Press release
Biofertilizers Market Size, Share, Analysis, Trends and Strategies 2024-2032 | Lallemand Inc. (Canada), National Fertilizers Limited (India), BioWorks Inc. (U.S.)
Biofertilizers Market
Biofertilizers-also referred to as bioinoculants-are living microorganisms that improve plant nutrient uptake by colonizing the rhizosphere when introduced through soil or seed. Common microbes used include cyanobacteria, nitrogen-fixing bacteria, phosphate-solubilizing bacteria, and specific molds. These organisms accelerate soil microbial activity, making nutrients more accessible to plants. Beyond nutrient enhancement, biofertilizers boost crop yields, enrich soil fertility, and offer natural protection against pests and plant diseases. A key advantage is that repeated applications aren't always needed-after 3-4 years, initial inocula may suffice for continued microbial activity. This trait, combined with cost efficiency, makes biofertilizers an appealing substitute for synthetic fertilizers. Composed primarily of natural substances, these products are more affordable to produce and apply, reducing overall fertilization costs and offering a practical option for both farmers and home gardeners.
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➤ Key Market Participants:
• Lallemand Inc. (Canada)
• National Fertilizers Limited (India)
• IPL Biologicals (International Panaacea Limited) (India)
• Bioceres S.A. (Argentina)
• BioWorks Inc. (U.S.)
• SOM PHYTOPHARMA (INDIA) LIMITED (India)
• American Vanguard Corporation (U.S.)
• Gujarat State Fertilizers & Chemicals Ltd. (India)
• Symborg (Spain)
• Novozymes (Denmark)
➤ Segmentation:
Nitrogen-Fixing Segment to Lead Due to Improved Nitrogen Absorption in Crops
By type, the market is segmented into phosphate solubilizers and nitrogen-fixing agents. The nitrogen-fixing category dominates, driven by its ability to enhance soil nitrogen levels, particularly benefiting crops with high nutrient demands like rice, wheat, and oilseeds.
Rhizobium Segment to Prevail Due to Its Role in Nitrogen Supply
By microorganism, the categories include rhizobium, azotobacter, azospirillum, pseudomonas, bacillus, VAM, and others. Rhizobium leads the segment, mainly due to its effectiveness in fixing nitrogen, thereby boosting soil fertility and overall crop output while minimizing reliance on chemical fertilizers.
Seed Treatment Emerges as Top Application Due to Crop Safeguarding Capabilities
Based on application, the market is split into seed treatment and soil treatment. Seed treatment holds the largest share due to its extensive use in protecting seeds against microbial threats, ensuring crop productivity and health from the start.
Cereal Segment to Maintain Dominance Owing to Health-Focused Demand
The crop type segmentation includes cereals, pulses & oilseeds, fruits & vegetables, and others. Cereals lead the market, driven by growing consumer preference for organic grains. The application of organic fertilizers to cereals is expected to continue due to rising health consciousness and demand for sustainable food sources.
Regionally, the market is broken down into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
➤ Report Coverage:
The report offers a comprehensive overview of the biofertilizers market, analyzing it across microorganism type, application method, crop type, and geography. It provides detailed insights into competitive strategies, industry trends, and market dynamics.
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➤ Drivers and Restraints:
Horticultural and Cereal Crop Expansion to Fuel Market Growth
Using biofertilizers helps restore soil microbial balance, countering the degradation caused by overuse of chemical fertilizers and intensive farming.
According to the European Journal of Horticultural Science, field trials have shown that arbuscular mycorrhizal fungi (AMF) significantly improve both yields and nutrient profiles in horticultural crops. This supports biofertilizers as a dependable tool for improving crop quality and quantity.
On the downside, variations in soil composition and crop types impact the effectiveness of biofertilizers, necessitating localized research and limiting their broader adoption in certain areas.
➤ Regional Insights:
North America Leads the Market Due to Organic Agriculture Demand
North America dominates the global market, propelled by strong consumer interest in organic foods. In 2022, organic product sales in the U.S. surpassed USD 60 billion, based on World Trade Magazine data-evidence of the growing shift toward sustainable consumer choices.
In Europe, policy support encouraging the reduction of chemical fertilizer use in favor of bio-based alternatives is expected to strengthen regional market growth.
➤ Competitive Landscape:
Key Players Expand Production to Widen Market Reach
Industry leaders are investing in expanding their production facilities to cater to rising global demand. These efforts are helping accelerate market development and improve product availability across regions.
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https://www.fortunebusinessinsights.com/enquiry/enquiry/biofertilizers-market-100413
➤ Key Industry Development:
In April 2023, Kakani Govardhan Reddy, Agriculture Minister of Andhra Pradesh, advocated for higher yields through the use of quality biofertilizers, reinforcing the state's push toward natural farming methods.
➤ Read Related News:
Feed Additives Market: https://www.fortunebusinessinsights.com/feed-additives-market-104345
Agricultural Micronutrients Market: https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Flower Seeds Market: https://www.fortunebusinessinsights.com/flower-seed-market-103207
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