USD 2.67 billion
Biofertilizers Market Size, Share, Growth Analysis, By Type(Nitrogen-Fixing Biofertilizers, Phosphate Solubilizing & Mobilizing Biofertilizers, Potassium Solubilizing & Mobilizing Biofertilizers and Other Types), By Mode of Application(Soil treatment, Seed Treatment and Other Modes of Application), By Crop Type(Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables and Other Crop Types), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15C2071 |
Region:
Global |
Published Date: July, 2024
Pages:
256
|Tables:
146
|Figures:
78
Biofertilizers Market Insights
Global Biofertilizers Market size was valued at USD 2.67 Billion in 2022 poised to grow from USD 2.99 Billion in 2023 to USD 6.52 Billion by 2031, growing at a CAGR of 12.3% in the forecast period (2024-2031).
A material known as "biofertilizer" is made up of living microorganisms that give plants more nutrients, hence promoting their growth. It enhances soil nutrients or makes them physiologically accessible for plants when applied to seed, soil, or plants. Since natural farming necessitates the use of biofertilizers, the global market is seeing steady growth. Nitrogen-fixing biofertilizers are extensively used by farmers to cultivate a variety of crops in great demand like oilseeds, grains and wheat. These biofertilizers can help in enhancing healthy growth of plants by adjusting soil nitrogen level.
The rise in naturally occurring levels of phosphorus and nitrogen that plants can absorb more readily than with traditional fertilisers, along with the restoration of soil fertility, are factors that propel the global market for biofertilizers. Additionally, biofertilizers promote the quality and texture of the soil, which aids in improving plant growth in harsh environments like droughts. Additionally, biofertilizers are affordable and simple substitutes for petrochemical products that are generated. The primary obstacle to the market for biofertilizers, however, is that they must be utilised before their expiration date and must be stored with extra caution. The absence of appropriate training in organic farming and farmers' limited understanding of biofertilizers are two more significant factors impeding the market's growth.
US Biofertilizers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cereals
Fastest Growth
Cereals
Growth Rate
12.3% CAGR
Global Biofertilizers Market ($ Bn)
Country Share by North America (%)
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Biofertilizers Market Segmental Analysis
The global biofertilizers market is segmented based on Type, Mode of Application and Crop Type. In terms of Type, the market is grouped into Nitrogen-Fixing Biofertilizers, Phosphate Solubilizing & Mobilizing Biofertilizers, Potassium Solubilizing & Mobilizing Biofertilizers and Other types. Based on the Mode of Application, the market is trifurcated into Soil treatment, Seed Treatment and Other Modes of Application. Based on the Crop Type, the market is segmented into Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables and Other Crop Types. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.
Analysis by Type
As per categorization by type, the market is classified as nitrogen-fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers, potassium solubilizing & mobilizing biofertilizers and other types. Among these, nitrogen-fixing biofertilizers earned the largest share and continue to dominate the market. Due to this, biofertilizers that fix nitrogen are changing the global biofertilizer market due to their ability to improve soil infertility with the help of natural nitrogen. Their unique ability to raise agricultural production forever without causing the application of synthetic insecticides distinguishes them from their competitors. Being a top-rated company in the market, such biofertilizers meet the growing demand for eco sustainable agriculture with inexpensive and non-polluting alternatives.
The global biofertilizer market is anticipated to witness the highest growth rate for phosphate-solubilizing and mobilizing biofertilizers owing to their ability to release vital nutrients from insoluble phosphates. This situation is fueled by rampant demand for environmentally friendly techniques of raising soil fertility and increasing agricultural production.
Analysis by Mode of Application
Innovation in the global bioproducts industry is spurred by formulations that enhance soil health and nutrient availability. These therapies have diverse applications in agricultural practices to promote sustainability and address the increasing demand for ecologically sound agricultural alternatives. They improve soil structure and microbial activity, which in turn increases crop resilience and productivity.
The world over, biofertilizers are expected to grow fastest due to treatments on seeds for it helps in preventing infections in seeds and promoting early plant growth. In doing so, it serves to reduce reliance on chemicals and improves yields while increasing germination rate that satisfies the rising need for sustainable agriculture practices.
Global Biofertilizers Market By Type (%)
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Biofertilizers Market Regional Insights
With its sophisticated agricultural infrastructure, robust legislative support for sustainable farming techniques, and growing consciousness of environmental implications, North America leads the global biofertilizers market. With organic farming gaining ground and environmentally friendly approaches for agricultural inputs on demand, biofertilizer usage in the region is increasing. Furthermore, government incentives, strong research and development, and technological breakthroughs are further propelling market growth. Currently the North America region remains the largest player in biofertilizer market owing to its emphasis on increasing crop productivity while reducing dependence on chemical fertilizers which aligns with sustainable agricultural practices embraced by this region.
Biofertilizer market is growing at an unprecedented rate in Asia Pacific due to its rapidly developing agricultural sector, increasing public awareness about sustainable farming practices and government initiatives encourage organic farming programs. This strong demand for food due to the region’s huge population has led to a push towards biofertilizers aimed at improving crop yields and soil health. Large investments in biofertilizer research and development are being made by nations like China and India, who receive subsidies and advantageous regulations in return. A major growth engine in the worldwide biofertilizer industry, Asia Pacific is driven by growing environmental concerns and the need to limit the use of chemical fertilizers.
Global Biofertilizers Market By Geography
- Largest
- Fastest
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Biofertilizers Market Dynamics
Drivers
Growing Demand for Sustainable Agriculture:
- Amidst parched globes, there has been a marked movement towards the practice of sustainable agriculture practice that can be attributed to the growing worldwide concern about the environment. Biofertilizers are gaining traction in the agricultural sector since they serve as eco-friendly alternatives to chemical fertilizers; enable crop production increase, decrease pollution and enhance soil fertility.
Government Support and Regulations:
- In many nations, the authorities have established regulations, provided incentives and granted financial assistance for organic farming to reduce the number of inorganic fertilizers applied. Hence, there is a growth in biofertilizer market globally as farmers seek to increase their productivity while conforming with environmental protection rules.
Restraints
Lack of Awareness and Education:
- Farmers' ignorance and lack of education, especially in developing nations, is a major obstacle to the global biofertilizers market, notwithstanding their advantages. The use of biofertilizers is hesitant among farmers due to their lack of knowledge about their advantages, uses, and application techniques.
Shorter Shelf Life and Storage Challenges:
- Generally, the duration for which bio fertilizers can last is shorter than that of chemical fertilizers, thus necessitating appropriate storage to maintain their effectiveness. However, this may hinder growth in market sizes as operational challenges mostly arise where there is poor infrastructure.
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Biofertilizers Market Competitive Landscape
The competitive environment of the worldwide biofertilizer market is defined by the existence of major international firms that prioritise product development, innovation, and joint ventures. Advanced biofertilizer solutions from companies like BASF SE, Bayer AG, Rizobacter, Novozymes, and others are driving the market and improving agricultural yield and sustainability. To satisfy the increasing need, especially in developing countries where organic agriculture is getting more attention, these firms are expanding their international reach and sponsoring studies.
Biofertilizers Market Top Players Company Profiles
- Novozymes (Denmark)
- Rizobacter (Argentina)
- BASF SE (Germany)
- Bayer AG (Germany)
- Symborg (Spain)
- Lallemand Inc. (Canada)
- Biomax Naturals (India)
- T. Stanes & Company Limited (India)
- Kan Biosys (India)
- Kiwa Bio-Tech Products Group Corporation (China)
- Mapleton Agri Biotech (Canada)
- Agri Life (India)
- Camson Bio Technologies Ltd. (India)
- Gujarat State Fertilizers & Chemicals Ltd. (India)
- Madras Fertilizers Limited (India)
Biofertilizers Market Recent Development
- In June 2024, the "BioYield Max" is a latest Novozymes biofertilizer that enhances nitrogen fixation in soybean crops. By using modern microbial strains, this innovative product aims to meet the increasing global need for sustainable agricultural practices in strategic regions especially North America and South America through higher crop production and improved soil fit.
- In April 2024, following its acquisition of BioSolutions, a top supplier of organic soil enhancers, BASF SE increased the range of biofertilizers it offers. By making this calculated strategic decision, BASF is better positioned to provide more complete sustainable farming solutions throughout Asia-Pacific and Europe.
- In May 2024, In the Latin American market, Rizobacter unveiled "Rhizobac Plus," a state-of-the-art biofertilizer for cereal crops. The product is designed to enhance phosphorus solubilisation and augment nutrient availability, catering to the increasing need for environmentally friendly agricultural inputs in the region and augmenting crop output under difficult soil circumstances.
Biofertilizers Key Market Trends
- Embracing Eco-Friendly Solutions and Organic Farming: The biofertilizer industry saw several trends and changes throughout the years, but one of the main themes we can see today is the rise of eco-friendly and sustainable agricultural methods. The beneficial microorganisms found in biofertilizers, which boost the availability of nutrients to plants, have gained acceptance as a viable substitute for conventional chemical fertilizers. The ever-increasing recognition and acceptance of organic farming is one more such noteworthy trend in biofertilizer business.
- Impact of Precision Technology on Biofertilizer Efficiency and Usage: The farming community is witnessing a shift in the biofertilizers industry because of the integration of technology. In fact, advanced precision farming methods that use sensors, drones and various forms of data analysis are making biofertilizers more precise and efficient. Due to real-time data access, cultivators may now calculate when and how much biofertilizer to use, increasing its effectiveness while minimizing waste.
Biofertilizers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, to sum up, the global biofertilizers market is expanding significantly due to developments in technology and a move towards sustainable agriculture. Biofertilizers maintain soil fertility, increase crop yield and are a natural alternative to chemical fertilizers as they provide essential nutrients to the soil gently. Two key sub-segments of the market, nitrogen-fixing biofertilizers and phosphate-solubilizing ones, are being promoted due to their efficacy and environment-friendly nature.
Although challenges including insufficient awareness in addition to problems with storage still exist, this industry has benefitted from robust legislative framework and increasing popularity of organic farming. Innovations and regional dynamics, especially in North America and Asia-Pacific, are shaping the future of this ever-changing market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.67 Billion |
| Market size value in 2031 | USD 6.52 Billion |
| Growth Rate | 12.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biofertilizers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biofertilizers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biofertilizers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biofertilizers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biofertilizers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biofertilizers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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