The global biofertilizer market was worth US$ 2.0 Billion in 2019. 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 market to exhibit strong growth during 2020-2025.
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 2020-2025. 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 biofertilizer market was worth around US$ 2.0 Billion in 2019.
According to the estimates by IMARC Group, the global biofertilizer market will exhibit strong growth during the next five years.
The escalating demand for organic fruits and vegetables on account of the changing lifestyles and inflating disposable incomes of individuals worldwide are encouraging organic farming practices and facilitating the uptake of biofertilizers.
The growing environmental consciousness, increasing focus on sustainable development and favorable government support are some of the significant trends in the global fertilizer market.
With the sudden outbreak of the coronavirus disease (COVID-19), governing agencies of numerous countries have imposed lockdowns and are generating awareness about social distancing to prevent the spread of the pandemic. As a result, disruptions in the supply chain, along with the temporary halt of operations at manufacturing units, have negatively impacted the market.
On the basis of the type, the market has been segmented into nitrogen-fixing, phosphate-fixing and other biofertilizers.
Based on the crop, the market has been segregated into cereals and grains, pulses and oilseeds, fruits and vegetables, and others.
The market has been analyzed on the basis of the microorganism into Cyanobacter, Rhizobium, Phosphate Solubilizing Bacteria, Zotobacter and others.
On the basis of the mode of application, the market has been segregated into seed treatment, soil treatment and others.
On the geographical front, the market has been classified into Asia Pacific, North America, Europe and others.
Leading industry players are Novozymes A/S, National Fertilizers Limited, Madras Fertilizers Limited, Gujarat State Fertilizers & Chemicals Limited, Rizobacter Argentina SA, T.Stanes & Co. Ltd., Camson Bio Technologies Limited, Rashtriya Chemicals and Fertilizers Limited, LALLEMAND Inc., and Nutramax Laboratories, Inc.
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