Enjoy complimentary customisation on priority with our Enterprise License!
The Global Biofertilizers Market size is estimated to grow at a CAGR of 12.76% between 2022 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. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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).
To learn more about this report, Request Free Sample
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 will help companies refine their marketing strategies to gain a competitive advantage.
The advent of liquid fertilizers is a key factor driving the market growth. A significant innovation in the global biofertilizers market is the emergence of liquid biofertilizers, which are liquid formulations containing desired microorganisms and nutrients. Unlike carrier-based biofertilizers with a limited six-month shelf life and susceptibility to UV rays and high temperatures, liquid biofertilizers boast a two-year shelf life and tolerance to adverse conditions. Their higher microbe density and ease of application through power sprayers and hand sprayers make them more potent and user-friendly compared to traditional biofertilizers.
In June 2020, scientists at Bihar Agricultural University developed eco-friendly liquid biofertilizers that increase crop yield by 20 percent, providing a promising alternative to chemical fertilizers and driving the market's growth during the forecast period.
Regulation for food safety and environmental pollution is a key trend shaping the market. Provincial regulations aimed at sustainable agriculture and the safety of agricultural inputs are discouraging the use of chemical fertilizers and promoting the adoption of biofertilizers. The International Organization for Standardization (ISO) establishes standards to ensure high-quality and safe agricultural products, including fertilizers and soil conditioners. ISO's standards cover measurements of various chemicals in fertilizers and test procedures for determining fertilizer bulk density. The detrimental effects of synthetic fertilizers on soil quality drive the adoption of biofertilizers, which act as a natural source of nutrients and organic matter, improving soil structure and water-holding capacity. ASTM D4972 - 13 provides standard tests for determining soil pH to assess soil acidification caused by certain fertilizers. Compliance with these safety and quality regulations is expected to drive the demand for biofertilizers in the foreseeable future.
Issues with biofertilizers affordability is a key factor hindering the market growth. High-quality biofertilizers are readily available in developed countries, but their affordability and accessibility are limited in developing regions like South America and Africa, where crop production demands are high. The low purchasing power of farmers and price sensitivity act as major barriers, hindering the adoption of biofertilizers in these countries. Insufficient information about organic farming products leads many farmers to choose traditional chemical fertilizers. Convincing farmers of cost savings and comparable yields with biofertilizers is crucial for their widespread adoption. The challenge of product affordability is expected to impede the growth of the biofertilizer market in these regions during the forecast period.
The market share growth by the seed treatment segment will be significant during the forecast period. The rising in the 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.
Get a glance at the market contribution of various segments View the PDF Sample
The seed treatment segment shows a gradual increase in the market share of USD 1152.33 million in 2017 and continue 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 market is fragmented into nitrogen-fixing biofertilizers, phosphate-solubilizing biofertilizers, and others. Nitrogen-fixing biofertilizers lead the global biofertilizers market due to the crucial role of nitrogen in plant nutrition. While chemical fertilizers traditionally supply nitrogen, they pose environmental hazards like greenhouse gas emissions and water contamination. Excessive chemical fertilizer use negatively impacts soil fertility and agricultural sustainability.
In contrast, biofertilizers offer sustainable nitrogen nourishment by effectively fixing atmospheric nitrogen and transferring it to plants, enhancing fertilizer efficiency. Combining nitrogen biofertilizers with chemical fertilizers reduces overall chemical usage. These biofertilizers also enhance crop resilience and yield. Examples include Azospirillum, Beijerinckia, and Azotobacter, associated with cereals, tobacco, tea, coffee, and coconut. Innovations like Blacksmith BioScience's Nitryx SP further drive the demand for nitrogen-fixing biofertilizers, contributing to 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.
For more insights on the market share of various regions Download PDF Sample now!
Urbanization in the US and Canada has led to increased household income, driving the demand for organic food products. With higher income, people are more inclined towards premium quality food like organic products, which in turn boosts the sales of biofertilizers in North America. The US organic farming sector is a significant contributor to the biofertilizers market, experiencing growth in the number of certified organic farms and record-high sales of organic products. Government initiatives, such as USDA providing resources to promote organic farming, also contribute to the demand for biofertilizers in North America. However, small-scale producers in Mexico face challenges due to high certification costs, but local market initiatives aim to make the organic label more accessible, fostering a sustainable food system and further driving the demand for biofertilizers in the region.
The outbreak of COVID-19 hindered the growth of the regional market in focus in 2020-2021. The mandatory lockdowns imposed in 2020 resulted in a shortage of raw materials, such as phosphate, used for the manufacturing of biofertilizers in the region. This slowed down the manufacturing of biofertilizers, which created a supply-demand imbalance in the regional market in focus. This hindered the growth of the regional market in focus in 2020. However, lockdowns were lifted in Q4 2020, and business activities were resumed. The initiation of vaccination programs by the various government in the region in early 2021 resulted in the control of the spread of COVID-19. This led to the operation of the biofertilizers manufacturing facilities to operate at full- capacity. This led to an increase in the demand for biofertilizers due to an increase in agriculture activities in the region in 2021 and 2022. This trend is expected to continue and drive the growth of the regional biofertilizers market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biofertilizers Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bioceres Crop Solutions Corp- The company offers Biofertilizers such as micro beaded fertilisers and biofertilisers.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Alltech Inc., 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 biofertilizers market 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.
Biofertilizers Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.76% |
Market growth 2023-2027 |
USD 1,881.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.02 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, India, Spain, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
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 |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.