The Global Biofertilizers Market was valued at USD 2.45 Bn in 2020 and is expected to reach USD 5.82 Bn by 2027, with a growing CAGR of 13.2% during the forecast period.
Biofertilizers are defined as the substances comprising living microorganisms, which are applied to plant, soil, and seed to improve crop yield by supplying essential nutrients, such as P, N, and several other mineral nutrients. It contains living organisms including blue-green algae, bacteria, and mycorrhizal fungi that supply the required nutrients and organic matter and to the soil which in turn are absorbed by the crops. In addition, biofertilizers do not allow the growth of pathogens, thus helping in preventing crop diseases.
The global biofertilizers market has been experiencing traction owing to the rapidly rising demand and production for organic food across the globe. The shifting concerns of consumers regarding food safety issues, along with rising residue levels in food, owing to the increasing concerns regarding their health is expected to drive the global biofertilizers market. This rising awareness has resulted in consumers preferring and demanding chemical-free food products. According to the Food and Agriculture Organization of the United States, in 2019, the sales of organic food and drink reached more than 106 billion euros across the globe. In addition, the data provided by the organization also shows that 187 countries are actively engaged in organic farming, and 72.3 million hectares of agricultural land were handled by at least 3.1 million farmers organically in the year 2019. Owing to this high demand for organic products, major supermarket chains such as Cosco and Wal-Mart are rapidly growing their product offerings of organic foods. Thus, the growth in the organic food market is surging the demand for organic manures and biofertilizers, as these are pre-requisites of organic farming.
In addition, several NGOs, and governing agencies, are assisting in the rapid adoption of modern farming practices through the usage of biofertilizers in agricultural practices. For instance, the National Mission on Oilseeds and Oil Palm (NMOOP), provides financial assistance in the form of 50% subsidies to purchase various chemical-free components including bio-fertilizers, and for supply of Azotobacter, Rhizobium culture, Zinc Solubilising Bacteria, Phosphate Solubilising Bacteria, and many more. Such favourable support is projected to positively influence the global biofertilizers industry growth. Also, the advent of integrated pest management programs which helps in promoting the use of biofertilizers in the agricultural sector is expected to boost the biofertilizers market growth.
By Microorganism Type
By Product Type
By Application
By Crop Type
By Region
The unique insights provided by this report also include the following:
Based on product type, nitrogen-fixing biofertilizers held the largest share in the biofertilizers industry in the year 2020 due to the rising need for correction of heavily contaminated water and soil reserves caused by the extensive usage of synthetic fertilizers
Based on product type, the biofertilizers industry is segmented as nitrogen-fixing biofertilizers, liquid biofertilizers, compost Biofertilizers, phosphorus biofertilizers. Among these nitrogen-fixing biofertilizers held the largest share in the biofertilizers industry in the year 2020. This high share is attributable to the need for correction of heavily contaminated water and soil reserves caused by the extensive usage of synthetic fertilizers for years across the globe. The growth of the plants requires high phosphorus content, fixed presence of nitrogen, and various other essential minerals in the soil, that are fulfilled using biobased fertilizers. Nitrogen-fixing biofertilizers including Actinobacteria, Rhizobium, Azospirillum, and Azotobacter, helps to transform nitrogen into organic compounds and promoting the healthy development of plants without any adverse impact on human health and the environment. Owing to this, nitrogen-fixing biofertilizers have been experiencing high demand by agricultural farmers across the globe.
Based on crop type, the cereals & grains segment dominated the agricultural biofertilizers market owing to rising demand for cereals & grains such as barley, rice, corn, millet, and wheat across the globe
Based on crop type, the global biofertilizers industry is fragmented pulses & oilseeds, grains & cereals, fruits & vegetables, plantation crops, and other crop types. Among these, the cereals & grains segment dominated the agricultural biofertilizers market. The rising demand for cereals & grains such as barley, rice, corn, millet, and wheat across the globe is pegged to garner significant product demand over the forecast period. Cereals and grains production requires a substantial quantity of biofertilizers for healthy development. Moreover, several studies conducted across the globe show that azotobacter inoculation has proved to be a highly effective biofertilizer helping in improving crop yield. Further, the rising product demand to enhance the growth of crops and to meet the increasing food demand from various developing agriculture-dependent economies, such as Japan, India, Indonesia, and Thailand are also expected to augment the biofertilizers market growth.
Based on regions, the biofertilizers market in North American region accounted for the largest share in 2020 owing to rising adoption of biofertilizers among rural farmers
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North American region accounted for the largest share in the biofertilizers industry across the globe. The growth in the region is majorly owing to the rising adoption of biofertilizers among rural farmers, along with the increasing acceptance of advanced irrigation practices such as drip & sprinkler irrigation for fertigation. The rising number of health-conscious people and the growing popularity of organic products is also expected to drive the biofertilizers industry. Further, growing environmental concerns and implementation of stringent regulatory environmental policies is another major factor growing preference of farmers to use biofertilizer products and leading to the favourable growth of the biofertilizers market.
The report also provides an in-depth analysis of Biofertilizers market dynamics such as drivers, restraints opportunities, and challenges
Drivers
Restraints
Opportunities
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
The Covid-19 outbreak has immensely influenced the biofertilizers market growth across the globe. The pandemic has led to the imposition of stringent lockdown regulations by various major economies. This further resulted in disrupting the imports and exports of the raw materials that are needed for making agricultural biofertilizers, thereby impacting global biofertilizers market growth. Price gouging by a few logistics companies owing to the difficulty in the availability of transporters has also come out as a significant issue in the agricultural biofertilizers market growth. Therefore, these uncertainties are implying logistical disruption and may result in a fall in the demand for organic and bio-based fertilizers during the forecast period.
The report also provides an in-depth analysis of key trends in Biofertilizers market
The report also provides an in-depth analysis of recent news developments and investments in the market
The key players operating in the biofertilizers industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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