Biofertilizers Market Size
Global Biofertilizer Market reached USD 2.56 billion in 2022 and is expected to reach USD 6.65 billion by 2031, growing with a CAGR of 12.6% during the forecast period 2024-2031.
The global biofertilizers market has witnessed significant growth and transformations over the years, farmers are highly adopting biofertilizers in various crops as they contain living microorganisms, such as bacteria, fungi, and algae, which enhance nutrient availability and nutrient uptake by plants. Also, they promote the natural processes in the soil that contribute to plant growth. Hence, such factors help in driving the global biofertilizers market growth.
Furthermore, many manufacturing companies are launching different products to expand their portfolios, for instance, in August 2023, Bionema Group Ltd., specializing in biocontrol technology, biostimulants, and biofertilizers, launched a new series of biofertilizer products in the United Kingdom. These products are designed for application in agriculture, horticulture, forestry, sports turf, and amenities. Hence, such products can help in increasing the adoption rate of biofertilizers.
The mycorrhiza-based biofertilizers hold the maximum share in the global market, as well as the Asia Pacific region has the largest share in the global biofertilizers market, as the region has high agricultural land, Austrian remains the largest consumer of biofertilizers as this 427 million hectares of agricultural land.
Market Scope
| Metrics | Details |
| CAGR | 12.6% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Microorganism, Type, Form, Distribution Channel, Crop Type, Application and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | North America |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increase in Demand for Chemical-Free Fertilizers
The demand for chemical-free fertilizers is increasing, for instance, according to the State of BioFertilizers and Organic Fertilizers in India report of 2022, In 2020–21, India produced about 1,34,323 tonnes of carrier-based solid biofertilizers. Tamil Nadu was the biggest producer of carrier-based solid biofertilizers with 48 % of total production in 2020–21.
Furthermore, the adoption of biofertilizers is increasing, as these contribute to improving soil health by promoting beneficial microbial activity. They help in maintaining soil structure, increasing water retention, and reducing the need for synthetic chemicals. Hence, such factors can help in increasing the market growth.
Increase Organic Farming
The demand for organic farming is increasing, for instance, according to the National Programme of Organic Production report, the total area under the organic certification process is 9119865.91 hacters in 2021-22, and India produced around 3430735.65 MT (2021-22) of certified organic products. Hence, such high production rates can help in boosting the market growth.
Furthermore, as the demand for organic farming is rising, which increases the demand for biofertilizers as these biofertilizers contribute to soil health by promoting beneficial microbial activity, improving soil structure, and enhancing nutrient availability. which helps in increasing crop productivity, hence, it can help in increasing the market growth.
High Production Cost
The production of specialized and effective biofertilizers requires special equipment and maintenance which can add additional manufacturing costs to the product also these biofertilizers require special storage conditions as their shelf life is low compared to synthetic chemical fertilizers, which can affect the production cost. Hence, the high production cost can hamper the market growth.
Market Segment Analysis
The global biofertilizer market is segmented based on the microorganism, type, form, distribution channel, crop type, application, and region.
Increase in Demand for Nutritive Fertilizers
The mycorrhiza segment holds the maximum share in the global biofertilizers market, farmers are highly adopting these mycorrhiza biofertilizers as they enhance their ability to improve phosphorus uptake by plants, also plants natural defense mechanisms, providing a degree of protection against certain soil-borne pathogens. Hence, such factors can help in increasing the market growth.
Furthermore, as the demand for these products is increasing, manufacturers are highly investing in these products, for instance, in August 2022, The Energy and Resources Institute's (TERI) SMART Agrisolutions, Chambal Fertilizers and Chemicals Limited (CFCL) partnered and launched a Uttam Superrhiza, which is a advanced mycorrhizal biofertilizer product. Hence, such products can help in increasing the market growth.
Market Geographical Share
Presence of Agricultural Land and Government Initiatives
The Asia-Pacific region has shown a maximum share in the global biofertilizers market, as the demand for crop productivity and government support is increasing, farmers in this region are highly adopting these biofertilizers as they enhance nutrient availability and nutrient uptake by plants. Hence, such factors can help in increasing the market growth.
Furthermore, the region has the presence of vast agricultural lands, for instance, according to the Department of Agricultural, Fisheries, and Forestry report of 2023, Australia has 427 million hectares, which is around 55% agricultural land in use. Hence, such a high presence of agricultural land can help in increasing the adoption rate of biofertilizers.
Additionally, the government in this region has provided some schemes and programs in order to encourage the use of biofertilizers, for instance, the government of India has provided the National Mission on Oilseeds and Oil Palm (NMOOP), which provides financial assistance of 50% subsidy to the tune of Rs. 300/- per hectare for different components including bio-fertilizers, supply of Rhizobium culture/Phosphate Solubilizing Bacteria (PSB)/ Zinc Solubilizing Bacteria(ZSB)/ Azotobacter/ Mycorrhiza and vermicompost.
Biofertilizers Market Companies
The major global players in the market include Katyani Organics, Peptech Biosciences Ltd., Novozymes, UPL, Chr. Hansen Holding A/S, Lallemand Inc., IPL Biologicals, Gujarat State Fertilizers & Chemicals Limited, BioWorks, Inc., and T.Stanes and Company Limited.
COVID-19 Impact Analysis
The sudden outburst of coronavirus has affected numerous industries including the COVID-19 pandemic has had a significant impact on the global biofertilizers market. The COVID-19 pandemic has disrupted supply chains globally, leading to shortages of raw materials and delays in transportation; this has had an impact on the production and distribution of biofertilizers, resulting in reduced availability and increased prices.
Key Developments
- In September 2022, Corteva, Inc. acquired Symborg, an expert in microbiological technologies based in Murcia, Spain. This acquisition is to accelerate the development of a best-in-class biological portfolio.
Why Purchase the Report?
- To visualize the global biofertilizer microorganisms, type, form, distribution channel, crop type, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of biofertilizer market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global biofertilizer market report would provide approximately 85 tables, 95 figures, and 194 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
