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Biofertilizers Market Report 2024-2033 | Size, Share, Trends And Insights
Biofertilizers Market
As per the report, the biofertilizers market size has grown rapidly in recent years. It will grow from $2.2 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The biofertilizers market size is expected to see rapid growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%.
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Growing Embrace Of Organic Agriculture Boosts Demand For Biofertilizers
The increasing focus on organic agriculture is expected to propel the growth of the biofertilizers market during the forecast period. Organic agriculture promotes sustainable farming practices that prioritize soil health, biodiversity, and environmental conservation. Biofertilizers, which are derived from naturally occurring microorganisms, play a crucial role in enhancing soil fertility and nutrient availability without the use of synthetic chemicals or genetically modified organisms. For instance, in 2023, according to the Organic Eprints, an international open-access archive for organic food and farming projects and papers, organic agriculture is practiced in 191 countries, and more than 76 million hectares of agricultural land are managed organically by at least 3.7 million farmers. Thus, the increasing focus on organic agriculture will propel the market going forward.
Innovative Biofertilizers Transform Agricultural Practices For Sustainable Growth
Product innovation is a key trend gaining popularity in the biofertilizers market. 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. Furthermore, in May 2021, Rizobacter, an Argentine producer of microbiological products intended to provide innovative solutions for sustainable agriculture, launched Microstar BIO, a new specialty fertilizer line that combines biologicals with chemical fertilizer. A variety of several Bacillus strains are used in this innovative technology's biological component. These integrated bacteria can solubilize minerals and drive root growth, improving nutrient usage efficiency by boosting availability and soil exploration.
The biofertilizers market covered in this report is segmented -
By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
By Form: Liquid, Carrier-Based
By Application: Seed Treatment, Soil Treatment, Other Applications
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Major companies operating in the biofertilizers market report are UPL Limited, National Fertilizers Limited, Lallemand Inc, Novozymes A/S, Chr. Hansen Holding A/S, Gujarat State Fertilizers & Chemicals Ltd, T.Stanes& Company Limited, IPL Biologicals Limited, Bioceres Crop Solutions, FMC Corp, Biolchim SpA, Genliduo Bio-tech Corporation Ltd, Kiwa Bio-Tech, Shandong Sukahan Bio-Technology Co. Ltd, Atlántica Agrícola, PT Pupuk Kalimantan Timur, Ajay Farm-Chem Pvt. Ltd, Ajay Bio-Tech (India) Ltd, Bio Vision corporation, Guano, CF Fertilizers Ltd, Yara Ltd, Toopi organics, Biofa AG, Symborg, Biopartner sp z.o.o, AGROUNIK d.o.o, EuroChem Group AG, Agrocare Canada, Agrinos, Anuvia, BioFert Manufacturing Inc, Kiwa Bio-Tech Products Group Corporation, Kula Bio Inc, Novozymes Latin America Ltda, Rizobacter Argentina S.A, Indogulf Bio AG, Nurture Growth Bio Inc, SABIC Agri-Nutrients Company, Green Muscle, Greenbelt Fertilizers Limited, Golden Fertilizer Company Limited, ETG Inputs Holdco Limited
Contents of the report:
1. Executive Summary
2. Biofertilizers Market Report Structure
3. Biofertilizers Market Trends And Strategies
4. Biofertilizers Market - Macro Economic Scenario
5. Biofertilizers Market Size And Growth
…..
27. Biofertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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