The global biofertilizers market is anticipated to grow at a significant CAGR during the forecast period. The major factor that is expected to boost the market includes the increasing usage of microbes in biofertilizers, which proves the potential for sustainable farming methods and food safety. Moreover, the increasing concern with respect to food safety is another factor that is anticipated to propel the growth of the market. Moreover, rising prices of synthetic fertilizers globally backed with consumers’ response toward rising prices for synthetically cultivated food products are projected to remain a key factor boosting the consumption of biofertilizers in the coming years. With rapidly rising global population, food scarcity remains a critical issue for governments around the globe. This has led to innovations in terms of product development in bio-based fertilizer sector and promotion of environment-friendly agricultural solutions to the major agrarian economies. This, in turn, is anticipated to augment the demand for biofertilizers for a large number of crop types during the forecast period.
A biofertilizer is a substance which contains living micro-organisms which, when applied to seeds, plant surfaces, or soil, colonize the rhizosphere or the interior of the plant and promotes growth by increasing the supply or availability of primary nutrients to the host plant. The use of various biofertilizers depending on the soil and crop type promotes healthy development of plants without any adverse effect on human health as well as on the environment, which in turn is expected to augment the growth of the market during the forecast period. Apart from nitrogen-fixing biofertilizers and phosphate solubilizing products, which are the two majorly demanded products globally, multinational companies working in the spectrum are also focusing on mass commercializing potassium mobilizing biofertilizers, zinc solubilizing products, and NPK consortia liquid products, which is a major growth factor for the market. Silicate bacteria are among the most common potassium solubilizing bacteria, which includes Bacillus glucanolyticus, B. mucilaginous, B. circulans, and B. edaphicus.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2023-2031
Segment Covered-
- By Product
- By Application
- By Crop Type
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Novozymes A/S, Lallemand Inc., and Agrinos AS, among others.
Biofertilizers Market Report by Segment
By Product
- Nitrogen Fixing
- Phosphate Solubilizing
By Application
- Seed Treatment
- Soil Treatment
By Crop Type
- Cereals and Grains
- Pulses and Oilseeds
- Plantation Crops
- Fruits and Vegetables
- Others
A full Report of Biofertilizers Market is Available @ https://www.omrglobal.com/industry-reports/biofertilizers-market-overview
Biofertilizers Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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