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The biofertilizers market size is valued to increase by USD 2.27 billion, at a CAGR of 13.64% from 2023 to 2028. Increase in demand for biofertilizers from developing countries will drive the biofertilizers market.
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Biofertilizers, a vital component of organic farming, enhance soil fertility through the natural process of nitrogen fixation and phosphorus solubilization. Compared to conventional fertilizers, biofertilizers offer a more sustainable approach, reducing the need for synthetic inputs by up to 30%. Moreover, the application of biofertilizers can improve crop productivity by 10-20%, as shown in numerous agricultural studies. Biofertilizers play a crucial role in growth promotion by increasing nitrogenase activity and potassium mobilization. They also contribute to soil amendment by improving soil structure, rhizosphere competence, and microbial diversity. Furthermore, biofertilizers offer pest resistance and disease suppression through the production of siderophores, phytohormones, and biocontrol agents. Biofertilizers are essential for sustainable agriculture, as they promote root colonization by mycorrhizal fungi and enhance nutrient uptake through humic acid and enzyme production. By improving soil health and optimizing nutrient availability, biofertilizers contribute to yield improvement and precision farming practices. In summary, biofertilizers offer a cost-effective and environmentally friendly solution for enhancing soil fertility and promoting crop growth.
Developing countries' rising demand for biofertilizers serves as the primary market driver.
Organic farming is increasingly gaining popularity as the next market trend. The adoption of organic farming practices is on the rise.
The use of nitrogenous fertilizers in the industry raises significant health concerns, posing a substantial challenge to its growth.
The biofertilizers industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The seed treatment segment is estimated to witness significant growth during the forecast period.
The market continues to evolve, with seed treatment emerging as a significant trend. Seed treatment, which involves applying biofertilizers directly to seeds, enhances their quality and provides access to essential nutrients and beneficial microbes. This process, known as inoculation, boosts crop productivity by promoting growth, enhancing nitrogen fixation, and improving phosphorus solubilization.
The Seed treatment segment was valued at USD 1.27 billion in 2018 and showed a gradual increase during the forecast period.
Seed treatment also bolsters plant stress tolerance, enabling better root colonization and mycorrhizal association. Furthermore, it aids in soil amendment, pest resistance, and disease suppression, all while increasing microbial diversity and enhancing soil health. With precision farming gaining traction, seed treatment reduces the reliance on conventional chemical fertilizers and pesticides, contributing to sustainable agriculture. Approximately 30% of global seed treatment demand stems from the biofertilizers sector.
North America is estimated to contribute 34% 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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The North American market is experiencing significant growth due to the increasing trend toward organic food consumption, driven by urbanization and rising household income. According to the US Department of Agriculture (USDA), the number of certified organic farms in the US has grown by over 20% since 2015. This growth is attributed to the availability of educational resources provided by the USDA, which help organic producers adopt the latest organic farming practices, including the use of biofertilizers. In Canada, the organic food market size was valued at over USD 4 billion in 2020 and is projected to expand at a steady pace.
Biofertilizers' adoption in organic farming is a key factor contributing to this growth, as they offer operational efficiency gains and cost reductions compared to synthetic fertilizers, while also ensuring regulatory compliance.
Customer Landscape of Biofertilizers Industry
Companies are implementing various strategies, such as strategic alliances, biofertilizers market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Novozymes A/S - This company specializes in the production and distribution of biofertilizers, including Soil Set, Contribute Sr, Liqui Plex Bonder, Liqui Plex Minerals, Crop Set, Natures Basics 2x, Grain Set, Agro Mos, and Galvanize Contact.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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 industry 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.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Biofertilizers Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
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Market growth 2024-2028 |
USD 2271.4 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.72 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The market is experiencing significant growth as farmers and agribusinesses seek sustainable farming practices. Rhizobacteria mediated nutrient uptake and mycorrhizal fungi colonization impact are key mechanisms driving this trend. Rhizobacteria enhance nutrient availability for plants, while mycorrhizal fungi increase phosphorus use efficiency in crops by up to 20% compared to non-inoculated plants. PGPR (Plant Growth Promoting Rhizobacteria) influence on crop yield is another significant factor, with studies showing an average increase of 10-30% in wheat, rice, and maize yields. Moreover, am fungi contribute to drought tolerance and biocontrol against plant pathogens, making biofertilizers an attractive option for farmers in regions with water scarcity and high disease pressure. The application of biofertilizers also improves soil health by promoting soil nutrient cycling processes, such as organic matter decomposition rate, and enhancing soil microbial diversity. Humic acid enhanced nutrient availability is another important benefit of biofertilizers. Humic acid acts as a natural chelating agent, making nutrients more accessible to plants and improving nitrogen use efficiency by up to 30% in legumes. Furthermore, plant growth promotion mechanisms, such as phytohormone modulation and crop stress tolerance mechanisms, contribute to the overall productivity and resilience of crops. The microbial community composition in soil plays a crucial role in the efficacy of biofertilizers across different crops. Understanding the rhizosphere microbial interactions and their impact on soil health and nutrient cycling processes is essential for optimizing biofertilizer application and ensuring compliance with regulatory requirements. In conclusion, the market offers a sustainable and efficient alternative to traditional fertilizers. By improving nutrient availability, promoting plant growth, and enhancing soil health, biofertilizers contribute to operational planning and supply chain efficiency for agribusinesses. The market growth is expected to continue, with an increasing focus on sustainable farming practices and the need to address the challenges of nutrient deficiencies, water scarcity, and plant pathogens.
What is the expected growth of the Biofertilizers Market between 2024 and 2028?
USD 2.27 billion, at a CAGR of 13.64%
What segmentation does the market report cover?
The report is segmented by Application (Seed treatment and Soil treatment), Product (Nitrogen-fixing biofertilizers, Phosphate-solubilizing biofertilizers, and Others), Geography (North America, Europe, APAC, South America, and Middle East and Africa), Form (Liquid, Granular, and Powder), and Crop Type (Organic and Conventional)
Which regions are analyzed in the report?
North America, Europe, APAC, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
Increase in demand for biofertilizers from developing countries, Health concerns regarding use of nitrogenous fertilizers
Who are the major players in the Biofertilizers Market?
Novozymes A/S, Chr. Hansen Holding A/S, Syngenta AG, Bayer AG, BASF SE, Gujarat State Fertilizers & Chemicals Ltd., Lallemand Inc., Valent BioSciences, Kiwa Bio-Tech Products Group Corporation, AgriLife, Mapleton Agri Biotech, Madras Fertilizers Limited, Biomax Naturals, Rizobacter Argentina S.A., Symborg, Stoller Group, T. Stanes & Company Limited, Camson Bio Technologies, Nutramax Laboratories, and BioProtan
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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 Market Segmentation by Form
9 Market Segmentation by Crop Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 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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