Biofertilizers Market to Generate USD 4.5 billion Revenue by 2026

The global biofertilizers market size was valued at USD 2.6 billion in 2021 and is expected to reach USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as adoption of precision farming and protected agriculture along with increase in the environmental concerns are some of the factors driving the growth of the biofertilizers market.

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The nitrogen-fixing microbes segment of the biofertilizers market is projected to have highest CAGR during the forecast period, by type

By type, the nitrogen-fixing microbes segment is projected to have highest CAGR during the forecast period in the market. Biofertilizers are viable cells, containing effective strains of specific nitrogen-fixing bacteria, which can be either used in carrier-based powder forms or liquid formulations in farming. Nitrogen is used by the plant to synthesize vitamins, amino acids, nucleic acids, and other nitrogenous compounds. Nitrogen-fixing biofertilizers include Rhizobium, Actinobacteria, Azotobacter, and Azospirillum; they help in transforming nitrogen into organic compounds. Few strains of Azotobacter have the potential to colonize the roots of crops such as sugarcane, coffee, cotton, wheat, rice, and vegetables. Biofertilizers are preparations containing active strains of specific microorganisms, such as bacteria, algae, and fungi, which are known to be the best symbiotic nitrogen fixers.

The market for liquid segment is projected to account for the largest share during the forecast period

By form, the liquid segment accounted for the highest share in the biofertilizers market. Liquid biofertilizer technology is considered as an alternative solution to the conventional form of carrier-based biofertilizers. Liquid biofertilizers are specially formulated and contain not only the desired microorganisms and their nutrients, but also substances that can support the stability of the storage conditions of resting spores and cysts for longer shelf-life. Liquid fertilizers have better tolerance limits for adverse conditions. The quality control protocols for liquid biofertilizers are easy and expeditious compared to carrier-based biofertilizers. Liquid fertilizers have significantly higher survival rates after storing for a longer time as compared to other formulations and treatments. They do not get contaminated and have greater immunity against native soil microbial population.

Seed treatment by mode of application drives the market during the forecast period

By mode of application, the seed treatment segment is projected to have the highest CAGR during the forecast period. In seed treatment, biofertilizers such as Rhizobium, Azotobacter, and Azospirillum. are applied as coatings on seeds. This is the most common method of applying biofertilizers, as it is easy and generally effective under most conditions. This helps to encapsulate small amounts of functional microorganisms on it, which enables the plant to provide nitrogen for the roots, to uptake the nutrients. Seed treatment is extensively carried out for legume seeds for the purpose of nitrogen fixation.

North America is the fastest-growing market during the forecast period in the global market

The North American market is projected to dominate the market due to the rising demand for organic products, increasing acceptance of biofertilizers among rural farmers, and high adoption of advanced irrigation systems such as drip & sprinkler irrigation for fertigation. A stringent regulatory environment in addition to a growing preference for the usage of biofertilizer products has led to the favorable growth of the market. Industrialization, mining, and urbanization have led to a decrease in arable land in North America.

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Key players in this market include Novozymes A/S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A/S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (US), Rizobacter Argentina S.A. (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (US), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur Bio Fertilizers (India), Valent BioSciences (US), Aumgene Biosciences (India), Agrinos (US), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India), and Valagro (Italy).

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