Biofertilizers Market Forecasts to 2028 - Global Analysis By Crop, Product, Microorganism and By Others

According to Stratistics MRC, the Global Biofertilizers Market is accounted for $3.78 billion in 2022 and is expected to reach $8.38 billion by 2028 growing at a CAGR of 14.2% during the forecast period. Microorganisms found in biofertilizers contribute to the development of plants and forests by boosting the availability of vital plant nutrients. Biofertilizers help to increase the soil's fertility and give it a biological life of its own. These fertilizers are efficient in providing plant nutrients while enhancing soil productivity. By nitrogen-fixing, biofertilizers contribute to an improvement in crop quality because nitrogen-fixing places nitrogen in a plant's roots, protecting them from bacteria. Moreover, it supports rhizobacteria that support plant growth and preserve the soil's initial productivity. Rhizobia are a non-toxic diazotrophic bacterium that increases the soil's ability to retain water.

According to the India Brand Equity Foundation (IBEF), horticulture crop production in India was recorded at 320.48 million metric tonnes (MMT) in FY20. Additionally, India's organic food segment is estimated to reach Rs. 75,000 crore (US$ 10.73 billion) by 2025. Furthermore, the Government of India is targeting food grain production of 298 MT in 2020-2021.

Market Dynamics:

Driver:

Increasing Adoption of Organic Farming

To increase the productivity of soil compounds, biofertilizers are utilized as environmentally friendly fertilizers. Plant nutrients are employed with bioinoculants. Potash mobilization contributes to the solubilization of the intractable tricalcium phosphate or rock phosphate, improving soil stability and enhancing plant development. As a result of the use of rock phosphate, there is an increase in the use of biofertilizers in organic farming. Biofertilizers are preferable to chemical fertilizers since they are safer and contain organic ingredients like nitrogen. Consequently, it reduces the need for fertilizer by 25% to 40% while improving crop output by 15% to 25%, which boosts the market.

Restraint:

Low Shelf Life of Biofertilizers

Compared to chemical fertilizers, biofertilizers have a shorter suffering life. Compared to chemical fertilizers, biofertilizers have a lower nutrient density for plants. Yet, because they require specialized equipment, they cannot be kept in storage for a long time. Comparing bioinoculants to other fertilizers, they boost crop productive capacity less. The effectiveness of biofertilizers depends on factors that affect soil productivity, including as humidity content, pH level, and organic fertilizers, that are ineffective for treating soil. Thus, the short shelf life could limit market expansion.

Opportunity:

Increasing global population

Demand for biofertilizers is anticipated to rise in the coming years as a result of consumer reactions to rising prices for foods made synthetically. Food shortage is a serious problem for nations around the globe due to the world's population growth. This led to the development of bio-based fertiliser products and the promotion of ecologically friendly agriculture practises among the major agrarian economies of the globe. This is anticipated to enhance demand for biofertilizers over the course of the projection period across all agricultural economies.

Threat:

Lack of proper training

There are some limitations and issues that can prevent market expansion. Market restrictions are projected to include things like high fertiliser manufacturing costs as well as a lack of adequate expertise in organic farming.

Covid-19 Impact

The COVID-19 epidemic outbreak had little to no impact on the world market for biofertilizers. This is due to the widespread and substantial presence of regional producers of biofertilizers. Due to customers' heightened health consciousness during the COVID-19 period, the demand for organic food soared. As a result, production also increased, which fuelled the desire for biofertilizers in the agricultural sector. Also, during this time, a need for sustainability began to emerge, which is projected to have a favorable impact on the global market for biofertilizers during the course of the forecast period.

The cereals & grains segment is expected to be the largest during the forecast period

The cereals & grains segment is estimated to have a lucrative growth. Biofertilizers help legumes crop soils and root nodules fix atmospheric nitrogen. Rhizobium is utilised as a biofertilizer and crop stimulant to boost grain yield. Gramineous crops including rice, wheat, maize, barley, millets, and other cereals can have a connection with rhizobia without developing nodules or exhibiting disease symptoms. The consumption of biofertilizers is being encouraged by governments in many economies in response to growing worries about the degradation of soil quality brought on by the overuse of synthetic fertilisers and their potential negative impacts on human health.

The rhizobium segment is expected to have the highest CAGR during the forecast period

The rhizobium segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its vital function as the main supplier of nitrogen in the soil, rhizobium is the most prevalent form of microbe used in agriculture. Rhizobium is an excellent nitrogen-fixing bacterium that also promotes plant development and helps to solubilize inorganic phosphate. Its use is also growing, mostly because of its ability to increase agricultural productivity while lowering the demand for pricy, harmful synthetic fertilisers.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the rise in desire for organic products and the increased use of biofertilizers by normal farmers. The farmers in various emerging and developed countries and regions will increasingly use modern irrigation methods, such as drip and sprinkler irrigation, for fertigation. The market for biofertilizers has experienced substantial expansion as a result of the strict monitoring environment and rising consumer desire for biofertilizers products. Increasing worries about the overuse of chemical fertilizers or nitrate emissions are two major reasons that are anticipated to boost the market for biofertilizers in the region over the course of the forecast period.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to enormous expanses under organic farming, the rapid population and economic growth, the expansion of mechanization and irrigation infrastructure, and the presence of numerous organic operators all contribute to the growth of this regional industry. The market for biofertilizers is expanding in this area due to supporting government regulations as well as attempts by organizations to advance and grow the organics industry.

Key Players in the market

Some of the key players profiled in the Biofertilizers Market include National Fertilizer Ltd, Agri Life, Manidharma Biotech Pvt Ltd, Nutramax Laboratories Inc., Novozymes , NOMAD, Mapleton Agribiotec, GreenMax AgroTech, Microbax Limited, West Bridge Agricultural Products, Madras Fertilizers Limited, Lallemand Inc., Fertilizers USA LLC and Rizobacter Argentina S.A.

Key Developments:

In September 2021, Novozymes launched five biological solutions, including inoculants to address key challenges for North American growers and establish a new sales team to serve customers directly in the U.S. The new products contain inoculants that deal with nutritional efficiency issues, nitrogen fixation, and nodulation.

In May 2021, Rizobacter Argentina SA launched a specialty fertilizer named Microstar Bio, where biological growth boosters are combined with the fertilizers. The product contains bacillus strains incorporated in the micro granules and strengthens root growth and nutrient use efficiency.

In December 2019, NOMAD announced the development of mobile fertilizer plants for the production of biofertilizers. This plant project is set to create a mobile organic fertilizer production plant in the field.

In June 2019, Novozymes announced to continue its research and distribution partnership with Bayer, where Novozymes could form a multi-partnership with UPL and Univar Solutions to distribute its biological products due to increase crop yields and improve sustainability.

Crops Covered:

• Fruits & Vegetables
• Cereals & Grains
• Forage Crops
• Pulses & Oilseeds
• Fiber Crops
• Other Crops

Products Covered:

• Phosphate Solubilizing
• Nitrogen Fixing
• Phosphate Stabilizers
• Phosphate Fixing
• Sulphur Solubilizing
• Potassium Mobilizing
• Other Products

Microorganisms Covered:

• Microhizae
• Rhizobium
• Phosphate Solubilising bacteria
• Trichoderma
• Frateuria Aurentia
• Azotobacte
• Microhizae
• Potash Mobilizing Bacteria
• Azospirillium
• Azolla
• Cyanobacter
• Other Microorganisms

Form Types Covered:

• Liquid
• Dry
• Dispersible granule
• Pure & mixed liquid fermentations
• Pellet
• Powder
• Other Form Types

Applications Covered:

• Seedling Root Dip
• Soil Treatment
• Plant Growth
• Seed Treatment
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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