Market Overview:

The global biofertilizer market reached a value of US$ 2.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.31 Billion by 2027, exhibiting at a CAGR of 14.66% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biofertilizer market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type, crop, microorganism and mode of application.

Breakup by Type:

• Nitrogen-fixing biofertilizers
• Phosphate-fixing biofertilizers
• Others

Currently, nitrogen-fixing biofertilizers, such as rhizobium, azotobacter, and azospirillum account for 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:

• Cereals and grains
• Pulses and oilseeds
• Fruits and vegetables
• Others

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:

• Cyanobacter
• Rhizobium
• Phosphate Solubilizing Bacteria
• Azotobacter
• Others

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
• Soil treatment
• Others

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.

Regional Insights:

• Asia Pacific
• North America
• Europe
• Others

On the geographical front, North America 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.

Competitive Landscape:

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:

• 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.
• Nutramax Laboratories, Inc.
   

Report Coverage: