Biofertilizer Market Value, CAGR, Share, Top Companies and Forecast by 2027

Published April 6, 2023

 According to IMARC Group’s latest report, titled “Biofertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global biofertilizer market reached a value of US$ 2.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.31 Billion by 2027, exhibiting at a CAGR of 14.66% during 2022-2027.

Biofertilizer represents natural fertilizers made from biological waste that contains living microorganisms. They can be categorized into nitrogen-fixing and phosphate-fixing product types. In comparison to chemical fertilizers that offer direct nutrition to the plant, the biofertilizer variants help to improve overall soil fertility. They aid in decomposing organic matter and breaking down complex minerals for easy absorption by plants. Biofertilizer formulations do not allow pathogens to grow, thereby preventing crop diseases. Consequently, they find extensive applications in the agricultural segment across countries.

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Biofertilizer Market

Biofertilizer Market Trends:

The expanding requirement for fertilizers that are compatible with sustainable and organic agricultural and farming practices is among the key factors driving the biofertilizer market. Additionally, the shifting consumer preferences toward organic food products and chemical-free produce are acting as significant growth-inducing factors. Apart from this, the growing awareness about the environmental and health hazards, owing to the use of synthetic agrichemicals, is also positively influencing the market growth. Moreover, the elevating need for nitrogen-fixing phosphate solubilizing product variant for correcting the nitrogen level in the soil and improving the production of several high-demand crops, such as rice, wheat, oilseeds, etc., is further stimulating the global market. Besides this, the launch of numerous favorable financial incentives by government bodies across the globe aimed at promoting the adoption of bio-based fertilizers and the introduction of multiple education programs for farmers to make them aware of the benefits of sustainable farming methods and organic agrochemicals to enhance overall crop yield are expected to propel the biofertilizer market over the forecasted period.

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Competitive Landscape with Key Players:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Novozymes A/S
  • National Fertilizers Limited
  • Madras Fertilizers Limited
  • Gujarat State Fertilizers & Chemicals Ltd.
  • Rizobacter Argentina S.A.
  • Stanes & Company Limited
  • Camson Bio Technologies Limited
  • Rashtriya Chemicals & Fertilizers Ltd.
  • Lallemand Inc.
  • Nutramax Laboratories, Inc.

Key Market Segmentation:

The report has categorized the market based on type, crop, microorganism and mode of application.

Breakup by Type:

  • Nitrogen-fixing biofertilizers
  • Phosphate-fixing biofertilizers
  • Others

Breakup by Crop:

  • Cereals and grains
  • Pulses and oilseeds
  • Fruits and vegetables
  • Others

Breakup by Microorganism:

  • Cyanobacter
  • Rhizobium
  • Phosphate Solubilizing Bacteria
  • Azotobacter
  • Others

Breakup by Mode of Application:

  • Seed treatment
  • Soil treatment
  • Others

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Others

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Key Highlights of The Report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

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