Biofertilizers are microorganisms that help in increasing the supply of plant nutrients in the soil. They aid plant growth by means of several mechanisms like nitrogen fixation, solubilizing phosphorus, stimulating plant growth through the synthesis of growth-promoting substances. The growing trend of organic farming is driving the demand for biofertilizers as they help enhance soil fertility without using any chemicals. The rising health and environmental consciousness has increased the cultivation of organic food worldwide. Furthermore, depleting global resources, strict regulations on chemical fertilizers, and the need for sustainable agricultural practices are other key factors fueling the biofertilizers market growth.
The Global biofertilizers market is estimated to be valued at US$ 2.61 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the biofertilizers market are Sanofi SA, Reckitt Benckiser Group PLC, Pfizer Inc., Mylan NV, GlaxoSmithKline PLC, Johnson & Johnson, Bayer, Takeda Pharmaceutical, and Sun Pharmaceutical Industries Ltd., among others. These key players are focusing on new product launches and expanding their geographical presence through mergers and acquisitions to increase market share.
The rising demand for organic foods and implementation of stringent laws prohibiting the usage of chemical fertilizers present tremendous growth opportunities for players in the Biofertilizers Market Size. Additionally, the growing export demand for organic food from developed countries of North America and Europe to the developing nations of Asia and Latin America is fueling the global expansion of biofertilizers.
Market drivers and restrain:
Key driver- Growing awareness regarding environmental hazards of chemical fertilizers is propelling farmers to shift to sustainable and organic farming practices using biofertilizers. This is expected to drive the demand over the forecast period.
Key restrain- High production costs and technical constraints in the manufacturing process make biofertilizers expensive compared to chemical fertilizers. This could hamper market growth.
Segment Analysis
The biofertilizers market comprises of Nitrogen fixing biofertilizers, phosphate solubilizing & mobilizing biofertilizers, and other types. Nitrogen fixing biofertilizers dominates the market with a share of around 60% as they help in nitrogen fixation and significantly reduce the requirement for chemical nitrogen fertilizers in various crops including wheat, pulses, oilseeds and vegetables. These biofertilizers improve soil health and fertility by fixing nitrogen from atmosphere.
Global Analysis
In terms of regional analysis, North America will dominate the global biofertilizers market during the forecast period. The demand for biofertilizers is high in the US and Canada due to growing concerns regarding chemical fertilizers and their severe impacts on soil and environment. The Asia Pacific region will emerge as the fastest growing market owing to increasing population and rising demand for organic foods. Countries like India and China are major producers and consumers of agriculture outputs driving the need for sustainable fertilizer options like biofertilizers.
Get more insights on Biofertilizers Market
The History of Organic Farming dates back to the Roman Empire.
The growing interest in natural and organic food, coupled with concerns over food safety, environmental sustainability, and animal welfare has given new impetus to this age-old tradition.
The Global Biofertilizers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Biofertilizers are inputs of living microorganisms that supply necessary nutrients to applied plants/crops.
The use of biofertilizers will restrict the usage of chemical fertilizers and pesticides.
Biofertilizers are produced from human and organic wastes, which are rich in nutrients required by the plants and soil.North America followed by Europe account the major market share in the global biofertilizers market.
This region is flourishing, owing to the growth in demand from markets such as India, China and Taiwan.
Growing agricultural activities and awareness & preference to organic food is driving the global biofertilizers market.
Bactogang is a unique formulation containing different live microbe consortia & microbial extractsNitrogen- Fixing bacteria (Three Species )Rhizobium : The bacteria colonize plant cells within root nodules where they convert atmospheric nitrogen into ammonia and then provide organic nitrogenous compounds.
Which gives better plant growth.Azotobacter : Binds atmospheric nitrogen, which is inaccessible to plants, and releases it in the form of ammonium ions into the soil.
Which increases better availability of nitrogen to plants.Azospirillum : It fixes the atmospheric nitrogen and makes it available to plants in non-symbiotic manner that can replace 50-90% of the nitrogen fertilizer required by plants & minimize.Phospate Solubilizing Bacteria (PSB) PSB strains are associated with the release of low molecular weight organic acids & their hydroxyl and carboxyl groups chelate the cations bound of phosphate, thereby converting it into soluble forms.
Which gives better quality & yield of crop.Potash Solubilizing bacteria (KSB)KSB dissolves silicate minerals & releases potassium through the production of organic & inorganic acid.
Which improves the plant vigor & disease resistance.For more details on product please click here
Organic farming needs more information and the key factor of organic farming is to maintain a transparency between farmer-buyer relationships.Read more - https://www.naturesenses.in/blog/the-organic-farming-route/
