverage industry, influencing ingredient sourcing practices, supply chain sustainability efforts, and consumer perceptions of product quality and environmental responsibility.

Nitrogen Fixing held the largest share in the Biofertilizers market

By Type (Nitrogen Fixing, Phosphate Solubilizing, Others) where Nitrogen Fixing plays a crucial role in the Biofertilizers market. Nitrogen fixing is a crucial biological process in which certain microorganisms convert atmospheric nitrogen (N2) into ammonia (NH3) or other nitrogen compounds usable by plants. This process is essential for maintaining soil fertility and facilitating plant growth. With growing concerns about environmental degradation and the sustainability of conventional agricultural practices, there is a rising demand for sustainable alternatives. Nitrogen-fixing biofertilizers offer a natural and eco-friendly solution for enhancing soil fertility and reducing reliance on synthetic fertilizers.

The increasing demand for organic food products has led to a parallel increase in the demand for organic farming inputs, including biofertilizers. Nitrogen-fixing biofertilizers are commonly used in organic farming systems to meet the nitrogen needs of crops while adhering to organic certification standards. Food and beverage companies are increasingly implementing sustainability initiatives throughout their supply chains, including efforts to promote sustainable agriculture. Supporting farmers who use biofertilizers aligns with these sustainability goals by reducing the environmental impact of agricultural production and promoting soil health.

North America headed the Biofertilizers market in 2023

Biofertilizers, including nitrogen-fixing strains, are commonly used in organic farming practices to meet the nutrient needs of crops without relying on synthetic fertilizers. As the demand for organic food products continues to grow in North America, driven by consumer preferences for healthier and environmentally sustainable options, the use of biofertilizers in organic agriculture increases. Organic food ingredients sourced from farms using biofertilizers may find their way into food and beverage products marketed as organic. Food and beverage companies are increasingly sourcing ingredients from suppliers that prioritize sustainable farming practices, including the use of biofertilizers. While biofertilizers themselves may not directly impact food and beverage production processes, their adoption by ingredient suppliers influences the quality and sustainability of raw materials used in food and beverage manufacturing. While the direct demand for biofertilizers in the food and beverage industry across North America may not be as significant as in agriculture, their adoption in sustainable farming practices indirectly influences ingredient sourcing, supply chain sustainability, and consumer preferences for eco-friendly products. As consumer awareness of sustainability issues continues to grow, the demand for ingredients grown with the help of biofertilizers is expected to increase, further influencing the food and beverage industry in North America.

Key market players operating in the market that are profiled in the report are

 CBF China Biofertilizer, Novozymes A/S, Agrilife, Symborg SL, Lallemand Inc, Gujrat State Fertilizers & Co Ltd., IPL Biological, Bioceres SA, Americal Vanguard Corporation etc.

Report Scope

 KEYPLAYER

• Novozymes A/S
• National Fertilizers Limited
• Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
• Rizobacter Argentina S.A.
• Lallemand Inc.
• Camson Bio Technologies Limited
• Biomax
• Symborg
• Nutramax Laboratories, Inc.
• Mapleton Agri Biotech Pvt. Ltd.

  Latest Developments

Biofertilizers Market, By Category

Product

• Nitrogen Fixing
• Phosphate Solubilizers

Microorganism

• Rhizobium
• Azotobacter
• Azospirillum
• Pseudomonas
• Bacillus
• VAM (Vesicular-Arbuscular Mycorrhiza)

Application

• Seed treatment
• Soil treatment

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support