The global biofertilizer market reached a value of US$ 2.3 Billion in 2020. Biofertilizers are made from biological waste that contains living microorganisms. Unlike chemical fertilizers, which offer direct nutrition to the plant, biofertilizers help in improving the overall soil fertility. The microorganisms present in these fertilizers decompose organic matter and breakdown complex minerals for easy absorption by plants. This process enriches the soil with nutrients, which in turn promotes healthy plant growth. Moreover, biofertilizers do not allow pathogens to grow, which helps in preventing crop diseases. The several advantages offered by biofertilizers over their chemical counterparts have led to their rapid adoption in the agriculture sector.
Although the penetration of biofertilizers is still at a nascent stage, both the developing and emerging markets are expected to provide numerous growth opportunities over the next few years. The understanding of the environmental hazards caused by the use of synthetic agrichemicals, primarily the pollution and contamination of the soil and the food chain, has pushed the demand for biological products. Apart from this, growing health concerns have also urged people to adopt organic foods and other agricultural products. Another major factor driving the sales of biofertilizers is the increasing implementation of favorable regulatory policies by various governments. Looking forward, IMARC Group expects the global biofertilizer market to exhibit strong growth during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biofertilizer market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, type, crop, microorganism, and mode of application.
Breakup by Type:
Currently, nitrogen-fixing biofertilizers, such as rhizobium, azotobacter, and azospirillum account for the majority of the market share. On the other hand, phosphate-fixing biofertilizers are expected to witness rapid growth over the next few years.
Breakup by Crop:
At present, cereals and grains represent the dominant crop segment. Biofertilizers are widely used for effective production of different cereals and grains, such as wheat, oats, and rice, as they aid in enhancing their yield under poor land conditions.
Breakup by Microorganism:
Among these, cyanobacter is the leading microorganism segment. Cyanobacter-based biofertilizers offer reduced input cost, increase the bioavailability of phosphorus, and help in nutrient cycling as well as nitrogen fixation.
Breakup by Mode of Application:
Seed treatment is the most preferred mode of application as it protects the seeds from pathogens and insects and enhances seedling establishment and early plant growth. In addition, it is more cost-effective and user-friendly as compared to the other modes.
On the geographical front, Asia Pacific is the largest market, holding the dominant market share. The growing emphasis on organic agriculture, coupled with the high population, is the primary factor driving the demand for biofertilizers in the region.
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
The global biofertilizers market size was valued at US$ 2.3 Billion in 2020.
According to the estimates by IMARC Group, the global biofertilizers market is expected to witness a CAGR of 13.7% from 2021 to 2026.
The escalating demand for organic fruits and vegetables, due to the growing concerns towards the negative health impact of chemical fertilizers, represents one of the key drivers for the global biofertilizers market.
The emergence of sustainable farming practices, along with the increasing utilization of organic agrochemicals to improve productivity and soil health, represent some of the key trends in the global biofertilizers market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units and disruption in the supply chains of biofertilizers.
On the basis of the type, the market has been bifurcated into nitrogen-fixing biofertilizers, phosphate-fixing biofertilizers, and others. Currently, nitrogen-fixing biofertilizers hold the majority of the total market share.
On the basis of the crop, the market has been divided into cereals and grains, pulses and oilseeds, fruits and vegetables, and others. Among these, cereals and grains represent the largest segment.
On the basis of the microorganism, the market has been segmented into Cyanobacter, Rhizobium, Phosphate Solubilizing Bacteria, Azotobacter, and others. At present, Cyanobacter-based biofertilizers hold the largest market share.
On the basis of the mode of application, the market has been bifurcated into seed treatment, soil treatment, and others. Currently, seed treatment exhibits a clear dominance in the market.
Region-wise, the market has been classified into Asia Pacific, North America, Europe, and others, where Asia Pacific dominates the global market.
The key companies in the global biofertilizers market are Novozymes A/S, National Fertilizers Limited, Madras Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd., Rizobacter Argentina S.A., T.Stanes & Company Limited, Camson Bio Technologies Limited, Rashtriya Chemicals & Fertilizers Ltd., Lallemand Inc., and Nutramax Laboratories, Inc.
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