Biofertilizers Market Size By Product (Nitrogen-fixing, Phosphate-solubilizing, Potash-mobilizing, Others), By Crop (Cereals & Grains, Pulses & Oil, Seeds Fruits & Vegetables), By Form (Dry, Liquid), By Application & Forecast, 2024 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBiofertilizers Market Size
Biofertilizers Market was valued at around USD 2.31 billion in 2023 and is anticipated to register a CAGR of over 8.5% between 2024 and 2032. The demand for biofertilizers is driven by the increasing global emphasis on sustainable and organic farming practices, which seek to reduce reliance on chemical fertilizers.
To get key market trends
Rising awareness of the environmental benefits of biofertilizers, such as improved soil health and reduced pollution, also contributes to their growing adoption. Government support through subsidies and favorable policies further boosts the market by encouraging farmers to use eco-friendly inputs. Advances in biotechnology have enhanced the efficacy and availability of biofertilizers, making them more attractive to farmers. Additionally, the growing need to meet food security challenges with sustainable solutions fuels the demand for biofertilizers. Thus, the market is expected to attain a market value of over USD 4.77 billion by 2032.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Biofertilizers Market Size in 2023 | USD 2.31 Billion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 8.5% |
| 2024 – 2032 Value Projection | USD 4.77 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 320 |
| Tables, Charts & Figures | 229 |
| Segments covered | Product, Crop, Form, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Limited shelf life and storage challenges are significant pitfalls for the biofertilizers market. Biofertilizers typically contain live microorganisms that can degrade over time or under improper storage conditions, reducing their efficacy. This requires strict storage protocols and frequent quality checks, increasing operational costs for manufacturers and distributors. Additionally, farmers must handle and apply these products carefully to ensure their effectiveness, which can be cumbersome and limit their adoption. These factors contribute to higher costs and logistical complexities, potentially deterring some users from choosing biofertilizers.
Biofertilizers Market Trends
The biofertilizers industry is experiencing a surge in interest driven by the growing demand for organic farming and sustainable agricultural practices. There is an increasing focus on improving soil health and fertility, leading to the development of innovative biofertilizer products tailored for various crops and soil conditions. The market is seeing greater integration of biofertilizers with precision agriculture technologies, enhancing their application efficiency. Additionally, regulatory support and government incentives are promoting the use of eco-friendly inputs. The rise in consumer awareness about environmental impacts and food quality is also accelerating market growth.
Biofertilizers Market Analysis
Learn more about the key segments shaping this market
If you want to feed plants, you need to give them essential nutrients like nitrogen, phosphorus, and potassium. Biofertilizers are like tiny living helpers that can make these nutrients more available to plants. When it comes to these biofertilizers, the nitrogen-fixing ones are the stars of the show. They grab nitrogen from the air and turn it into a form that plants can easily gobble up. This is a big deal because nitrogen is a key ingredient for making plants grow big and strong. In 2023, the nitrogen-fixing biofertilizer market was worth a whopping $1.71 billion, and it's predicted to grow even more to $3.53 billion by 2032. Why are they so popular? Because they help farmers reduce their reliance on synthetic nitrogen fertilizers, which can be harmful to the environment. Plus, nitrogen-fixing biofertilizers are like magic for crops that grow in soil that's low in nitrogen. They help boost crop yields and make the soil healthier, which is why farmers love them.
Learn more about the key segments shaping this market
When it comes to biofertilizers, the market falls into three main areasseed treatment, soil treatment, and others. Out of these, seed treatment is the reigning champion, holding a staggering 84% of the market share in 2023. And it's not stopping there – it's only expected to grow even stronger by 2032. Why is seed treatment so popular? It's all thanks to its clever way of getting beneficial microorganisms right to the seeds. This gives plants a strong start in life, helping them grow and develop like champs. Seed treatment boosts seed germination, root growth, and nutrient absorption, which means bigger and better crops. Plus, it's a cost-effective way to use biofertilizers, as you need less of them compared to soil treatment. And let's not forget that it protects those young seedlings from nasty diseases and pests lurking in the soil. So, it's no wonder that seed treatment is a favorite among farmers and is used on a wide range of crops. It's the clear leader in the biofertilizer market, and it's only going to get bigger and better.
Imagine a huge market filled with different types of crops like grains, fruits, and vegetables. The biggest part of this market is taken up by cereals and grains like wheat, rice, and corn. These crops are like the stars of the show because they have a massive share of the market and are projected to keep growing. Biofertilizers are like little helpers for these crops. They make the soil healthier and provide all the nutrients the plants need, which leads to bigger and better harvests. Farmers love using biofertilizers because they help them grow these crops on a large scale while also being good for the environment. Unlike chemical fertilizers, biofertilizers don't harm the soil or the plants, which is becoming increasingly important in today's farming world. Plus, cereals and grains are grown in different climates and regions around the world, which is why they continue to be the most popular crops in this market.
When it comes to biofertilizers, they come in two main formsdry and liquid. In the year 2023, the solid form ruled the market with a massive share of 1.62 billion dollars, and it's predicted to grow even bigger, reaching an impressive 3.29 billion dollars by 2032. There are a few reasons why dry biofertilizers are the rock stars of the market. For one, they can hang around for a longer time than their liquid counterparts, making them easier to keep on hand and transport. They're also less likely to get icky or lose their power, which means farmers can count on them to do their job. Dry biofertilizers are also a breeze to use, especially when you're working with a lot of land. You can shake them on seeds, mix them into the soil, or spread them around like confetti. They're cost-effective too, so you won't break the bank trying to make your crops happy. No matter what the weather's like, dry biofertilizers are up to the challenge. They can handle extreme heat, icy cold, and everything in between. That's why they're the go-to for farmers all over the world.
Looking for region specific data?
In 2023, North America was the king of the biofertilizer world. It made a whopping $910.1 million from selling these natural plant feeders. And get thisby 2032, it's predicted to reach a mind-blowing $1.83 billion! Why is North America so good at this? Well, they're all about farming with smarts. They're big on keeping their farms healthy and green, and they have laws that support organic farming. They're also proud of their farming infrastructure that makes it easy for farmers to use biofertilizers. Plus, farmers in North America are getting wise to the benefits of using biofertilizers instead of those chemical ones. It's better for the environment, and it's better for their crops. The government even steps in to encourage people to use biofertilizers, so it's a win-win for everyone involved. Oh, and let's not forget the awesome companies and scientists in North America who are always working on new and better biofertilizer technology. That's what keeps them ahead of the game and makes North America the undisputed champ in the biofertilizer market.
The U.S. is the biofertilizer boss of North America! Thanks to its huge farming industry, which is all about going green and sustainable, biofertilizers are booming there. The government is also doing its part by giving money and support to farmers who use them. Plus, there are tons of smart folks at research schools and universities working on making even better biofertilizers. All of this, plus the fact that farmers in the U.S. love these natural plant helpers, makes it the number one spot for biofertilizers in all of North America.
Biofertilizers Market Share
In the world of biofertilizers, there's a vibrant group of companies vying for attention. Agri Life, Ajay Bio-Tech (India) Ltd., and other heavyweights like Cairochem, Chema Industries, and Gizatec are all in the running. These companies are on a mission to grow their offerings and spread their reach through partnerships, mergers, and investing in the latest science. For example, Agri Life and Ajay Bio-Tech (India) Ltd. are pouring cash into developing cutting-edge biofertilizer formulas to meet the soaring demand for greener farming. But it's not just about having a fancy product; these companies are also working hard to make their biofertilizers last longer and work better. They're tackling the tricky challenges of keeping biofertilizers stable and effective, so they can deliver the benefits farmers need.
Many fertilizer companies, like Gujarat State Fertilizers & Chemicals Limited, Jay Enterprises, and Kimitec Group, are branching out to different parts of the world to find new growth opportunities. They're also making their products specifically for different crops and soils, which helps them compete better in the global market. Other companies, such as Lallemand Inc. and Madras Fertilizers Limited, are using their strong networks and relationships to keep their place in the market. And to make things even more exciting, there are lots of new and innovative biofertilizer products coming out all the time. This is happening because more and more research is being done to find ways to improve farming and make it more sustainable.
Biofertilizers Market Companies
Major players operating in the biofertilizers industry include
- Agri Life
- Ajay Bio-Tech (India) Ltd.
- Cairochem
- Chema Industries
- Gizatec
- Gujarat State Fertilizers & Chemicals Limited
- Jay Enterprises
- Kimitec Group
- Lallemand Inc.
- Madras Fertilizers Limited
Biofertilizers Industry News
- In May 2022, Syngenta launched Envita, a novel nitrogen-fixing biofertilizer tailored for a range of crops, including cereals, grains, pulses, oilseeds, and fruits and vegetables.
- In May 2024, Fresh Del Monte announced partnership with Vellsam Materias Bioactive to produce biofertilizers from fruit residues.
The biofertilizers market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments
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Market, By Product
- Nitrogen-fixing
- Phosphate-solubilizing
- Potash-mobilizing
- Others
Market, By Crop
- Cereals & grains
- Pulses & oil seeds
- Fruits & vegetables
- Others
Market, By Form
- Dry
- Liquid
Market, By Application
- Seed treatment
- Soil treatment
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Ukraine
- Kazakhstan
- Turkey
- Bulgaria
- Greece
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- South Africa
- Egypt
- Tunisia
- Rest of MEA
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