Press release
Global Biofertilizers Market to Reach $5.14 Billion by 2029, Growing at 15.4% CAGR
Biofertilizers
The anticipated growth of the biofertilizers market during the forecast period is linked to the rising emphasis on organic farming. Sustainable agricultural techniques promoting soil health, biodiversity and environmental preservation are popularized by organic farming. Biofertilizers, made from naturally existing microorganisms, are vital in boosting soil fertility and nutrient availability, excluding the need for synthetic chemicals or genetically modified organisms. For instance, the Organic Eprints, an internationally recognized open-source archive for projects and papers about organic food and farming, reported in 2023 that organic farming was conducted in 191 countries. Furthermore, at least 3.7 million farmers organically manage over 76 million hectares of agricultural land. As such, the growing emphasis on organic farming will fuel the biofertilizer market's future growth.
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What growth opportunities are expected to drive the biofertilizers market's CAGR through 2034?
In recent times, there has been a rapid expansion in the size of the biofertilizers market. The market is projected to escalate from a worth of $2.52 billion in 2024 to $2.89 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.9%. The remarkable growth in the past period has been largely influenced by robust economic development in emerging markets, a soaring demand for organic food, increased consumer demand for agricultural goods, and the embrace of precision farming practices.
The market size of biofertilizers is predicted to experience swift expansion in the forthcoming years, reaching a valuation of $5.14 billion in 2029 with a compound annual growth rate of 15.4%. The boosted growth in the projected period can be credited to factors like a heightened emphasis on organic farming, escalating government interventions, rising costs of synthetic fertilizers, and increasing population. Noteworthy trends in the projected period encompass the emergence of environmentally-friendly biofertilizers, breakthroughs in product innovations, advancements in technology, and strategic alliances and partnerships.
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What are the emerging trends shaping the future of the biofertilizers market?
Key manufacturers in the biofertilizers industry are shifting their focus towards creating cutting-edge products like soil-revitalizing biofertilizers to improve soil health and advocate for sustainable agriculture. These innovative soil-revitalizing biofertilizers are designed to improve soil quality and endorse sustainable farming practices by enhancing microbial diversity and nutrient content. Taking an example from August 2024, Rovensa Next, a European biosolutions business based in Spain, introduced Wiibio, a biofertilizer that revitalizes soil, aimed at improving soil microbiota and promoting plant growth. Formulated using the biostimulant strain of Bacillus subtilis, Wiibio seeks to encourage soil health by augmenting microbial diversity and nutrient accessibility, contributing to the overarching goal of sustainable farming. Wiibio also enhances crop yield and its quality by augmenting soil liveliness and fostering plants' natural growth cycles. It is applicable to a wide range of crops, primarily during the early to mid vegetative stages and following harvest in perennial crops.
Which growth-oriented segments of the biofertilizers market are leading the industry's development?
The biofertilizers market covered in this report is segmented -
1) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
2) By Form: Liquid, Carrier-Based
3) By Application: Seed Treatment, Soil Treatment, Other Applications
Subsegments:
1) By Cereals And Grains: Rice, Wheat, Corn (Maize), Barley, Sorghum
2) By Oilseeds And Pulses: Soybeans, Sunflower, Canola, Peas, Lentils
3) By Fruits And Vegetables: Tomatoes, Apples, Citrus Fruits, Leafy Greens, Berries
4) By Other Crop Types: Roots And Tubers, Herbs And Spices, Medicinal Plants, Forage Crops
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What regions are leading the charge in the biofertilizers market?
Asia-Pacific was the largest region in the biofertilizers market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the biofertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the biofertilizers market?
Major companies operating in the biofertilizers market include 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, 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
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What Is Covered In The Biofertilizers Global Market Report?
•Market Size Forecast: Examine the biofertilizers market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the biofertilizers market for a structured understanding.
•Key Players Overview: Analyze major players in the biofertilizers market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biofertilizers market.
•Segment Contributions: Evaluate how different segments drive overall growth in the biofertilizers market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biofertilizers market.
•Industry Challenges: Identify potential risks and obstacles affecting the biofertilizers market.
•Competitive Landscape: Review strategic developments in the biofertilizers market, including expansions, agreements, and new product launches.
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