Global Biofertilizers Market: By Product (Nitrogen Fixing, Phosphate Solubilizing and others), End-Use (Seed Treatment, Soil Treatment), Crop (Cereals & Grains, Oilseed & Pulses, F&B and others) and Geography, and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2028

Description

Market Overview: The global biofertilizers market platform market size was valued at USD 7,012 million in 2022 and is projected to expand at a CAGR of 12.5% from 2023 to 2028. The growth of the market is primarily attributed to the rising demand for organic food, regular advancements in technology, together with the increasing agricultural productivity, are some of the factors that are predicted to enhance the growth of the market in the forthcoming years.

What Factors are Leading to the Growth of the Global Biofertilizers Market?

• The rising demand for chemical fertilizers, including soil degradation, water pollution, and greenhouse gas emissions, has led to increased interest in sustainable agriculture practices. This has augmented the growth of the biofertilizers market.
• Numerous governments worldwide are implementing initiatives including financial incentives for farmers adopting biofertilizers, research and development funding, and educational programs to raise awareness about the benefits of biofertilizers. These programs are reaching a large amount of audience which may drive the growth of the market.
• Furthermore, technological advancements such as microbial consortia, liquid biofertilizers, and strain improvements enhance the efficiency and applicability of biofertilizers across different crops and soil types. These innovations attract farmers, which makes them a significant factor in the growth of the biofertilizers market.

Which Industry Trends have been Fueling the Growth of the Biofertilizers Market?

Performance By Key Players:  Numerous key players are actively participating in the growth of the market, which has increased the competitive edge among the key players leading to the better production of goods. Novozymes A/S holds the highest market share in the biofertilizers market, also known for its extensive range of microbial solutions for agriculture. The company’s strong focus on research and development, strategic partnerships, and global presence make it a leading player in the market.

Accelerating Agricultural Productivity:  Biofertilizers are a huge help to farmers as they improve soil fertility, enhance nutrient uptake by plants, and promote healthy root development, leading to higher crop yields. Hence, rising agricultural productivity attracts farmers which would eventually lead to the growth of the market.

Increasing Demand for Organic Products: The growing demand for awareness of the health benefits associated with organic food and the rising disposable income of consumers contribute to the demand for organic products. Moreover, it is observed that organic farming relies heavily on biofertilizers to enhance soil fertility and ensure the health of crops without using synthetic chemicals, hence propelling the overall growth of the market.

What is the Current Structure of the Global Biofertilizers Market?

By End-User Type, Agriculture Sector has Dominated the Largest Market Share in the Global Biofertilizers Market

The increased adoption of biofertilizers among farmers is driven by factors such as cost-effectiveness, environmental benefits, and government incentives. Additionally, the agricultural cooperatives often purchase biofertilizers in bulk and distribute them to their members, providing technical support and training on their usage. These factors have led the agriculture sector to dominate the largest market share in the market globally.

By Product Type

In 2023, products that fix nitrogen with biofertilizers held a dominant market share of over 80%. This can be attributed to the remediation of severely damaged soil and water sources resulting from decades of synthetic fertilizer use worldwide.However, the most common bacteria employed to supply plants with phosphorus macronutrients are Bacillus, Pseudomonas, and Aspergillus. With the help of soluble bacteria, these biofertilizers can hydrolyze both organic and inorganic phosphates from insoluble substances. In the Asia-Pacific region, nations like Thailand, Australia, China, India, and Australia have primarily relied on artificially made phosphate fertilizers.

By Crop Type

For healthy development, a significant amount of biofertilizers are required in the production of cereals and grains. Research from all across the world showed that when Azotobacter was injected into cereal and grain crops, they showed strong development and growth, which helped to lower the amount of nitrogen that the crops needed. From 2023 to 2030, oilseeds and pulses are expected to increase at the quickest rate in terms of volume, with a compound annual growth rate (CAGR) of 13.0% in the biofertilizer industry. The main driver of the product’s use in the oilseeds and pulses industry is thought to be the rising demand for groundnuts, sunflower, and soybeans worldwide. For a variety of pulse and oilseed crops, biofertilizer formulations containing phosphorus-solubilizing bacteria, rhizobium, plant growth-promoting rhizobacteria, and vesicular arbuscular mycorrhiza have been shown to be the most efficient worldwide.

By Region Type, North American Region Leads the Market

North America being a significant market, focusing on organic farming and sustainable agriculture practices has boosted the demand for biofertilizers. Additionally, the presence of leading biofertilizer manufacturers in the region enhances product availability and adoption, which drives the expansion of the biofertilizers market.The bulk of agrarian economies, including those in India, Thailand, Japan, Malaysia, South Korea, the Philippines, and other countries, are centered in the Asia Pacific region, and they are gradually changing their agricultural practices to become more sustainable. This trend is supported by growing consumer preferences for eating organic food, as well as legislative actions and agricultural reforms implemented by different Asian governments. The expansion of organic agricultural methods is rising at the same time as the biofertilizer industry. Because farming communities throughout Brazil and Argentina have embraced sustainable agricultural practices, Latin America has had the second-highest growth rate of 12.9% throughout the projection period.

Competitive Analysis

The global biofertilizers market’s growth is attributed to the increasing demand for organic food, environmental concerns, government initiatives, technological advancements, and the need for sustainable agricultural practices. Numerous key players in the market are leveraging innovation, strategic partnerships, and strong distribution networks to maintain their competitive edge worldwide. The biofertilizers market is expected to play a crucial role in shaping the future of agriculture in the upcoming years. Some of the major players include CBF China Biofertilizers; Novozymes A/S; AgriLife; Mapleton Agri Biotec; Biomax; Rizobacter Argentina SA; Symborg S.L.; National Fertilizers Ltd.; Antibiotice S.A.; Lallemand Inc.; Labiofam SA; Sigma Agri-Science, LLC; Agrinos Inc.; Fertilizers USA LLC; Kiwa Bio-Tech Products Group Corporation

Market Segmentation

Global Biofertilizers Market, By Product

• Nitrogen Fixing
• Phosphate Solubilizing
• Others

Global Biofertilizers Market, By Crop

• Cereals & Grains
• Oilseeds & Pulses
• Fruits and Vegetables
• Others

Global Biofertilizers Diagnostics Market, By Application

• Seed Treatment
• Soil Treatment

Global Biofertilizers Market, By Region Type

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• UAE

Key Companies

• Novozymes A/S
• Bayer CropScience
• Syngenta
• BASF SE
• Rizobacter Argentina S.A.
• Stanes & Company Limited
• Camson Bio Technologies Limited
• AgriLife
• Biotech International Ltd.
• Kiwa Bio-Tech Products Group Corporation
• Mapleton Agri Biotech
• National Fertilizers Limited
• Rashtriya Chemicals & Fertilizers Ltd.
• Gujarat State Fertilizers & Chemicals Ltd.
• Symborg S.L.