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The Biofertilizers Market size is estimated to grow at a CAGR of 12.76% between 2023 and 2027. The market size is forecast to increase by USD 1,881.8 million.
The growth of the market depends on several factors, including the increase in demand for biofertilizers from developing countries, a reduction in arable land, and the advent of liquid fertilizers.
This biofertilizers market report extensively covers market segmentation by application (seed treatment and soil treatment), product (nitrogen-fixing biofertilizers, phosphate-solubilizing biofertilizers, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Biofertilizers contain microorganisms that enhance plants' ability to synthesize substances that can be assimilated directly by plants, improve the uptake of nutrients, induce plant stress resistance, and prevent plant diseases such as soil-borne disease.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Reduction in arable land is a factor driving the growth of the market. The rapid pace of industrialization and urbanization has diminished available arable land. Unsound agricultural practices and deforestation have further depleted land fertility. Global arable land per person is projected to decline from 0.19 hectares in 2016 to 0.17 hectares by 2050. Addressing food production hinges on enhancing yields from existing farms, which biofertilizers facilitate.
Given the surging global population, food grain demand is set to rise by 70% by 2030. To meet this need, 34 million square kilometers of new arable land is required. Developing nations like China, Brazil, and India will need 120 million hectares by 2030. Depleting arable land is poised to escalate fertilizer demand, including biofertilizers, to meet the burgeoning food needs. These dynamics will propel the global biofertilizer market's growth in the forecast period.
The increasing popularity of integrated plant nutrient management is a major trend influencing the growth of the market. A persistent drive to enhance economic, social, and environmental sustainability in agriculture fosters the use of non-chemical fertilizers like biofertilizers. Integrated Plant Nutrient Management (IPNM) employs biological farming methods, such as sustainable practices, for sustainable soil fertility and plant productivity, curtailing environmental harm. IPNM's adoption involves farmyard manure, natural and mineral fertilizers, and water and soil conservation methods.
Key biofertilizers in IPNM include Rhizobium, Azotobacter, and Azospirillum. Plant growth-promoting rhizobacteria (PGPR) as microbial inoculants enhance plant growth, suppress disease and improve nutrient uptake. Biofertilizers serve as growth regulators, nurturing fine roots for optimal water and nutrient absorption. Growing biofertilizer adoption in IPNM is propelling the global biofertilizer market's expansion.
The availability of substitutes for biofertilizers is a major challenge hampering the market growth. Usability and maintenance issues associated with biofertilizers drive consumers toward alternatives like chemical fertilizers. Biofertilizers require careful storage due to live microbe content and limited shelf life. Incorrect strain USAge risks contaminating the carrier medium. Certain conditions must be met for microorganisms to flourish: sufficient soil nutrients, concurrent chemical fertilizer use, and suitable soil conditions. Extreme heat, dryness, or pH can reduce biofertilizer efficacy.
Microorganism strain scarcity and lack of appropriate growth medium may limit availability. Farmers often favor chemical fertilizers due to better understanding, hindering the global biofertilizer market's growth potential amid substitute availability and usability challenges.
The market share growth by the seed treatment segment will be significant during the forecast period. The rising in USe of seed treatment has significantly increased due to the direct application of biofertilizers directly to seeds. In addition, it improves quality and access to vital nutrients and healthy bacteria. Due to this treatment Plants grow healthier and are better able to fend off diseases and pests. Seed treatment provides a practical and effective way to apply biofertilizers directly to the seedlings, ensuring their efficient uptake. With the growing demand for sustainable farming practices, seed treatment reduces the requirement for conventional chemical fertilizers and pesticides.
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The seed treatment segment shows a gradual increase in the market share of USD 1,152.33 million in 2017 and continued to grow by 2021. Due to the rising need for sustainable and environmentally friendly agricultural practices, seed treatment with biofertilizers is having high demand in the market. For example, companies like Novozymes and Bayer CropScience provide solutions for seed treatment with their biofertilizer offerings. The increasing popularity among farmers is due to the ability of seed treatment to enhance seed quality, plant health, and overall crop productivity. Owing to all these factors, the demand for biofertilizers from seed treatment is expected to increase and drive the growth of the market focus during the forecast period.
Based on the product, the nitrogen-fixing biofertilizers segment dominates the market.
The dominant segment in the global biofertilizers market is nitrogen-fixing biofertilizers, given nitrogen's vital role in plant amino acid and protein synthesis. Chemical fertilizers conventionally supply nitrogen, but they pose environmental risks through greenhouse gas emissions during production and nitrate leaching into water bodies. Excessive chemical fertilizer use hampers soil fertility and agricultural sustainability. To address these concerns, biofertilizers offer sustainable nitrogen nutrition. They capture atmospheric nitrogen and enhance plant uptake, boosting fertilizer efficiency.
Combining nitrogen biofertilizers with chemicals curbs overall chemical fertilizer consumption. Nitrogen-fixing biofertilizers also bolster plant resilience, improving yields. Examples include Azospirillum, Beijerinckia, and Azotobacter, beneficial for various crops. Manufacturers like Blacksmith BioScience offer Nitryx SP, a nitrogen-fixing biofertilizer, enhancing plant nitrogen supply and yield through versatile applications. This growing demand for nitrogen-fixing biofertilizers is set to drive market growth during the forecast period.
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Urbanization in the US and Canada has led to higher household incomes, fueling the demand for organic food products. Urban job opportunities attract rural migrants, boosting incomes and driving interest in premium quality foods like organics. This surge in organic food demand propels North American biofertilizer sales, a trend expected to continue. The US organic sector is a key player, witnessing 5% growth in certified farms from 2019 to 2021, with record sales exceeding USD 11.2 billion in 2021. Government initiatives, like USDA support, further promote organic farming, escalating biofertilizer demand. In Mexico, initiatives like Tianguis y Mercados Organicos address certification challenges, fostering a sustainable food system. Such efforts will enhance North American organic farming, consequently driving biofertilizer demand in the forecast period.
The regional market faced COVID-19-related setbacks in 2020-2021. Lockdowns led to raw material shortages, notably phosphate, for biofertilizer production, disrupting supply. Manufacturing slowdowns caused a supply-demand gap, hindering market growth. Yet, Q4 2020 saw lockdowns lifted, vaccination programs initiated in early 2021 curbed COVID-19, and biofertilizer facilities resumed full operations. This, along with increased agricultural activities in 2021 and 2022, boosted biofertilizer demand. The trend is projected to persist, driving regional biofertilizer market growth throughout the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Envirokure- The company offers Biofertilizers such as EK L Plant Builder, EK L Super K and EK L Super K PLUS.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Alltech Inc., Bioceres Crop Solutions Corp., Biomaxnaturals, Blacksmith Bioscience Inc., Corteva Inc., EnviroKure Inc., Futureco Bioscience SA, Gujarat State Fertilizers and Chemicals Ltd., Kiwa Bio Tech Products Group Corp., Lallemand Inc., Madras Fertilizers Ltd., Mapleton Agri Biotec Pty Ltd., Monarch Bio Energy LLC, National Fertilizers Ltd., Novozymes AS, NutriAg Group Ltd., PUSHPA J. SHAH, Rashtriya Chemicals and Fertilizers Ltd., SOM Phytopharma India Ltd., and Utkarsh Agrochem Pvt. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Biofertilizers Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.76% |
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Market growth 2023-2027 |
USD 1,881.8 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
11.02 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key countries |
US, China, India, Spain, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alltech Inc., Bioceres Crop Solutions Corp., Biomaxnaturals, Blacksmith Bioscience Inc., Corteva Inc., EnviroKure Inc., Futureco Bioscience SA, Gujarat State Fertilizers and Chemicals Ltd., Kiwa Bio Tech Products Group Corp., Lallemand Inc., Madras Fertilizers Ltd., Mapleton Agri Biotec Pty Ltd., Monarch Bio Energy LLC, National Fertilizers Ltd., Novozymes AS, NutriAg Group Ltd., PUSHPA J. SHAH, Rashtriya Chemicals and Fertilizers Ltd., SOM Phytopharma India Ltd., and Utkarsh Agrochem Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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