Global Biofertilizers Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Biofertilizers Market Overview:

“The global Biofertilizers Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global biofertilizers market report has been segmented on the basis of product, application, and region.

Biofertilizers are the substances that fertile the soil using microorganisms and help to increase the level of nutrients in the plants.

These fertilizers are not harmful to crops like other chemical fertilizers. Increase in demand for biofertilizers is expected to lower the demand for chemical fertilizers, as they hamper the health of the soil.

Biofertilizers are produced from animal wastes and microbial mixture. Biofertilizers are environment-friendly and protect the plants from diseases.

Growing concerns regarding the food safety are expected to drive the biofertilizers market. Increasing demand for agrochemicals coupled with increasing adoption of bio-based plant enhancers is expected to boost the biofertilizers market over the forecast period.

Government initiatives to promote organic farming is estimated to fuel the market growth over the forecast.

Nitrogen fixing is estimated to account the major share of the market and is expected to maintain its dominance over the forecast period.

Nitrogen biofertilizers are used as nitrogen source of crops namely rice, sugarcane, etc., Rice is the prominent crop in many countries namely China, India, Japan, Brazil, Indonesia, which is expected to boost the demand for nitrogen biofertilizers in these regions.

Seed treatment is expected to be the largest application segment in the global biofertilizers market. Seed treatment with biofertilizers helps to sustain the viral attacks in the crop and helps in increasing the yield. Seed treatment can be done in two methods that are soil application and root dipping.

The ease in the adoption of biofertilizers for seed treatment is estimated to drive the market growth over the forecast period.

North America is expected to account major share in the market and is estimated to maintain its dominance over the forecast period.

Growing awareness regarding the consumption of organic food coupled with increasing awareness regarding the hazards associated with chemical fertilizers and pesticides are the major factors boosting the demand for biofertilizers in the region.

National Organic Program (NOP) initiated by US government, which aims to develop and implement standards for organic products. US imports around 50% of its nitrogen biofertilizers from Canada, Russia, and Trinidad and Tobago.       

Market segmentation and key players operating in the global biofertilizers market:

By product:

• Nitrogen-fixing
• Phosphate solubilizing
• Potash mobilizing
• Others

By application:

• Seed treatment
• Soil treatment
• Others

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa