Press release
India Biofertilizer Market 2024: Predicted to Achieve US$ 356.7 Million Revenue by 2032 - Research Report
The India biofertilizer market size reached US$ 127.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 356.7 Million by 2032, exhibiting a growth rate (CAGR) of 12.1% during 2024-2032.
A biofertilizer is an organic substance containing living microorganisms, typically bacteria, fungi, or archaea, that enhances soil fertility and plant nutrient uptake. These beneficial microorganisms form symbiotic relationships with plants, promoting nutrient availability by fixing atmospheric nitrogen, solubilizing phosphates, and enhancing mineral absorption. Unlike chemical fertilizers, biofertilizers foster sustainable and environmentally friendly agriculture by reducing the reliance on synthetic inputs. They contribute to soil health, improve crop yield, and play a crucial role in organic farming practices. Biofertilizers enhance nutrient content in the soil and contribute to the overall ecological balance by promoting natural processes in agricultural ecosystems.
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India Biofertilizer Market Trends:
The market in India is primarily driven by the increasing awareness of sustainable and eco-friendly agricultural practices. Farmers recognize the importance of reducing dependence on chemical fertilizers to enhance soil health and ensure long-term agricultural sustainability. Government initiatives promoting organic and sustainable agriculture further contribute to the market growth. Furthermore, rising environmental concerns and the need to mitigate the adverse effects of chemical fertilizers on soil and water quality drive the adoption of biofertilizers. These microbial formulations contribute to soil fertility by fixing nitrogen, solubilizing phosphates, and enhancing nutrient availability, fostering a healthier and more balanced agroecosystem.
Moreover, the government's emphasis on increasing crop productivity and improving farm income aligns with the benefits offered by biofertilizers. Incentives, subsidies, and educational programs encouraging farmers to adopt biofertilizers are crucial in market expansion. Additionally, advancements in biofertilizer research and technology, leading to the development of more efficient and versatile formulations, contribute to increased adoption. Besides, the growing organic farming sector, driven by consumer preferences for chemical-free produce, fuels the demand for biofertilizers.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/india-biofertilizer-market
Key Market Segmentation:
Breakup by Type:
• Nitrogen-Fixing Biofertilizers
• Phosphate-Fixing Biofertilizers
• Others
Breakup by Crop:
• Cereals and Grains
• Pulses and Oilseeds
• Fruits and Vegetables
• Others
Breakup by Microorganism:
• Cyanobacter
• Rhizobium
• Phosphate Solubilizing Bacteria
• Azotobacter
• Others
Breakup by Mode of Application:
• Seed Treatment
• Soil Treatment
• Others
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report.
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Key highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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