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

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.