Authored By: Sarah
20 Nov 2023

Biofertilizers Market to rise up by USD 1.88 Bn revenue through 2023-2027

The Biofertilizers Market is expected to expand at a compound annual growth rate (CAGR) of 12.76% from 2023 to 2027. An estimated USD 1.88 billion will be added to the market size.The market's expansion is contingent upon multiple variables, such as the rise in developing nations' need for biofertilizers, the decline in arable land, and the introduction of liquid fertilisers.

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Sneak Peak into the Biofertilizers Market Analysis

Biofertilizers Market Segmentation 

  • The Biofertilizers Market  segmentation is based on Product (nitrogen-fixing, phosphate-solubilizing, and other biofertilizers), Application (seed and soil treatment), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
  • When it comes to the fastest growing segment,the industry is seeing a strong demand for seed treatment with biofertilizers due to the growing requirement for ecologically friendly and sustainable farming practises.
  • Topographic Analysis forcasted 32% to the growth of the global market during the forecast period will generate from North America,with as US and Canada has led to increased household income, driving the demand for organic food products.

Agri Life SOM Phytopharma Ltd., Alltech Inc., Blacksmith Bio Science, EnviroKure Liquid Organic Fertilizer, Futureco Bioscience SA, Kiwa Bio Tech Products Group Corp., Lallemand Inc., Novozymes AS, Rashtriya Chemicals and Fertilizers Ltd., and SYMBORG CORPORATE SL are some of the major market participants that comes with wide range of offerings and is contributing significantly in market development across the world.

In-depth research of the market's revenue projections, along with a look at the major players, market drivers, and development prospects, are all included in Technavio's latest report. Learn more about the market dynamics and the aspects that our report's in-depth analysis predicts will have the biggest impact on the market under review.

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