Global Biofertilizers market is expected to reach USD 7.82 Billion by 2033, at a CAGR of 14.50% from 2024 to 2033. The market is being driven by an increase in organic farming practices, the need to improve soil organic matter, and a favorable regulatory structure. In addition, the agriculture sector is likely to see increased usage of biofertilizers because of the introduction of integrated pest control programs that promote the use of biofertilizers. Biofertilizers can increase the productivity of the agriculture sector. This can meet the growing demand for food quickly and without chemicals. It also does not harm consumers' health. The government also promotes sustainable farming and encourages the use of Biofertilizers.

Market Overview:

Chemical fertilizers have helped farmers raise crop yield to meet rising demand throughout the years. Overuse of these fertilizers, on the other hand, is hazardous since it pollutes the air and water and depletes the soil's nutrients. As a result, it is now necessary to transition to organic farming, which includes the use of 'Biofertilizers.' Biofertilizers are substances that contain the living or latent cells of microorganisms. By colonizing the rhizosphere of the plant, biofertilizers boost the nutrients of host plants whether applied to their seeds, plant surface, or soil. When compared to chemical fertilizers, biofertilizers are more cost-effective. Biofertilizers are microbe-containing substances that aid in the promotion of plant and tree growth by enhancing the delivery of necessary nutrients to the plants. Mycorrhizal fungi, blue-green algae, and bacteria are among the living organisms found in it. Mycorrhizal fungi prefer to extract minerals from organic matter for the plant, whereas cyanobacteria are known for their ability to fix nitrogen. Biofertilizers supply nutrients to plants through natural processes such as nitrogen fixation, phosphorus solubilization, and the synthesis of growth-promoting substances. Biofertilizers contain microorganisms that restore the soil's natural nutrient cycle and increase soil organic matter. Healthy plants can be developed with the application of biofertilizers while also improving the soil's sustainability and health.  Biofertilizers maintain and improve the water retention property of the soil and its structure. This enables crops to withstand changes in the climate and helps maintain productivity in the agriculture sector. To promote the use of Biofertilizers, the government gives tax exemptions and subsidies to farmers and also makes Biofertilizers available at cheap prices so that every category of farmer can buy them.

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Market Dynamics:

Drivers

• Increasing Organic Farm Land

Organic product demand is rising, due to improved incomes and better farming practices that boost organic yields. As a result of the growing demand for organic food around the world, the amount of land dedicated to organic farming has expanded. According to FiBL data, the area under organic farming in the world expanded from 58, 090.5 thousand hectares in 2016 to 72,285.6 thousand hectares in 2019. Increased organic agricultural practices resulted in better soil fertility, as well as widespread use of organic products such as biofertilizers. This has spurred an increase in demand for biofertilizers, which are organic and aid in maintaining ecological balance.

Restraints:

• Lack of proper training

There are a few constraints and problems that could impede market expansion. Market limitations are anticipated to include factors such as expensive fertiliser production costs and a lack of proper organic farming training.

Opportunities:

• Increasing global population

Synthetic fertilizer prices are growing. Consumers' responses to increased prices for synthetically produced food products are expected to remain an important factor in increasing biofertilizer demand in the future years. With the world's population continually increasing, food shortage is a major concern for governments all over the world. This has resulted in product development in the bio-based fertilizer sector as well as promotion of environmentally friendly agriculture solutions to the world's major agrarian economies. Over the forecast period, this is expected to increase demand for biofertilizers in all agricultural economies.

Challenges:

• COVID-19 impact

There has been a supply chain disruption because of the COVID-19 pandemic, causing problems in the agricultural sector such as labour shortages, transportation barriers, market access restrictions, and a lack of inventories in some regions, thus challenging the growth of the biofertilizers market.

Segmentation analysis:

The global biofertilizers market has been segmented based on product, application, crop type and regions.

• The product segment is divided into nitrogen fixing, phosphate solubilizing, and others. The nitrogen fixing biofertilizers segment dominated the market with a market share of around 55.4% in 2023. This high percentage is due to the global correction of heavily contaminated water and soil reserves caused by decades of synthetic fertilizer use. Plant growth necessitates a high phosphorus content in the soil, as well as the presence of fixed nitrogen and numerous other important minerals, all of which are met by using biobased fertilizers. Also, depending on the crop and soil type, the application of various biofertilizers promotes healthy plant development without causing harm to human health or the environment.
• The application segment is divided into soil treatment and seed treatment. The seed treatment segment led the market with a market share of 66.2% in 2023. The advantages of induced nutritional values in the seeds are a primary driving force. Over the last few years, the use of synthetic fertilizers and a variety of other crop care chemicals like insecticides and pesticides has resulted in a significant deterioration in soil quality throughout all major agrarian countries. But several governments have imposed agricultural sector regulations across all developed and developing economies, considering the environmental risks associated with the overuse of chemical products in farming, which is expected to reflect a growth trend for biofertilizers in different seed and soil applications all around world.
• The crop type segment is divided into cereals & grains, fruits & vegetables, oilseeds & pulses, and others. The cereals & grains segment led the market with a market share of 60.1% in 2023. For proper development, cereals and grains require a significant amount of biofertilizer. Studies conducted around the world revealed that Azotobacter inoculation resulted in increased development and growth in cereal and grain crops, reducing nitrogen requirements. Furthermore, phosphate solubilizing bacteria and Azoteobacter inoculation showed to be highly effective biofertilizers in terms of crop yield for the healthy development of wheat. When these are used for cereal and grain production, they produce a lot of vegetation and a lot of photosynthesis.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North region emerged as the largest market for the global Biofertilizers market with a 32.2% share of the market revenue in 2023.

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• According to The World of Organic Agriculture, organic farming accounted for roughly 0.8 percent of total agricultural land in North America in 2017, with that figure predicted to rise to around 5% by the end of 2020. Government intervention in farming operations in the region has resulted in significant changes in agricultural patterns and procedures across the United States and Canada. Over 19,017 farming villages in the region practice organic farming to ensure long-term viability, owing to stringent rules.
• Over the forecast period, the Asia Pacific region is predicted to grow at the highest CAGR. The Asia Pacific region serves as a hub for the majority of agrarian economies, including India, Thailand, Japan, Malaysia, South Korea, the Philippines, and others, as they move to more sustainable agriculture.

Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global Biofertilizers industry.

Givaudan and Novozymes announced a research partnership in January 2020 to develop synergistic novel ingredients and technologies for customers. The two companies will collaborate on the research and development of innovative sustainable biofertilizer solutions.

List of Key Market Players:

• AgriLife
• CBF China Biofertilizers
• Fertilizers USA LLC
• Lallemand Inc.
• Novozymes A/S
• Symborg SL

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm

Report Description:

• Global Biofertilizers market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2023 is considered as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global Biofertilizers market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Biofertilizers market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of Biofertilizers based on offering, deployment mode, application area, and regions. which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Biofertilizers market. This offers vital and in-depth insights to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global Biofertilizers market and a comparative assessment based on their product, crop type, application, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
• Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global Biofertilizers market) is covered to comprehend the adoption rate and evaluate the market size.