What is the global market size of Biofertilizers Market?

Biofertilizers Market size was valued at USD 2.67 billion in 2021 and is poised to grow from USD 2.99 billion in 2022 to USD 6.52 billion by 2030, growing at a CAGR of 12.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Biofertilizers Market?

The biofertilizers market is fragmented, with the presence of several international and domestic players. Emerging players in the biofertilizer industry have integrated manufacturing and distribution while focusing on product innovation. The leading corporations have created processes and products to implement the product differentiation strategy. These businesses also collaborate with farmers to create personalized products. 'Novozymes A/S (Denmark)', 'Vegalab SA (Switzerland)', 'UPL Limited (India)', 'Chr. Hansen Holding A/S (Denmark)', 'Kiwa Bio-Tech (China)', 'Lallemand Inc. (US)', 'Rizobacter Argentina S.A. (Argentina)', 'T. Stanes & Company Limited (India)', 'IPL Biologicals Limited (India)', 'AgriLife (India)', 'Manidharma Biotech Pvt Ltd (India)', 'Biomax Naturals (India)', 'Jaipur Bio Fertilizers (India)', 'Valent Bio Sciences (US)', 'Aumgene Biosciences (India)', 'Agrinos (US)', 'Criyagen (India)', 'LKB Bio Fertilizer (Malaysia)', 'Varsha Bioscience and Technology India Pvt Ltd. (India)', 'Valagro (Italy)'

What is the key driver of Global Biofertilizers Market?

Increasing emphasis on organic agriculture to drive the global biofertilizers market growth

What is the key market trend for Global Biofertilizers Market?

Due to the increased demand for fertilisers that are consistent with sustainable and organic farming and agricultural methods, the biofertilizers market is expected to continue to rise in the years to come. These fertilisers are an affordable and environmentally benign solution for agricultural production; hence their use is expanding globally. Additional factors influencing the growth of the worldwide biofertilizers market include an increase in nutrient uptake by plants, an improvement in soil fertility, and a minimal danger to human health connected with bio-based fertilisers.

Which region accounted for the largest share in Global Biofertilizers Market?

North America is expected to dominate the global biofertilizers market over the forecast period. Due to the rising number of organic farms in major economies like the United States, Canada, and Mexico, the market in North America is developing significantly. Organic food products are the preferred option for those looking to prepare clean, healthy meals at home.

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

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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).

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. '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) '

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.

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.

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.

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What is the global market size of Biofertilizers Market?

Who are the key vendors in the Biofertilizers Market?

What is the key driver of Biofertilizers Market?

What is the key market trend for Biofertilizers Market?

Which region accounted for the largest share in Biofertilizers Market?

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