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The global biofertilizer market size is estimated to be worth $4.1 billion in 2023, growing at CAGR of 10.7% during the forecast period from 2023 to 2035
The excessive application of chemical fertilizers in agriculture is costly along with the fact that it has substantial detrimental effects on the physio-chemical properties of soils. As a result, in recent years, several organic fertilizers have been introduced as natural stimulants for plant growth and development. Bio-fertilizers are environmentally friendly and represent one of the most effective modern tools in agriculture. They play a vital role in ensuring the proper supply of nutrients to the plants, regulating their growth and other physiological processes. Moreover, biofertilizers are utilized to enhance soil fertility and quality, providing an economically viable and ecologically sustainable approach to augment nutrient supply to crops. Biofertilizers also improve the accessibility of nutrients to crop plants through various mechanisms, such as nitrogen fixation from the atmosphere or the dissolution of phosphorus present in the soil. Additionally, they contribute to the overall well-being of plants and soil, ultimately leading to an increase in crop yields.
The primary factors driving the global market for biofertilizers' growth include the increasing adoption of seed treatment solutions and the rise of integrated pest management (IPM) for crop cultivation. Seed treatment, which involves the application of biofertilizers to seeds, forms a chemical barrier, protecting the seed and enhancing plant vigor. This approach is gaining traction as cultivators increasingly adopt biological seed treatment solutions to improve crop productivity. Additionally, IPM, which combines the use of agricultural biologicals with chemical pesticides, is playing a pivotal role in propelling the agricultural biologicals market. It helps improve pest control and mitigate the chance of developing agrochemical-resistant pests, leading to its increased adoption for sustainable crop cultivation.
Market restraints refer to the factors or conditions that can hinder or impede the growth and progress of a market. In the case of the biofertilizers market, some of the restraints include the higher cost to productivity ratio, inconsistent product performance, and limited information on product efficacy. The application of biofertilizers is a complex process that incurs substantial costs. Moreover, the effectiveness of these products is evidently influenced by environmental factors, affecting the overall crop yield. Owing to this, the cost to productivity ratio in using biofertilizers is relatively higher than the chemical alternative.
Furthermore, biofertilizers primarily interact with the plant’s natural surroundings to induce effect. Therefore, the performance of biological crop solutions can be impacted by multiple environmental factors, including temperature, humidity, and soil type, which may lead to inconsistent product performance.
The biofertilizers market presents significant opportunities driven by the increasing demand for organic food production, environmental concerns, rising global population, decreasing agricultural landmass, extensive crop losses owing to pests, and regulatory constraints on conventional agrochemicals. The adoption of organic food products across the world has led to a significant rise in the demand for agricultural biologicals. The use of conventional agrochemicals has led to soil degradation and compromised crop quality, which has increased the recognition of sustainable agriculture as a promising solution for addressing these challenges. Therefore, the need for reliable and efficient production of agricultural biologicals is anticipated to grow.
The global biofertilizers market size and forecast on the basis of source of product (microbes, plant extracts and other sources). On the basis of mode of application (foliar sprays, seed treatments, soil treatments and other application methods). On the basis of type of crop treated (cereals and pulses, fruits and nuts, green fodder, vegetables and tubers, oilseeds, industrial crops, textile crops and others). By geographical regions, the market is analyzed across North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America.
Based on mode of applications, the biofertilizers market is analyzed across foliar sprays, seed treatments, soil treatments and other application methods. The Foliar spray method holds the largest market share globally given to its numerous advantages, including quicker nutrient absorption through leaves, increased cellular activity, and enhanced nutrient uptake. The soil treatment segment also contributes significantly to market revenue, employing various techniques like physical, mechanical, chemical, and biological treatments. Some of the major seed treatment application techniques include seed dressing, seed pelleting, and seed coating, which offer cost-effectiveness and efficiency. Seed treatment is expected to be the fastest-growing application of the product over the forecast period.
Based on region, the biofertilizers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Presently, the biofertilizers market is dominated by North America and Europe, which together account for almost 60% of the market share. The North American region has seen a surge in demand for biologic crop solutions, while the European Union has implemented the Farm to Fork strategy to reduce the use of chemical pesticides and fertilizers by substituting them with agricultural biologicals. In the coming years, the Asia Pacific region is expected to experience significant growth in the biofertilizers market attributed to the increasing demand for organic food products.
Key bio fertilizer manufacturers that are engaged in biofertilizers market are (in alphabetical order) AMVAC, Certis Biologicals, FBSciences, Grow Indigo, Novozymes, Nutri-Tech Solutions, ProFarm, Stoller, UPL and Verdesian Life Sciences. This biofertilizers market reports includes an easily searchable excel database of all the bio fertilizer manufacturers worldwide.
|by Source of Product
|by Mode of Application
|by Type of Crop Treated
|Key Geographical Regions
|Key Market Players
There has been recent activity in the biofertilizer industry and some of the key developments have been mentioned below: