Biofertilizers Market Worth $3.2 billion by 2029

 


 

 

 

 
Meticulous Research®—a leading global market research company, published a research report titled, ‘Biofertilizers Market by Microorganism Type (Nitrogen-fixing Microbes {Rhizobia Bacteria}, Phosphate Solubilizing Microbes), Crop Type (Cereals & Grains, Oilseeds & Pulses), Mode of Application (Seed Treatment, Fertigation), Form - Global Forecast to 2029.’

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According to this latest publication from Meticulous Research®, the biofertilizers market is projected to reach $3.2 billion by 2029, at a CAGR of 11.5% from 2022–2029. The growth of this market is driven by the growth in organic farming, the rising demand for organic food, the growing concerns regarding environmental safety, the increasing government initiatives to promote the use of biofertilizers, and the rising investments from leading market players. Furthermore, the growing adoption of fertilizers in emerging economies is expected to provide significant opportunities for the players operating in this market.

The global biofertilizers market is segmented by microorganism type (nitrogen-fixing microbes, phosphate solubilizing & mobilizing microbes, potassium solubilizing & mobilizing microbes, other microorganism types), crop type (cereals & grains, oilseeds & pulses, fruits & vegetables, other crop types), mode of application (fertigation, foliar application, seed treatment, other modes of application), and formulation (dry biofertilizers, liquid biofertilizers). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on microorganism type, in 2022, the nitrogen-fixing microbes segment is expected to account for the largest share of the global biofertilizers market. The large market share of this segment is attributed to the hazards associated with the use of chemical fertilizers, the rising number of initiatives by government agencies along with increasing awareness about the need for sustainability in modern agriculture, the rising adoption of advanced farming with drip irrigation and sprinklers, and the growing health concerns. In addition, nitrogen-fixing microbes are a more economical, ecological, and profitable solution to provide nitrogen to plants contributing to their increased adoption.

Based on crop type, the oilseeds & pulses segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the rising demand for organic oilseeds & pulses, the increase in the area under organic oilseed & pulses cultivation, and the rising demand for plant-based foods.

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Based on mode of application, in 2022, the seed treatment is expected to account for the largest share of the global biofertilizers market. The large market share of this segment is attributed to the several advantages of seed treatment in biofertilizers, such as increasing seed germination and decreased incidence of foot and root rot. It also helps to solubilize phosphorous in the soil and improve its availability. The increasing use of biofertilizers in seed treatment of cereals such as rice, wheat, sorghum, and maize and oilseeds such as groundnut, sunflower, and soybean are driving the biofertilizers market.

Based on formulation, the liquid biofertilizers segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by the benefits offered by liquid biofertilizers, such as high efficiency & absorbability, ease of use, cost-effectiveness, and uniform application.

This research report also analyzes major geographies and provides a comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global biofertilizers market. The large market share of this segment is attributed to the increasing demand for organic products, the increasing health awareness among consumers, the growing acceptance of biofertilizers among rural farmers, continuously growing areas under organic cultivation, and the high adoption rate of advanced irrigation systems, such as drip & sprinkler irrigation for fertigation.

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Key Players

The key players operating in the global biofertilizers market are AgriLife (India), American Vanguard Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), IPL Biologicals Limited (India), Koppert B.V. (Netherlands), Lallemand Inc. (U.S.), Mapleton Agri Biotec Pt Ltd (Australia), National Fertilizers Limited (India), Novozymes A/S (Denmark), Rizobacter Argentina SA (Argentina), Symborg Corporate, SL (Spain), UPL Limited (India), and Vegalab SA (Switzerland).

Key Questions Answered in the Report-

·  Which are the high-growth market segments based on microorganism type, crop type, mode of application, formulation, and region/country?

·  What was the historical market size for biofertilizers across the globe?

·  What are the market forecasts and estimates for 2022–2029?

·  What are the major drivers, restraints, opportunities, and challenges for the global biofertilizers market?

·  Who are the major players in the global biofertilizers market?

·  How is the competitive landscape, and who are the market leaders in the global biofertilizers market?

·  What are the recent developments in the global biofertilizers market?

·  What are the geographical trends and high-growth regions/countries?

·  Who are the local emerging players in the global biofertilizers market, and how do they compete with the global players?

 

 

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