Biofertilizers Market Size to grow by USD 1.88 billion between 2023-2027
According to a research report “ Biofertilizers Market” by Application (Seed treatment, Soil treatment) Product (Nitrogen-fixing biofertilizers, Phosphate-solubilizing biofertilizers, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 1.88 billion, at a CAGR of over 12.76% during the forecast period. The biofertilizer market is poised for significant growth, driven by the increasing demand from key consumers in Asia Pacific, including China, India, Brazil, Indonesia, and Pakistan. The expansion of the agricultural sector in these countries to meet escalating food demands is a primary factor fueling market growth. Biofertilizers offer several advantages, such as ease of application and superior performance, making them an attractive alternative to conventional fertilizers. Additionally, the adoption of technology-driven irrigation systems, such as micro drip irrigation, and the rising preference for high-quality fertilizers are expected to further boost market growth. With APAC being a significant consumer of fertilizers worldwide, the increasing population and per capita income contribute to the demand for food and agricultural products, thereby driving the need for efficient and sustainable fertilizer solutions like biofertilizers.
Browse market data tables, figures, and in-depth TOC on “Biofertilizers Market” by Application (Seed treatment, Soil treatment) Product (Nitrogen-fixing biofertilizers, Phosphate-solubilizing biofertilizers, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample
By Application, the Seed treatment segment is projected to dominate the market size in 2024
In the global biofertilizers market, nitrogen-fixing biofertilizers hold a significant market share due to the essential role nitrogen plays in plant growth, particularly in amino acid and protein synthesis. Traditional nitrogen sources, such as chemical fertilizers, have been widely used, but their manufacturing and application come with environmental concerns. These concerns include the release of greenhouse gases during production and the contamination of water sources due to nitrate leaching. Excessive use of chemical fertilizers can negatively impact soil fertility, ultimately reducing agricultural sustainability. Biofertilizers, on the other hand, offer a sustainable and eco-friendly alternative by naturally fixing atmospheric nitrogen, reducing the reliance on synthetic fertilizers and mitigating environmental hazards.
By Product, Nitrogen-fixing biofertilizers segment is expected to hold the largest market size for the year 2024
In the dynamic biofertilizers market, seed treatment has emerged as a game-changer. This process, which involves applying biofertilizers directly to seeds prior to planting, significantly enhances their quality and grants them access to essential nutrients and beneficial bacteria. Seed treatment is a strategic approach that fosters healthier seedlings, enabling them to better resist diseases and pests. Key drivers fueling the demand for seed treatment in the biofertilizers industry include its practicality and effectiveness in delivering biofertilizers directly to the seedlings, thereby ensuring optimal nutrient uptake. Furthermore, as the call for sustainable farming practices intensifies, seed treatment offers a viable alternative to conventional chemical fertilizers and pesticides.
North America is forecasted to hold the largest market size by region in 2024
The urbanization trend in the United States and Canada has led to substantial income growth, with disposable personal income increasing by approximately 5.7% from 2019 to 2020. This economic uptick has resulted in a heightened preference for premium organic food products. The creation of new jobs in urban areas has further facilitated the migration of individuals from rural to urban regions, thereby expanding household income. As a result, the demand for biofertilizers, a crucial component in organic farming, has surged in North America. The US organic farming sector, a significant contributor to the North American biofertilizers market, is expected to continue driving market growth throughout the forecast period.
The Biofertilizers Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Biofertilizers market is witnessing a rising demand due to the increasing awareness of preserving soil health and sustainability in agriculture. Nitrogen-fixing soil, rich in cyanobacteria and other microorganisms, plays a crucial role in the Biofertilizers industry. These living microbes, including rhizobia, phosphate solubilizers, and nitrogen biofertilizers, enhance plant nutrition by making essential nutrients like nitrogen and phosphate available to crops. Soybean is a significant crop benefiting from biofertilizers, as soybean rhizobia form a symbiotic relationship with the plant, converting atmospheric nitrogen into a usable form. Bioinoculants, a type of biofertilizer, contain these beneficial microorganisms and are gaining popularity in protected agriculture and precision farming. Microorganisms like algae, fungi, and bacteria, which are naturally occurring in the rhizosphere, contribute to the Biofertilizers market. The use of biofertilizers not only promotes healthier plants but also reduces the need for chemical fertilizers, minimizing fertilizer abuse and harm to ecosystems. In summary, the Biofertilizers market is driven by the need for sustainable fertilizers that preserve soil fertility, improve nutrient uptake, and contribute to the overall health of plants. The use of nitrogen biofertilizers, phosphate solubilizers, and other bioinoculants in agriculture is a step towards reducing the reliance on chemical fertilizers and ensuring long-term soil health.
Market Research Overview
The Biofertilizers market is witnessing a surge in demand due to the increasing awareness of sustainable organic farming and the rising health benefits of consuming pesticide-free produce. Biofertilizers, which include vegetable oils, sulfur, organic cereals, and living microbes like Bacillus, Pseudomonas, Azospirillum, Azotobacter, Rhizobium, and Rhizosphere microorganisms, play a crucial role in soil treatment and seed treatment. These microorganisms enhance soil fertility by increasing nutrient uptake, improving soil structure, and promoting plant growth. The cereal segment, particularly cereal grains, is a significant contributor to the Biofertilizers market. Phosphate solubilizing bacteria and nitrogen-fixing soil microbes are essential for the growth of crops like cucumber, eggplant, tomato, pepper, and soybean. The manufacturing challenges of producing cost-effective quality biofertilizers and the technological development of liquid biofertilizers are key trends in the market. The agricultural industry's shift towards sustainable organic farming and the PM PRANAM scheme's promotion of biological fertilizers in agridominant economies are driving the growth of the Biofertilizers market. However, the slow recovery of the fiscal system and the harm caused by fertilizer abuse to ecosystems are challenges. The use of naturally occurring sustainable fertilizers like algae, fungi, and bacteria is gaining popularity as an alternative to synthetic fertilizers, which pose health hazards and contribute to water contamination. The future of the Biofertilizers market lies in precision farming, protected agriculture, and fertilization plans that optimize nutrient uptake while preserving soil fertility.
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