Biofertilizers Market Size was valued at USD 2.31 billion in 2023 and is projected to grow from USD 2.61 billion in 2024 to USD 5.88 billion by 2031, exhibiting a CAGR of 12.3% during the forecast period.
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Market Overview:
Biofertilizers are substances containing living microorganisms that, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promote growth by increasing the supply or availability of primary nutrients to the host plant. These microorganisms restore the soil's natural nutrient cycle and build soil organic matter, contributing to sustainable agriculture practices.
The global shift towards sustainable agriculture, driven by the need to reduce environmental impact and enhance soil health, has significantly boosted the demand for biofertilizers. Governments worldwide are implementing policies and providing subsidies to encourage the adoption of biofertilizers, further accelerating market growth.
Top Companies in the Biofertilizers Market
Regional Insights:
North America: In 2023, North America dominated the biofertilizers market, accounting for approximately 42% of the total market share. This dominance is attributed to the region's strong emphasis on sustainable agricultural practices and a growing consumer preference for organic products.
Asia-Pacific: Countries like India and China are investing heavily in sustainable agriculture, leading to a significant increase in the adoption of biofertilizers. In India, the biofertilizer market is projected to grow from USD 152.5 million in 2025 to USD 233.5 million by 2030, at a CAGR of 8.90%.
Market Segmentation
By Product Type:
The prices of biofertilizers vary by factors like raw material costs, manufacturing types, and different types of microorganisms used in the product. While the upfront cost of a biofertilizer is relatively higher than that of chemical fertilizers, long-term benefits, like better soil quality and decreased usage of chemical fertilizers, lead to a higher return in cost-effectiveness within sustainable farming practices.
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Table Of Contents
1 INTRODUCTION OF THE GLOBAL BIOFERTILIZERS MARKET
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 Data Collection
Gain Full Insights @ https://www.extrapolate.com/chemicals-and-advanced-materials/biofertilizers-market/25955
Market Overview:
Biofertilizers are substances containing living microorganisms that, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promote growth by increasing the supply or availability of primary nutrients to the host plant. These microorganisms restore the soil's natural nutrient cycle and build soil organic matter, contributing to sustainable agriculture practices.
The global shift towards sustainable agriculture, driven by the need to reduce environmental impact and enhance soil health, has significantly boosted the demand for biofertilizers. Governments worldwide are implementing policies and providing subsidies to encourage the adoption of biofertilizers, further accelerating market growth.
Top Companies in the Biofertilizers Market
- Novozymes
- Rizobacter
- Bayer CropScience
- BioWorks
- Syngenta
- Kimitec
- UPL
- AgriLife
- Mycorrhizal Applications
- Lallemand
Regional Insights:
North America: In 2023, North America dominated the biofertilizers market, accounting for approximately 42% of the total market share. This dominance is attributed to the region's strong emphasis on sustainable agricultural practices and a growing consumer preference for organic products.
Asia-Pacific: Countries like India and China are investing heavily in sustainable agriculture, leading to a significant increase in the adoption of biofertilizers. In India, the biofertilizer market is projected to grow from USD 152.5 million in 2025 to USD 233.5 million by 2030, at a CAGR of 8.90%.
Market Segmentation
By Product Type:
- Nitrogen Fixing
- Phosphate Solubilizing
- Others
- Seed Treatment
- Soil Treatment
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
The prices of biofertilizers vary by factors like raw material costs, manufacturing types, and different types of microorganisms used in the product. While the upfront cost of a biofertilizer is relatively higher than that of chemical fertilizers, long-term benefits, like better soil quality and decreased usage of chemical fertilizers, lead to a higher return in cost-effectiveness within sustainable farming practices.
Related Reports and Latest Industry Development News:
Omakase and Remixpoint Team Up on Validator Business
Sony Bank Launches New Accounting System with Fujitsu
The Norinchukin Bank Adopts “Box” for Cloud Content Use
Table Of Contents
1 INTRODUCTION OF THE GLOBAL BIOFERTILIZERS MARKET
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 Data Collection
Attachments
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