The latest report by IMARC Group, titled “India Biofertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India biofertilizer market is expected to exhibit a CAGR of 15.89% during 2022-2027. Biofertilizers refer to natural fertilizers made using biological waste materials. Some commonly used biofertilizers include rhizobium, azotobacter, azospirillum, and blue-green algae (BGA). They contain living microbes that assist in decomposing organic matter and mineralizing the soil by breaking down complex minerals and facilitating easy absorption by plants. Unlike chemical fertilizers that provide direct nutrition to plants, biofertilizers help enhance the overall soil fertility and enrich the soil with nutrients to promote healthy plant growth. They prevent the growth of pathogens, thereby eliminating crop diseases and stimulating the growth of seeds, plants, and soil by supplying nitrogen (N), phosphorus (P), and other nutrients. In recent years, biofertilizers have gained immense traction in India due to their environment-friendliness, sustainability, and cost-effectiveness.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Biofertilizer Market Trends:
Chemical fertilizers can enter the food chain, damage the fertility of the soil, and spread hazardous diseases. As a result, the surging environmental concerns and the growing awareness regarding the harmful effects of chemical fertilizers represent the primary factors escalating the demand for biofertilizers in India. Besides this, the emerging trend of organic farming is another major growth-inducing factor. Additionally, with the escalating food demand and expanding population across the country, the Government of India (GOI) is focusing on improving the food cultivation techniques. In line with this, several favorable initiatives undertaken by governing agencies to educate farmers about the benefits of sustainable farming practices and organic agrochemicals to enhance overall yield have positively influenced the market growth. Furthermore, the shifting inclination toward organic food products and chemical-free produce due to the growing health consciousness among consumers has augmented the demand for biofertilizers. Other factors, including the significant growth in the agriculture sector, shifting lifestyle preferences, inflating consumer expenditure capacities, increasing adoption of modern farming methods, technological advancements, and product innovations, are also providing a positive thrust to the market growth.
- Based on the type, the market has been divided into nitrogen-fixing, phosphate-fixing, and other biofertilizers.
- On the basis of the crop, the market has been classified into cereals and grains, pulses and oilseeds, fruits and vegetables, and others.
- The market has been segregated based on the microorganism into cyanobacter, rhizobium, phosphate solubilizing bacteria, azotobacter, and others.
- Based on the mode of application, the market has been categorized into seed, soil, and other treatment.
- Region-wise, the market has been segmented into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has also been analyzed, along with the detailed profiles of the key players operating in the industry.
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