The biofertilizer market is expected to be valued at USD 2.8 billion in 2022 and USD 5.2 billion by 2028, with a CAGR of 10.9% over the forecast period. Biofertilizers are commonly used in organic farming practices. Biofertilizers have been found to be helpful in terms of crop protection and soil fertility. They increase water retention capacity, boost soil fertility, and improve soil structure and texture. They are primarily used to increase crop yield, fix atmospheric nitrogen, and transform inorganic compounds into organic compounds.
The nitrogen-fixing biofertilizers segment is expected to gain the largest market share in 2022.
Nitrogen-fixing biofertilizers are majorly used across the globe. These biofertilizers help the plant bodies to fix the atmospheric nitrogen. These are mostly used in leguminous crops such as peas, soybean, cowpea, etc. Microorganism such as rhizobium bacteria is highly beneficial in legume crops. Rhizobium converts dinitrogen gas into ammonia, which is then converted into organic substances such as amino acids for the better growth of crops. Apart from this, the growing adoption of advanced agricultural techniques such as drip irrigation and sprinklers is also one of the major factors which is driving the growth of the segment.
The fruits and vegetables segment is projected to account for the largest market share in 2022
The primary factors anticipated to promote the use of biofertilizers in the major producing and exporting regions for fruits and vegetables include increased fruit output, high-quality fruits, decreased input costs, and increased soil organic content. The increase in the production of fruits such as strawberries, apples, grapes, pomegranates, oranges, capsicum, bell pepper, tomato, chilli, etc. is further propelling the market.
The soil treatment segment is forecasted to occupy the largest market share in 2022.
In order to boost plant output and satisfy the rising demand for food production, the use of biofertilizers by soil treatment method has become an essential component of agricultural practise. The soil treatment method assists in raising crop output reduces the use of chemical fertilisers, improves soil fertility, produces better outcomes, and enhances soil quality by 20 to 30%. To improve the microbiome, certain bacteria, fungi, and other microorganisms are added to ploughed soil in the soil treatment method. These species include algae and protozoa.
North American market is projected to gain the largest market share during the forecast period.
North America is the largest market for biofertilizers. This is due to the higher production of fruits and vegetables in the region. In the North American region wheat, barley, corn maize, tomatoes, grapes, pome fruits and stone fruits are the majorly cultivated crops. These crops are also exported to different parts of the world in large quantities. This has led to an increase in the utilization of biofertilizers. The demand for organically grown crops has also fueled the growth of the biofertilizers market in the region.
The Break-up of Primaries:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C level - 35%, Director level - 25%, Others - 40%
- By Geography: North America- 40%, Asia Pacific - 30%, Europe -20%, South America- 5% and RoW 5%
Research Coverage:
This research report categorizes the biofertilizers market by type (nitrogen-fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers, potassium solubilizing & mobilizing biofertilizers and other types), by crop type (cereals & grains, pulses & oilseeds, fruits & vegetables, other crop types), by mode of application (soil treatment, seed treatment), by form (liquid and carrier-based), and region (North America, Europe, Asia Pacific, South America, and RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the biofertilizers market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions; key strategies; partnerships, agreements; new product launches, mergers and acquisitions, and recent developments associated with the biofertilizers market. Competitive analysis of upcoming startups in the biofertilizers market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall biofertilizers market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (growth in organic food industry, initiatives by government agencies and increase in awareness pertaining to need for sustainability in modern agriculture, hazards of using chemical fertilizers and increase in environmental concerns, increase in usage of biofertilizers in ranch and private farms, adoption of precision farming and protected agriculture, provision of range of phytohormones, macronutrients, and micronutrients), restraints (environmental and technological constraints, poor infrastructure and high initial investment, absence of well-constructed marketing routes and surrounding infrastructure), opportunities (new target markets: asia pacific & africa, increase in the production and yield of crops, increase in the utilization of liquid biofertilizers and fertigation method), and challenges (lack of awareness and low adoption rate of biofertilizers, unfavourable regulatory standards, supply of counterfeit and less-effective products) influencing the growth of the biofertilizers market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the biofertilizers market
- Market Development: Comprehensive information about lucrative markets - the report analyses the biofertilizers market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the biofertilizers market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like Novozymes (Denmark), UPL (India), Chr. Hansen Holding A/S (Denmark), Syngenta (Switzerland), T.Stanes and Company Limited (India), and Lallemand Inc. (Canada) among others in the biofertilizers market strategies.
Table of Contents
Companies Mentioned
- Agrilife
- Agrinos
- Aumgene Biosciences
- Biomax Naturals
- Chr. Hansen Holding A/S
- Criyagen
- Ipl Biologicals Limited
- Jaipur Bio Fertilizers
- Kan Biosys
- Kiwa Bio-Tech Product Group Cooperation
- Lallemand Inc.
- Lkb Biofertilizer
- Manidharma Biotech Pvt Ltd.
- Mapleton Agri Biotech Pt Ltd.
- Novozymes
- Nutramax Laboratories, Inc.
- Rizobacter Argentina SA
- Seipasa
- Symborg
- Syngenta
- T. Stanes and Company Limited
- Upl
- Valent Biosciences
- Varsha Bioscience and Technology India Pvt Ltd.
- Vegalab SA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 295 |
| Published | April 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2.8 Billion |
| Forecasted Market Value ( USD | $ 5.2 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
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