Biofertilizers Market Forecast to Grow at 12.3% CAGR from 2024 to 2031 | SkyQuest Technology

Biofertilizers Market Size, Share, Growth Analysis, By Product(Nitrogen Fixing, Phosphate Solubilizing), By Microorganism(Rhizobium, Azotobacter, Azospirillum, Pseudomonas), By Form(Liquid, Carrier-Based), By Application(Seed Treatment, Soil Treatment), By Crop Type(Cereals, Pulses & Oilseeds, Fruits & Vegetables, Others), By Region - Industry Forecast 2024-2031
Biofertilizers Market [https://www.skyquestt.com/report/biofertilizers-market] size was valued at USD 2.67 billion in 2022 and is poised to grow from USD 2.99 billion in 2023 to USD 6.52 billion by 2031, growing at a CAGR of 12.3% in the forecast period (2024-2031).

The widespread use of microorganisms in biofertilizers attests to the power of sustainable agricultural practices and food security. Growing food safety concerns are expected to drive the biofertilizers market. The EU "Common Agricultural Policy" encourages products that incorporate natural inputs into organic farming and allocates up to 30.0% of the budget as direct green compensation to farmers for sustainable agricultural practices.

The global agricultural industry is rapidly evolving and experiencing dramatic changes in positions across the global economy. With the involvement of digital agriculture and precision farming that is prevalent in all countries, growing economic sectors are adapting to technological advances to maintain ecosystems. Technological change invests size occurs, which in turn affects the total return on investment.

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North America dominated the Rhizobium sub-segment with a market share of 52.7%. and successive crops and dominated in 2022. Rhizobium has a symbiotic relationship with succession crops and some varieties of maize hence the Rhizobium subsection was dominated by succession crops. North America also has a large series of crop farms. The Rhizobium sub-segment of the market is expected to register a CAGR of 10.5% during the forecast period.

Top Players Company Profiles

* 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)
* AgriLife (India)
* Manidharma Biotech Pvt Ltd (India)
* Biomax Naturals (India)
* Jaipur Bio Fertilizers (India)
* Valent Bio Sciences (US)
* Aumgene Biosciences (India)
* Agrinos (US)
* Criyagen (India)
* LKB Bio Fertilizer (Malaysia)
* Varsha Bioscience and Technology India Pvt Ltd. (India)
* Valagro (Italy)

Professional Vertical-enhanced Version of Competitive Landscape in Biofertilizers Market

The biofertilizers market is a dynamic and competitive industry with a mix of global giants and local players, all looking to capitalize on the competitive environment of the growing demand for sustainable agricultural economies.

Novozymes: The company's extensive R&D capabilities and global presence position it as a strong market leader, catering to a wide range of crop varieties and farming conditions. A leading player in the biofertilizer market, Novozymes is focused on applying its expertise in enzyme technology for efficient biofertilizers.

BASF SE: Another major investor, BASF SE, has invested heavily in the biofertilizer industry, with an emphasis on innovation and sustainability. The company's strategy includes developing integrated crop solutions that combine biofertilizers with other agricultural inputs, increasing overall agricultural yields.

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Segments covered

Type

Nitrogen-fixing biofertilizers, Phosphate solubilizing & mobilizing biofertilizers, Other (zinc, silica, and sulphur solubilizing biofertilizers)

Microorganism

Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM, Others

Form

Liquid, Carrier-Based

Mode of Application

Seed Treatment, Soil Treatment, Others (Foliar Treatment, Root Dipping, And Seedling Root Treatment)

Crop Type

Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, Others (Turf and Ornamentals, Plantation Crops, Fiber Crops, and Silage & Forage Crops)

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Market Trends and Future Outlook

Regulatory support: Incentives for farmers to adopt sustainable agricultural practices and restrictions on farmers encourage farmers to switch to biofertilizers, creating new opportunities for market players. The growth of the market is driven by government policies and policies that support the use of biofertilizers. Focus on Sustainability: Companies are increasingly aligning their production strategies with global sustainability goals, ensuring that their biofertilizers meet the highest environmental standards of safety and efficacy. Increased emphasis on sustainable and organic farming is a major factor shaping the biofertilizers market.

In conclusion, the competitive scenario of the biofertilizers market is characterized by a mix of established global leaders, active local players and innovative start-ups, all of which contribute to the market growth. There are key factors that offer promising prospects for a sustainable agricultural future, which will continue to push the market forward.

Future of Biofertilizers Market

The biofertilizers market is poised for great increase, pushed by way of increasing cognizance of sustainable agricultural practices and the want to growth soil fertility without destructive the environment. The innovations in microbial natural fertilizers preserve to move into this market with favorable authorities' regulations and growing customer demand for organic products.

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