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MA20116590 |
Pages: 250 |
Sep 2023 |
Biofertilizers Overview
Fertilizers containing microorganisms like bacteria, fungi or algae which are beneficial to plant growth are called biofertilizers. The bacteria present in the fertilizers increase the availability of nutrients, improve fertility of soil and promote plant growth. Biofertilizers can be applied on their own or with chemical fertilizers to increase nutrient availability and plant development.
A viable and acceptable environmental alternative to synthetic fertilizers is biofertilizers. Depending on the microorganisms they contain, biofertilizers come in a variety of forms, including those that promote plant growth, fix nitrogen, mobilize phosphorus, mobilize potash, and fix nitrogen.
Global Biofertilizers Market Analysis
The global biofertilizers market size was $2,070.5 million in 2022 and is predicted to grow with a CAGR of 12.3%, by generating a revenue of $6,572.6 million by 2032.
COVID-19 Impact on Global Biofertilizers Market
Lockdowns, travel bans, and transportation issues caused the biofertilizers business to experience supply chain interruptions. This affected the availability and delivery schedules by causing delays in the distribution of biofertilizer products and the acquisition of raw materials. The pandemic brought into limelight sustainable farming methods, food security, and environmental sustainability. As a result, organic farming was given more attention, and synthetic fertilizers and other chemical inputs were used less frequently. The market for biofertilizers benefited from the movement in consumer and industrial attitudes towards sustainable agriculture.
The pandemic has raised awareness of the significance of environmentally sound farming methods, food security, and sustainable agricultural practices. Both consumers and farmers are switching to organic farming practices and using fewer chemical inputs. Given their importance to sustainable agriculture, biofertilizers are anticipated to see an increase in demand in the years following COVID-19. Consumer tastes for healthier and more environmentally friendly food options have changed as a result of the pandemic. This shift in consumer tastes would probably favor biofertilizers, which support organic farming and enhance soil health, thus propelling market expansion.
Growing Demand for Organic Farming to Drive the Market Growth
Due to growing worries about food safety, environmental sustainability, and customer preferences for healthy products, there is a shift towards organic and sustainable agriculture practices on a global scale. Biofertilizers are essential in organic farming because they give plants nutrition via natural processes rather than synthetic chemicals. Globally, governments are enacting laws and policies to encourage sustainable agriculture and lessen the usage of synthetic fertilizers. To promote the use of biofertilizers, many nations provide subsidies, grants, tax incentives, and certification programs. The need for biofertilizers is fueled by these encouraging government policies, which also foster a favorable market climate. By increasing microbial activity and nutrient availability in the soil, biofertilizers help to improve soil health and fertility. They support soil structure maintenance, decrease soil erosion, and boost water holding capacity. Sustainable farming practices use biofertilizers because of the advantages they have for the environment, including lowering greenhouse gas emissions and reducing water pollution.
Limited Awareness and Knowledge of Biofertilizers Market to Restrain Market Growth
The lack of awareness and information among farmers and agricultural stakeholders is one of the main barriers to the market for biofertilizers. The advantages and effective application of biofertilizers are still mostly unknown to farmers. Biofertilizer manufacture and formulation may require specialized equipment, facilities, and knowledge, which raises the cost of production. Farmers may need to make investments in infrastructure and technology to enable the application of biofertilizers. To ensure precise and targeted application of biofertilizers, for instance, precision agricultural technology may be required. The broad use of biofertilizers may be hampered by certain regions' limited access to such infrastructure and technology.
Increasing Demand for Sustainable Agriculture to Drive Excellent Opportunities
A significant opportunity for biofertilizers is the rising global demand for environmentally friendly and sustainable agriculture practices. This rising need for environmentally friendly farming opens a promising market for biofertilizers. Governments all across the world are enacting laws and policies to encourage sustainable agriculture and lessen the usage of synthetic fertilizers. Many governments offer incentives, assistance programs, and subsidies to farmers who use biofertilizers. These encouraging actions foster a positive business climate and fuel the expansion of the biofertilizers sector.
The global market for organic food items is expanding. Biofertilizers are a crucial part of organic farming because it mainly relies on natural inputs and environmentally friendly methods. Since they are made from natural sources and support soil health and nutrient balance, biofertilizers are appropriate for use in organic farming systems. The market for biofertilizers has a sizable opportunity due to the rise of organic farming. Biofertilizer technologies have improved formulations, production procedures, and application techniques as a consequence of ongoing research and development. Farmers now have more options because of developments like carrier-based biofertilizers, microbial consortia, and biofertilizers with higher nutrient-release capacities. These developments expand available options and boost the potency of biofertilizers, spurring market expansion.
Global Biofertilizers Market Share, by Product, 2022
The nitrogen fixing sub-segment accounted for the highest share in 2022. The availability of nitrogen, a critical nutrient for plant growth, directly affects crop yield. The utilization of natural inputs and environmental care are stressed in organic farming methods, which are very compatible with nitrogen-fixing biofertilizers. The use of nitrogen-fixing biofertilizers is predicted to rise along with the demand for organic and sustainably produced grains and cereals. These nodules' nitrogen-fixing bacteria convert atmospheric nitrogen into a form that plants can use. This increases the plants' ability to absorb and use nutrients, as well as the availability of nitrogen. By switching to nitrogen-fixing biofertilizers from synthetic nitrogen fertilizers, farmers can save money, thereby minimizing input expenses. Additionally, the use of nitrogen-fixing biofertilizers can increase crop output and quality, which can boost farm profitability.
Global Biofertilizers Market Share, by Application, 2022
The seed treatment sub-segment accounted for the highest market size in 2022. Seed germination rates and seedling establishment can be considerably increased by treating seeds with biofertilizers. The bacteria in biofertilizers colonize the seed's surface to encourage root growth and nutrient uptake. This increases the likelihood of successful seed germination and establishment, thus helping seeds withstand environmental challenges like drought or poor soil conditions. Biofertilizers, used in seed treatment, provide vital nutrients to young plants which they need throughout their early growth phases. Biofertilizers that can boost nutrient availability and uptake include mycorrhizal fungi, nitrogen-fixing bacteria, and bacteria that solubilize phosphates. These beneficial microorganisms facilitate nutrient uptake for young plants, encouraging healthier and more vigorous growth. Some biofertilizers used in seed treatment aid in thwarting the spread of pests and illnesses that affect seeds and the soil. The prevalence of illnesses in seedlings is decreased by specific microorganisms found in biofertilizers that create antimicrobial chemicals or outcompete dangerous pathogens. Biofertilizers can also encourage the development of advantageous bacteria that naturally stifle pests, reducing the need for chemical pesticides.
Global Biofertilizers Market Share, by Crop Type, 2022
The cereals & grains sector accounted for the highest market size in 2022. For healthy development, cereal and grain production requires a sizable amount of biofertilizers. Studies carried out all over the world revealed that Azotobacter inoculation helped reduce crops' need for nitrogen while promoting high development and growth in cereal and grain crops. Additionally, phosphate solubilizing bacteria and Azotobacter inoculation have been proven to be extremely effective biofertilizers in terms of crop output for the healthy development of wheat. Biofertilizers help the cereals and grains industry adopt sustainable agriculture practices by lowering nitrogen losses and enhancing nutrient utilization.
Global Biofertilizers Market Share, by Region, 2022
The largest market for biofertilizers is in the North America region. Governments in various countries of North America are supporting the use of biofertilizers and encouraging sustainable agricultural methods. Farmers that use organic and sustainable agricultural practices can receive incentives, subsidies, and technical support from a number of federal and state-level programs. These programs promote the use of biofertilizers and foster a favorable climate for commercial expansion. In North America, there have been substantial improvements in the creation and use of biofertilizer technologies. The development of effective and economical biofertilizer formulations that enable tailored nutrient delivery to crops is being funded by researchers and businesses. In North America, there has been a concentrated effort to train farmers in the use of biofertilizers and to inform farmers about their advantages. The region's adoption of biofertilizers is mostly fueled by the awareness-raising and information-dissemination efforts of extension agencies, agricultural colleges, and industry associations. The efficacy and efficiency of biofertilizers have increased as a result of ongoing technological developments. The market for biofertilizers has expanded across North America thanks to novel formulations, improved strains of helpful microorganisms, and improved production methods.
Competitive Scenario in the Global Biofertilizers Market
Product development and geographic expansion are major forces functioning in the highly competitive global biofertilizers market. A new specialty fertilizer called Microstar Bio, which combines biologicals and fertilizers, was introduced by Rizobacter Argentina SA. The product aids root development and efficient nutrient usage by incorporating bacillus strains into the micro granules.
Some of the leading biofertilizers market players are CBF China Biofertilizers, Novozymes A/S, AgriLife, Mapleton Agri Biotec, Biomax, Lallemand Inc., Rizobacter Argentina SA, Symborg S.L., National Fertilizers Ltd., Antibiotice S.A.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Application |
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| Segmentation by Crop type |
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| Key Companies Profiled |
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