Global Biofertilizers Market- WishTree Insight

Global Biofertilizers Market by Type (Phosphate Solubilizing, Nitrogen Fixing, and Others), Application (Soil Treatment, Seed Treatment, and Others), Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, and Others), and Regions, (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Biofertilizers market size was valued at USD 3.2 billion in 2022 and is expected to surpass USD 9.3 billion by 2032, expanding at a CAGR of 11.30 % during the forecast period, 2022–2032. The market's growth is attributed to the growing global agricultural industry with rising concerns for food safety.

INTRODUCTION

Biofertilizers are natural fertilizers that are made up of living microorganisms such as bacteria, fungi, and algae. These microorganisms help to improve soil fertility and plant growth by fixing atmospheric nitrogen, solubilizing soil nutrients, and enhancing nutrient uptake by plants.

Biofertilizers are a sustainable alternative to synthetic fertilizers, which can have harmful environmental impacts. They are non-toxic, non-polluting, and are produced using natural resources. Biofertilizers are also cost-effective, as they can be produced locally and do not require large-scale manufacturing facilities.

There are different types of Biofertilizers, including nitrogen-fixing Biofertilizers, phosphorus-solubilizing Biofertilizers, and plant growth-promoting Biofertilizers. Each type of biofertilizer has specific benefits for plant growth and soil health.

The use of Biofertilizers can have a range of benefits, such as improving soil health, increasing crop yield, and reducing the use of synthetic fertilizers. Biofertilizers can also help to reduce greenhouse gas emissions by reducing the use of fossil fuel-based fertilizers.

Overall, Biofertilizers are an eco-friendly and sustainable alternative to synthetic fertilizers. They have the potential to revolutionize the agricultural industry by improving soil fertility and plant growth while also reducing environmental impacts.

Market Trends, Drivers, Restraints, and Opportunities

• Proliferating demand for sustainable crop production is expected to drive the market.
• Increasing emphasis on organic agriculture is driving the market.
• Rising governmental support is anticipated to boost market growth.
• The high production cost of biological fertilizers is restraining the market growth.

Scope of the Report

Market Segment Insights

The nitrogen-fixing segment is projected to register a considerable CAGR

Based on type, the biofertilizers market is divided into phosphate solubilizing, nitrogen-fixing, and others. The nitrogen-fixing segment is expected to expand rapidly during the forecast period due to the ability to generate higher yields. However, the phosphate solubilizing segment is anticipated to hold a key share of the market in the coming years owing to their potential to improve crop quality and yield.

The seed treatment segment is expected to expand at a rapid pace

Based on application, the biofertilizers market is divided into soil treatment, seed treatment, and others. The seed treatment segment is expected to expand rapidly during the forecast period owing to its agronomics benefits.

The cereals & grains segment is projected to register a considerable CAGR

On the basis of crop type, the biofertilizers market is segregated into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. The cereals & grains segment is projected to register a considerable CAGR during the forecast period due to the high demand for organic cereals. On the other hand, the oilseeds & pulses segment is anticipated to account for a major market share during the forecast period due to their wide application in cooking and other edible products is boosting the oilseeds market.

North America dominates the market share

In terms of regions, the biofertilizers market is classified as APAC, Europe, North America, and LAMEA. The market of North America is expected to constitute a key share of the market during the projected period owing to the growing number of organic farms in prominent economies. However, the market in Europe is anticipated to expand at a rapid pace during the forecast period due to the imposition of stringent regulations by the government on the use of chemical fertilizers.

Competitive Landscape

Key players competing in the Biofertilizers market are BioWorks Inc. (U.S); IPL Biologicals (India); Novozymes A/S (Denmark); American Vanguard Corporation (U.S); Lallemand.Inc (Canada); Symborg (Spain).

FAQs

How much is the market worth?

The Biofertilizers market size was valued at USD 3.2 billion in 2022 and is expected to surpass USD 9.3 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 11.30%.

What are the key drivers of the market?

The market's growth is attributed to the growing global agricultural industry with rising concerns for food safety.

What segments are covered in the Biofertilizers report?

The segments covered in the report are Type (Phosphate Solubilizing, Nitrogen Fixing, and Others), Application (Soil Treatment, Seed Treatment, and Others), Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, and Others).

Mention which region is expected to hold the highest share of the Biofertilizers market.

The North American region is expected to hold the highest share of the Biofertilizers market.

Mention the key players in the market.

Bio Works Inc. (U.S); IPL Biologicals (India); Novozymes A/S (Denmark); American Vanguard Corporation (U.S); Lallemand Inc. (Canada); Symborg (Spain).