Biofertilizer Market Size is projected to reach USD 3.75 Billion by 2030, growing at a CAGR of 12.80%: Straits Research

The global biofertilizer market size is valued at USD 1.43 billion in 2021, which is expected to reach USD 3.75 billion, growing at a CAGR of 12.80% during the forecast period. North America will command the biofertilizer market with the largest share during the forecast period.

 | Source: Straits Research Straits Research

New York, United States, July 11, 2023 (GLOBE NEWSWIRE) -- Biofertilizers are compounds containing microorganisms that foster plant and tree development by increasing the supply of vital nutrients to plants. It comprises living organisms such as mycorrhizal fungi, blue-green algae, and bacteria. A biofertilizer is a chemical-containing microbe that invades the rhizosphere or plant interior when applied to seeds, plant surfaces, or soil and promotes plant growth by regulating the amount or presence of primary nutrients in the plant host. Biofertilizers deliver nutrients to plants through natural processes such as nitrogen fixation, phosphorus solubilization, and the production of growth-promoting chemicals. They help restore the soil's organic nutrient cycle and boost its organic matter content. Through the use of biofertilizers, it is possible to cultivate healthy plants while simultaneously improving the health and sustainability of the soil. Biofertilizers will likely reduce the demand for chemical fertilizers and pesticides, but they cannot fully substitute for them.


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The primary market drivers are:

  • The increased organic farming practices.
  • The need to improve soil organic matter.
  • A clear regulatory framework.

In addition, the agricultural sector is anticipated to increase its use of biofertilizers due to the introduction of integrated pest management programs that encourage their application. In the coming years, the growth of the global biofertilizers market is projected to be positively influenced by the increased acceptance and adoption of products by farmers in both developing and developed economies. In addition, increasing soil and water pollution due to the excessive use of chemical fertilizers drives the demand for organic fertilizers during the forecast period. Despite the low acceptance of biofertilizers, key factors such as the increase in demand for food products and per capita income have created enormous opportunities for the biofertilizers market in Asia-Pacific and Africa. Despite this, market leaders in biofertilizers face several challenges, including the short shelf life of biofertilizers, storage issues, and a high risk of contamination.

Growth in Organic Food Industry and Regulatory Initiative to Drive the Global Biofertilizer Market
Due to the growth of the organic food industry, the biofertilizers market will develop during the forecast period. In addition, the growing initiative taken by government agencies and the growing awareness of the need for sustainable agricultural practices is anticipated to be the most substantial factors driving the growth of the biofertilizers market over the coming years. Due to rising health concerns, consumers are becoming increasingly concerned about food safety, rising residue levels in food, and environmental concerns. This awareness has influenced their preference for chemical-free food items. Consequently, major supermarket chains such as Walmart and Cosco are expanding their organic food offerings. To cater to health-conscious consumers, the restaurant industry in many developed countries now features organic food menus. As biofertilizers and green manure are requirements for organic farming, the growth of the organic food industry is driving the demand for these products. In addition, since the pandemic outbreak, people have become more aware of healthy organic food products, which has contributed to the expansion of the market for biological inputs such as biofertilizers. Consequently, the demand for biofertilizers on the market will increase.

In addition, governments worldwide are promoting several plans and initiatives in the agricultural sector and among farmers to increase the use of bio-based fertilizers. Moreover, numerous governments have enacted comprehensive economic recovery plans, including tax flexibility, liquidity, and agricultural subsidy; these policies are anticipated to impact the biofertilizer market's growth positively.

Growing Opportunities in Africa and Asia-Pacific regions to Create Global Biofertilizer Market Opportunities
Asia-Pacific and Africa are among the regions with the highest fertilizer consumption. Population growth, particularly in Asia-Pacific, has increased the demand for food, which has led to an increase in fertilizer consumption. However, the most pressing problems in this region are pollution, soil contamination, and their harmful effects on humans. Governments in these areas emphasize using environmentally friendly fertilizers such as biofertilizers and organic manure to combat the harmful effects of chemical fertilizers. Consequently, it is anticipated that these regions will provide growth opportunities for the biofertilizer market during the forecast period.


Report Scope

Report MetricDetails
Market Size by 2030USD 3.75 billion
Market Size in 2021USD 1.43 billion
CAGR12.80%
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product, By Application, By Crop Type
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsNovozymes A/S , Vegalab SA , UPL Limited , Chr. Hansen Holding A/S , Kiwa Bio-Tech , Lallemand Inc., Rizobacter Argentina S.A. , T. Stanes & Company Limited , IPL Biologicals Limited , Nutramax Laboratories Inc. , Symborg
Key Market OpportunitiesGrowing Opportunities in Africa and Asia-Pacific Regions to Boost Market Opportunities
Key Market DriversGrowth in Organic Food Industry and Regulatory Initiative to Boost Market Progress

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Regional Insights
North America will command the biofertilizer market with the largest share during the forecast period. This is due to the rising demand for organic products and farmers' increased use of biofertilizers during the forecast period. In addition, the increased adoption of advanced irrigation systems, such as drip and sprinkler irrigation, for fertigation by farmers in numerous North American nations is driving the growth of the biofertilizers market in the region. The combination of a stringent regulatory environment and a growing preference for biofertilizer market products has resulted in the rapid expansion of the market. In addition, rising concerns regarding the excessive use of chemical fertilizers and nitrate emissions are anticipated to be among the most influential factors driving the biofertilizers market in North America over the forecast period.

The United States Department of Agriculture launched the National Organic Program in 2017 to certify farmland for growers transitioning to organic agriculture. According to the Organic Trade Association, obtaining the certification enables farmers to potentially sell their products for higher prices than conventionally grown goods. These programs are anticipated to increase the use of biofertilizers, thereby expanding the market in North America. In addition, the region's major players are expanding their presence in foreign nations through various business strategies, such as mergers and acquisitions, partnerships, and introducing new products, contributing to regional growth.

Key Highlights

  • The global biofertilizer market size is expected to reach USD 3.75 billion, growing at a CAGR of 12.80% during the forecast period. 
  • Based on the product, the nitrogen-fixing segment will likely hold the largest market share during the forecast period.
  • Based on application, the seed treatment segment is most likely to grow at a significant CAGR and hold the largest share during the forecast period.
  • Based on crop type, the segment of cereals & grains is most likely to have the largest share in the market during the forecast period.
  • Based on regional analysis, North America will command the biofertilizer market with the largest share during the forecast period.

Competitive Players in the Market

  1. Novozymes A/S
  2. Vegalab SA
  3. UPL Limited
  4. Chr. Hansen Holding A/S
  5. Kiwa Bio-Tech
  6. Lallemand Inc.
  7. Rizobacter Argentina S.A.
  8. T. Stanes & Company Limited
  9. IPL Biologicals Limited
  10. Nutramax Laboratories Inc.
  11. Symborg


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Global Biofertilizer Market: Segmentation

By product 

  • Nitrogen Fixing
  • Phosphate Solubilizing

By application 

  • Seed Treatment
  • Soil Treatment

By crop type

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

By region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Raw Material Analysis
    4. Sales And Distribution Channel Analysis
    5. Trade Analysis
    6. M & A Agreements & Collabration Analysis
    7. Export Import Analysis
    8. Cost Structure Analysis
  6. ESG TRENDS
  7. GLOBAL BIOFERTILIZER MARKET SIZE ANALYSIS
    1. Global Biofertilizer Market Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
    5. U.S.
      1. By Product 
        1. Introduction
          1. Product  By Value
        2. Nitrogen Fixing
          1. By Value
        3. Phosphate Solubilizing
          1. By Value
      2. By Application 
        1. Introduction
          1. Application  By Value
        2. Seed Treatment
          1. By Value
        3. Soil Treatment
          1. By Value
      3. By Crop Type
        1. Introduction
          1. Crop Type By Value
        2. Cereals & Grains
          1. By Value
        3. Pulses & Oilseeds
          1. By Value
        4. Fruits & Vegetables
          1. By Value
        5. Others
          1. By Value
    6. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
    5. U.K.
      1. By Product 
        1. Introduction
          1. Product  By Value
        2. Nitrogen Fixing
          1. By Value
        3. Phosphate Solubilizing
          1. By Value
      2. By Application 
        1. Introduction
          1. Application  By Value
        2. Seed Treatment
          1. By Value
        3. Soil Treatment
          1. By Value
      3. By Crop Type
        1. Introduction
          1. Crop Type By Value
        2. Cereals & Grains
          1. By Value
        3. Pulses & Oilseeds
          1. By Value
        4. Fruits & Vegetables
          1. By Value
        5. Others
          1. By Value
    6. Germany
    7. France
    8. Spain
    9. Italy
    10. Russia
    11. Nordic
    12. Benelux
    13. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
    5. China
      1. By Product 
        1. Introduction
          1. Product  By Value
        2. Nitrogen Fixing
          1. By Value
        3. Phosphate Solubilizing
          1. By Value
      2. By Application 
        1. Introduction
          1. Application  By Value
        2. Seed Treatment
          1. By Value
        3. Soil Treatment
          1. By Value
      3. By Crop Type
        1. Introduction
          1. Crop Type By Value
        2. Cereals & Grains
          1. By Value
        3. Pulses & Oilseeds
          1. By Value
        4. Fruits & Vegetables
          1. By Value
        5. Others
          1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
    5. UAE
      1. By Product 
        1. Introduction
          1. Product  By Value
        2. Nitrogen Fixing
          1. By Value
        3. Phosphate Solubilizing
          1. By Value
      2. By Application 
        1. Introduction
          1. Application  By Value
        2. Seed Treatment
          1. By Value
        3. Soil Treatment
          1. By Value
      3. By Crop Type
        1. Introduction
          1. Crop Type By Value
        2. Cereals & Grains
          1. By Value
        3. Pulses & Oilseeds
          1. By Value
        4. Fruits & Vegetables
          1. By Value
        5. Others
          1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Product 
      1. Introduction
        1. Product  By Value
      2. Nitrogen Fixing
        1. By Value
      3. Phosphate Solubilizing
        1. By Value
    3. By Application 
      1. Introduction
        1. Application  By Value
      2. Seed Treatment
        1. By Value
      3. Soil Treatment
        1. By Value
    4. By Crop Type
      1. Introduction
        1. Crop Type By Value
      2. Cereals & Grains
        1. By Value
      3. Pulses & Oilseeds
        1. By Value
      4. Fruits & Vegetables
        1. By Value
      5. Others
        1. By Value
    5. Brazil
      1. By Product 
        1. Introduction
          1. Product  By Value
        2. Nitrogen Fixing
          1. By Value
        3. Phosphate Solubilizing
          1. By Value
      2. By Application 
        1. Introduction
          1. Application  By Value
        2. Seed Treatment
          1. By Value
        3. Soil Treatment
          1. By Value
      3. By Crop Type
        1. Introduction
          1. Crop Type By Value
        2. Cereals & Grains
          1. By Value
        3. Pulses & Oilseeds
          1. By Value
        4. Fruits & Vegetables
          1. By Value
        5. Others
          1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Biofertilizer Market Share By Manufacturers
    3. Biofertilizer Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Novozymes A/S 
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. Vegalab SA 
    3. UPL Limited 
    4. Chr. Hansen Holding A/S 
    5. Kiwa Bio-Tech 
    6. Lallemand Inc.
    7. Rizobacter Argentina S.A. 
    8. T. Stanes & Company Limited 
    9. IPL Biologicals Limited 
    10. Nutramax Laboratories Inc. 
    11. Symborg 
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER


Table of Content and Figure @ https://straitsresearch.com/report/biofertilizer-market/toc


Market News

In 2022, Novozymes A/S launched two products, Torque UD and Ratchet. 
In 2022, Novozymes A/S and AgroFresh form a partnership to develop biological solutions and improve post-harvest food quality.


News Media

Global Biofertilizer Market Worth USD 3.75 Billion By 2030 | CAGR of 12.80%

Global MicroGranular Fertilizer Market Grows Steadily at a CAGR of 3.80%

Rising Use of Magnesium Nitrate in the Manufacturing of Fertilizers Drives the Magnesium Nitrate Market Growth


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Potassium Liquid Fertilizer Market: Information by Nutrient Type (Sulfate of Potash, Potassium Acetate), Application (Fertigation and Foliar), Ingredient Type (Organic), Mode of Application (Starter Solution), and Regions—Forecast Till 2031

MicroGranular Fertilizer Market: Information by Type (Straight Fertilizers, Complex Fertilizers), Crop Type (Grains and Cereals, Pulses and Oilseeds), and Regions—Forecast Till 2031

Chelated Micronutrient Fertilizers Market: Information by Nutrient (Zinc, Manganese), Form (Liquid, Iron), Crop Type (Grains), Application (Soil, Foliar), and Regions—Forecast Till 2031

Precision Irrigation Systems Market: Information by Type (Sprinkler Irrigation, Drip Irrigation), Crop Type (Field Crops, Plantation Crops, Orchards, and Vineyards), and Region -Forecast till 2031

Irrigation Controller Market: Information by Product Type (Smart Controllers), Irrigation Type (Drip, Sprinkler), Application (Agriculture, Non-agriculture), and Region — Forecast till 2031


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Mot-clé

Biofertilizer Market Size Biofertilizer Market Share Biofertilizer Industry biofertilizer products microorganisms fertilizers

Hyperliens