Biofertilizers Market

Biofertilizers Market was valued at USD 2.1 billion in 2021 and is forecast to touch USD 5.0 billion in 2029, and the market is expected to grow at a CAGR of 11.5% from 2022-2029.

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Key Drivers

The growing awareness for biofertilizers among the farmers and increasing amount of organic farmland are the significant factors that are driving the growth of the biofertilizers market. Biofertilizers offer several benefits as compared to fertilizers as they help in sustaining the quality of soil while enhancing the growth of the plants. The awareness about the benefits of biofertilizers is being increasingly spread among the farmers, which has surged its adoption. The increase in the rate of population is further raising the demand for food products. Biofertilizers improve the productivity of the crops and increase the yield per hectare, which enables the supplier to meet the demand. This feature is expected to increase the growth of the biofertilizers market.

The emergence of COVID-19 has affected every business up to an extent. It has severely impacted the supply chain of several businesses as nobody felt safe in buying any products. However, the market is expected to bounce back as the biofertilizer suppliers are taking mandatory precautions related to the coronavirus. On the contrary, the growing awareness among people regarding their health has positively impacted the growth of the biofertilizers market in this pandemic. People have become more health-conscious and aware about chemical-free food products. This factor has influenced the farmers to use biofertilizers, thus increasing the growth of the global biofertilizers market.

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Type – Segment Analysis

Based on the type, the market is segmented into nitrogen-fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers, potash solubilizing & mobilizing biofertilizers, and others. The nitrogen-fixing biofertilizers segment is anticipated to witness a faster CAGR over the forecast period. Nitrogen-fixing biofertilizers, with the help of farm manure, increase the presence of microbes in the soil to enhance the efficiency of crops. They purify the tainted soil to bring it back to its organic nature, which helps in increasing the crop yield. High phosphorus content in the soil is excellent for the growth of plants, but nitrogen is needed in a fixed amount, which is served by nitrogen-fixing biofertilizers. These features play a significant role in driving the growth of this segment.

Form – Segment Analysis

Based on the form, the market is segmented into liquid biofertilizers and carrier-based biofertilizers. The liquid biofertilizers segment is expected to grow at a higher CAGR over the forecast period. Liquid biofertilizers have a longer lifespan as compared to the carrier-based biofertilizers. Due to this, it becomes reasonable and accessible for farmers to use liquid biofertilizers in developing areas. This is one of the biggest factors that is increasing the growth of the liquid fertilizers segment in the global biofertilizers market.

Mode – Segment Analysis

Based on the mode of application, the market is segmented into soil treatment, seed treatment, and others. The soil treatment segment is projected to grow at a higher CAGR during the forecast. Soil treatment basically enhances the fertility of the soil without any harmful effect on the soil or the environment. The application of biofertilizers with soil treatment improves the productivity of the crop and hence increase the crop yield. These features have significantly increased the use of soil treatment biofertilizers, further surging the growth of this segment in the global biofertilizers market.

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Regional – Segment Analysis

Based on the region, the North America region is expected to lead the global biofertilizers market owing to the regulations imposed by the government on preventing the use of harmful chemicals/fertilizers in agriculture for organic farm produce. The increasing demand for organic food among consumers due to the rising concerns related to health is further surging the growth of the biofertilizers market. The United States Department of Agriculture (USDA) has stated a massive abundance of biomass feedstock, which is a source to promote organic farming. This factor is likely to appear as a major factor that is driving the growth of the biofertilizers market.

Top Market Players

Various notable players operating in the market include Novozymes, Vegalab S.A., Kiwa Bio-Tech Products Group Corporation, Chr. Hansen Holding A/S, T.Stanes & Company Limited, Rizobacter S.A., Lallemand Inc., IPL Biologicals, Nutramax Laboratories, Inc., and Kan Biosys, among others. 

Key Developments:

• • In 2020, Kiwa Bio-Tech Products Group Corporation announced an agreement with Huaxialitai Co., Ltd., a China state-owned enterprise, which grabs a massive fertilizer market channel in China. This agreement states that Huaxialitai Co., Ltd. will promote Kiwa Bio-Tech’s products throughout China.
  • In 2020, Hansen Holding A/S acquired UAS Laboratories to bolster its microbial platform and product offerings. Through this acquisition, the company aims to strengthen and expand their global microbial platform, that is aligned with the strategy of pursuing bolt-on acquisition that fit into the microbial platform.

Segments covered in the Report:

The global Biofertilizers market has been segmented on the basis of type, form, mode of application, crop type and regions. Based on type, the market is segmented into nitrogen-fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers, potash solubilizing & mobilizing biofertilizers, and others. Based on form, the market is segmented into liquid biofertilizers and carrier-based biofertilizers. Based on mode of application, the market is segmented into soil treatment, seed treatment, and others. Based on crop type, the market is segmented into cereals & grains, pulses & oilseeds, fruits & vegetables, and others. Based on the regions, the global biofertilizers market has been segmented into Asia-Pacific, Europe, North America, and RoW.

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Key questions answered in this research report:

• • At what pace is global biofertilizers market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in biofertilizers market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global biofertilizers market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various mode of application areas of global Biofertilizers market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 2.1 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Form, By Mode of Application, By Crop Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Novozymes, Vegalab S.A., Kiwa Bio-Tech Products Group Corporation, Chr. Hansen Holding A/S, T.Stanes & Company Limited, Rizobacter S.A., Lallemand Inc., IPL Biologicals, Nutramax Laboratories, Inc., Kan Biosys, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Biofertilizers Market by Type

• • Nitrogen-Fixing Biofertilizers
  • Phosphate Solubilizing & Mobilizing Biofertilizers
  • Potassium Solubilizing & Mobilizing Biofertilizers
  • Others

Global Biofertilizers Market by Form

• • Liquid Biofertilizer
  • Carrier-based Biofertilizer

Global Biofertilizers Market by Mode of Application

• • Soil Treatment
  • Seed Treatment
  • Others

Global Biofertilizers Market by Crop Type

• • Cereals & grains
  • Pulses & Oilseeds
  • Fruits & vegetables
  • Others

Global Biofertilizers Market by Region

• • North America Biofertilizers Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Form
    • By Mode of Application
    • By Crop Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Biofertilizers Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Form
    • By Mode of Application
    • By Crop Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Biofertilizers Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Form
    • By Mode of Application
    • By Crop Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Biofertilizers Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Form
    • By Mode of Application
    • By Crop Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Biofertilizers (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Novozymes
  • Vegalab S.A.
  • Kiwa Bio-Tech Products Group Corporation
  • Hansen Holding A/S
  • Stanes & Company Limited
  • Rizobacter S.A.
  • Lallemand Inc.
  • IPL Biologicals
  • Nutramax Laboratories, Inc.
  • Kan Biosys