Biofertilizers in Focus: A Comprehensive Review of Market Trends and Innovations

According to a new market research report titled, 'Biofertilizers Market Size, Share, Forecast, & Trends Analysis by Microorganism Type (Nitrogen-fixing {Azospirillum}, Phosphate Solubilizing Microbes), Crop Type (Cereals & Grains {Maize, Wheat}), Mode of Application, Formulation - Global Forecast to 2031,' the biofertilizers market is expected to reach $4.03 billion by 2031, at a CAGR of 11.7% from 2024 to 2031.

The growth of the biofertilizers market is primarily fueled by the rise in organic farming, increasing demand for organic food, heightened concerns about environmental safety, growing government initiatives to encourage biofertilizer use, and rising investments from major industry players. Nevertheless, the strong demand for synthetic fertilizers and the high production costs associated with biofertilizers somewhat limit market growth.

Additionally, the increasing use of fertilizers in emerging economies and advancements in biofertilizer technology are anticipated to create substantial growth opportunities for stakeholders in this market. However, challenges such as lengthy product registration and approval processes, as well as the low shelf life and high sensitivity to temperature fluctuations, are significant factors impacting the growth of this market.

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Key Players:
The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past five years (2021-2024). The global biofertilizers market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the global biofertilizers market are National Fertilizers Limited (India), IPL Biologicals Limited (India), BioWorks, Inc. (U.S.), Symborg Corporate, SL (Spain), Novonesis Group (Denmark), UPL Limited (India), American Vanguard Corporation (U.S.), Seipasa S.A. (Spain), Rizobacter S.A. (Argentina), Vegalab SA (Switzerland), Lallemand Inc. (U.S.), AgriLife (India) Private Limited (India), Mapleton Agri Biotec Pt Ltd (Australia), and Koppert B.V.(Netherlands).

The global biofertilizers market is mainly segmented by microorganism type (nitrogen-fixing microbes { rhizobia bacteria, azospirillum, and other nitrogen-fixing microbes}, phosphate solubilizing & mobilizing microbes {pseudomonas, bacillus, and other phosphate solubilizing & mobilizing microbes}, potassium solubilizing & mobilizing microbes, and other microorganism types) crop type (cereals & grains { maize/corn, wheat, rice, and other cereals & grains}, oilseeds & pulses, fruits & vegetables, and other crop types), mode of application (fertigation, foliar application, and seed treatment), formulation (dry biofertilizers and liquid biofertilizers), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This study also evaluates industry competitors and analyzes the regional and country-level markets.

Key Findings in the Biofertilizers Market Study:

Among the types studied in this report, in 2024, the liquid segment is expected to account for the largest share of the biofertilizers market. It is also projected to register the highest CAGR of 11.9% during the forecast period. The largest market share and fastest growth of this segment are due to several factors, such as the need to mitigate the risks associated with chemical fertilizers, a rise in government initiatives, increasing awareness of sustainability in modern agriculture, the adoption of advanced farming techniques like drip irrigation and sprinklers, and escalating health concerns. Furthermore, nitrogen-fixing bacteria offer a more cost-effective, eco-friendly, and profitable method for supplying nitrogen to plants, further driving their growing acceptance.

Among the crop types studied in this report, the oilseeds & pulses segment is expected to record the highest CAGR of 13.0% during the forecast period due to increased area under organic oilseed and pulse farming, rising demand for organic oilseeds and pulses, and growing interest in plant-based diets.

Among all the modes of application studied in this report, the foliar spray segment is estimated to register the highest CAGR of 12.7% during the forecast period; due to the uniform distribution of nutrients and reduced waste, this method is considered one of the most cost-effective and efficient strategies for applying biofertilizers. It minimizes the quantity of biofertilizers required, enhancing overall effectiveness and affordability.

Among the formulations studied in this report, the liquid biofertilizers segment is projected to register the highest CAGR during the forecast period, owing to the benefits of liquid biofertilizers, which include high efficiency and absorbability, ease of usage, cost-effectiveness, and consistent application.

Among the geographies studied in this report, Asia-Pacific is poised to register the highest CAGR of 12.7% during the forecast period. This growth is driven by factors including extensive areas dedicated to organic production, substantial population and income growth, advancements in mechanization and irrigation, and the presence of numerous organic producers. Additionally, supportive government policies and initiatives by organizations aimed at promoting and expanding the organic sector contribute to the expansion of the biofertilizers market in this region.

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Scope of the Report:
Biofertilizers Market Assessment-by Microorganism Type
• Nitrogen-fixing Microbes
o Rhizobia Bacteria
o Azospirillum
o Other Nitrogen-fixing Microbes
• Phosphate Solubilizing & Mobilizing Microbes
o Pseudomonas
o Bacillus
o Other Phosphate Solubilizing & Mobilizing Microbes
• Potassium Solubilizing & Mobilizing Microbes
• Other Microorganism Types
Biofertilizers Market Assessment-by Crop Type
• Cereals & Grains
o Maize/Corn
o Wheat
o Rice
o Other Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Other Crop Types
Biofertilizers Market Assessment-by Mode of Application
• Fertigation
• Foliar Application
• Seed Treatment
• Other Modes of Application
Biofertilizers Market Assessment-by Formulation
• Dry Biofertilizers
• Liquid Biofertilizers
Biofertilizers Market Assessment-by Geography
• North America
o U.S.
o Canada
• Europe
o France
o Spain
o Italy
o Germany
o U.K.
 Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America (RoLATAM)
• Middle East & Africa

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Europe Biofertilizers Market : https://www.meticulousresearch.com/product/europe-biofertilizers-market-5712

South East Asia Biofertilizers Market : https://www.meticulousresearch.com/product/south-east-asia-biofertilizer-market-5665

Latin America Biofertilizers Market :https://www.meticulousresearch.com/product/latin-america-biofertilizers-market-5590

Agriculture Equipment Market: https://www.meticulousresearch.com/product/agriculture-equipment-market-5374

Latin America Agriculture Equipment Market : https://www.meticulousresearch.com/product/latin-america-agriculture-equipment-market-5582

South East Asia Agriculture Equipment Market: https://www.meticulousresearch.com/product/south-east-asia-agriculture-equipment-market-5690

Asia-Pacific Agriculture Irrigation Equipment Market: https://www.meticulousresearch.com/product/asia-pacific-agriculture-irrigation-equipment-market-5651

Asia-Pacific Agriculture Equipment Market: https://www.meticulousresearch.com/product/asia-pacific-agriculture-equipment-market-5652

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This release was published on openPR.