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Global Biofertilizers Market 2023 Future Outlook, Global Trends, Recent Development And Forecast To 2032 | Major Players Are Novozymes A/S, CBF China Bio-Fertilizer AG, SOM Phytopharma (India) Limited (AgriLife), Mapleton Agri Biotec Private Ltd., Biomax
Biofertilizers Market
The Business Research Company's Biofertilizers Global Market Report 2023 identifies increasing concern for food safety as the major driver for the Biofertilizers Market's growth in the forecast period. The right food handling practices used throughout food preparation, processing, storage, and distribution of the items in the food business are referred to as food safety. All aspects of the food supply chain are concerned about the integrity of food safety. From agriculture to final product packaging and delivery to the consumer's table, the food manufacturing life cycle is a source of concern. The rising concern for food safety calls for food production with maximum output which in turn demands a need for biofertilizers to promote higher growth of food plants.
The global biofertilizers market size will grow from $1.88 billion in 2022 to $2.14 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biofertilizers market size is expected to grow to $3.51 billion in 2027 at a CAGR of 13.2%.
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Major competitors in the biofertilizers market are Novozymes A/S, CBF China Bio-Fertilizer AG, SOM Phytopharma (India) Limited (AgriLife), Mapleton Agri Biotec Private Ltd., Biomax, Symborg SL, National Fertilizers Ltd., Rizobacter Argentina SA, UPL Limited, T. Stanes & Company Limited, Jaipur Bio Fertilizers, Agrinos Inc., LKB BioFertilizer Sdn Bhd and Varsha Bioscience and Technology India Pvt Ltd.
A key trend in the Biofertilizers Market includes Product innovation. The key players operating in the biofertilizers market are developing innovative products for crops to grow stronger and show greater tolerance to stress. The innovation in biofertilizers enables the players to establish their product portfolio, earn additional revenue, capture more market share, and hold a competitive edge in the market. For instance, in June 2021, Symborg, a Spanish company involved in the research and development of bio-fertilizers used in advanced agricultural processes, introduced Qlimax, an innovative soil energizer that serves as a prebiotic. Its use multiplies the concentration of microbial flora in the soil, stimulating its development and enhancing its positive activity in the agronomic management of soil and crops.
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The Biofertilizers Market is segmented -
By Product: Nitrogen Fixing, Phosphate Solubilizing, Other Products
By Crop Type: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Other Crop Types
By Form: Liquid, Carrier-based
By Application: Seed Treatment, Soil Treatment
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Biofertilizers Market.
The Business Research Company's "Global Biofertilizers Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biofertilizers Market Include:
1. Executive Summary
2. Biofertilizers Market Characteristics
3. Biofertilizers Market Trends And Strategies
4. Biofertilizers Market - Macro Economic Scenario
5. Biofertilizers Market Size And Growth
……
26. Africa Biofertilizers Market
27. Biofertilizers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biofertilizers Market
29. Biofertilizers Market Future Outlook and Potential Analysis
30. Appendix
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