At 12% CAGR, Global Biofertilizers Market Size and Share to Surpass US$ 4.5 Billion By 2028 | Biofertilizers Industry Trends, Share, Growth, Value, Analysis and Forecast Report By ZMR
NEW YORK, Sept. 15, 2022 /PRNewswire/ -- As per Zion Market Research study, The global biofertilizers market size was worth around USD 1.81 billion in 2021 and is predicted to grow to around USD 4.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 12% between 2022 and 2028.
Biofertilizers Market: Overview
Biofertilizers are substances containing microorganisms that are applied to seeds, soil, or plant surfaces resulting in colonization of the plant interior or rhizosphere promoting plant growth by either providing or increasing the supply of required nutrients for plant growth. The nourishing components are added by natural processes like nitrogen fixation which is the process of converting Nitrogen present in the air to ammonia.
Other processes include the synthesis of growth-promoting substances or solubilizing phosphorus. Biofertilizers are full of microorganisms that aid the enriching of soil's natural nutrient cycle and building of soil organic matter. Biofertilizers are becoming extremely popular because they not only aid the growth of healthy plants but do not have any severe impact on the soil's natural texture; instead, it retails the health of the land thus acting as a stepping stone toward sustainable agriculture.
Organic fertilizers are expected to aid the process of reducing the use of synthetic or artificially created fertilizers that hinder the soil's nutrient value in the long run and do not promote sustainable growth. Since biofertilizers are made of living organisms, they can be symbiotically associated with the plant or its roots and do not have to be forced into plant components. The microorganisms help convert complex organic material into simpler forms that the host plant can easily absorb which is more like a helping mechanism. These microorganisms do not in any way affect the soil composition hence retaining its original form.
Biofertilizers are known to help improve crop yield by 20 to 30%. As estimated, organic fertilizers help in replacing phosphorus or nitrogen by 30%. Chemical fertilizers are known to erode the quality of the soil when used over a long time eventually making the soil barren for use. On the contrary, biofertilizers promote healthy soil, thus advocating for a sustainable form of farming.
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Key Industry Insights & Findings of the Biofertilizers Market Reports:
- As per the analysis shared by our research analyst, the global biofertilizers market is estimated to grow annually at a CAGR of around 12% over the forecast period (2022-2028).
- In terms of revenue, the global biofertilizers market size was valued at around USD 1.81 billion in 2021 and is projected to reach USD 4.5 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Synthetic or heavy chemical fertilizers have been used in the agriculture sector for many decades because earlier they showed promising results in terms of better crop yield, and providing necessary nutrients for different crops.
- As per the Food and Agriculture Organization of the United Nations, up to 33% of the earth's entire soil is already degraded as per estimates more than 90% is expected to get deteriorated by 2050.
- The world is witnessing a rise in the adoption of biofertilizers over chemical fertilizers but the rate of adoption is relatively lower in comparison to what it should be to avoid any extra damage to the environment or soil texture.
- Benefits like subsidies for organic farmers, along with schemes like Capital Investment Subsidy Scheme (CISS) falling under Soil Health Management Scheme, and the Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) are all expected to encourage the agricultural sectors' move towards chemical-free farming.
- Although there is slow and steady movement registered in this direction, additional efforts are needed to help this become a complete reality. Until then, the global market may witness some challenges along the way to gaining market share.
Zion Market Research published the latest report titled "Biofertilizers Market By Microorganism (Bacillus, Azotobacter, Rhizobium, Azospirillum, VAM, Pseudomonas, and Others), By Type (Phosphate Solubilizers, Nitrogen Fixing, and Others), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), By Application (Soil Treatment, and Seed Treatment), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Biofertilizers Market: Growth Drivers
- Growing concern toward soil quality to drive market growth.
The global biofertilizers market is projected to benefit from the growing concerns over the deteriorating health of soils' natural texture across the globe. Synthetic or heavy chemical fertilizers have been used in the agriculture sector for many decades because earlier they showed promising results in terms of better crop yield, and providing necessary nutrients for different crops. However over a while, with constant use, they are proving to be harmful to the environment and have resulted in multiple degrees of soil pollution. Excessive use of synthetic fertilizers has resulted in soil degradation, nitrogen leaching, reduction in soil organic matter, soil compaction, and loss of soil carbon.
Over time, its efficiency for better crop yield has reduced in the last couple of years. As per the Food and Agriculture Organization of the United Nations, up to 33% of the earth's entire soil is already degraded as per estimates more than 90% is expected to get deteriorated by 2050. Since soil cannot be artificially created and takes more than 1000 years to produce 2 to 3 cms of nutrient-rich soil, the world institutes and the population, in general, are becoming more aware of this and are opting for more sustainable forms of agriculture. Since fertilizing growing crops is a critical step, there are rising efforts undertaken toward providing quality care to the crops without impacting the environment.
Biofertilizers Market: Restraints
- Slow adoption rate of biofertilizers to restrict the market growth.
The world is witnessing a rise in the adoption of biofertilizers over chemical fertilizers but the rate of adoption is relatively lower in comparison to what it should be to avoid any extra damage to the environment or soil texture. Many regions and many farmers still prefer chemical fertilizers over biofertilizers owing to either less awareness of the benefits of biofertilizers or due to the absence of sufficient manufacturers of the product making the product difficult to reach. These factors may restrict global market growth unless more initiatives are undertaken to spread as much awareness as possible.
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Biofertilizers Market: Opportunities
- Rising government assistance to provide growth opportunities.
Many regional governments have undertaken the task of promoting organic farming in the agricultural sector. For instance, the government of India has begun multiple campaigns to educate farmers about the benefits of not using chemicals during farming procedures. Other benefits like subsidies for organic farmers, along with schemes like Capital Investment Subsidy Scheme (CISS) falling under Soil Health Management Scheme, and the Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) are all expected to encourage the agricultural sectors' move towards chemical-free farming.
Biofertilizers Market: Challenges
- Inability of biofertilizers to completely take over the benefits of chemical fertilizers to challenge market growth.
Biofertilizers have been unable to completely replace chemical fertilizers as of 2022 owing to multiple factors like high cost and less awareness, amongst others. More research and marketing initiatives are needed for biofertilizers to become the absolute choice of the farming industry. Although there is slow and steady movement registered in this direction, additional efforts are needed to help this become a complete reality. Until then, the global market may witness some challenges along the way to gaining market share.
Global Biofertilizers Market: Segmentation
- The global biofertilizers market is segmented based on the microorganism, type, crop type, application, and region.
Based on microorganism, the global market is segmented into bacillus, azotobacter, rhizobium, azospirillum, VAM, pseudomonas, and others. Rhizobium is projected to lead the global market share owing to its ability to not only provide excellent nitrogen fixation but as an important component promoting growth and supporting insolubilization of chemical or inorganic phosphate. It has proven to be cost-effective along with the delivery of quality results. For instance, per 100 gm of seed, 200 gm each of rhizobium and phosphitika is recommended for ideal results. Azotobacter is also projected to generate significant results during the forecast period because of its positive impact on the crop growth rate.
Based on type, the global biofertilizers market is divided into phosphate solubilizers, nitrogen-fixing, and others. Currently, the global market is dominated by nitrogen-fixing biofertilizers owing to the increased awareness of nitrate emissions and water pollution resulting from chemical fertilizers that contain water-soluble nitrogen salts, they are swept away by rainwater merging them with water bodies and causing pollution. In the European Union, more than 38% of water bodies are close to getting polluted because of chemical fertilizers.
Based on crop type, the global market is divided into cereals, pulses & oilseeds, fruits & vegetables, and others. Biofertilizers are more widely used for the production of cereals in comparison to other agricultural products. The segmental growth is driven by the high demand for organic cereals in developing and developed economies owing to rising health concerns. As per official records, the use of organic fertilizers has helped in enhancing crop yields by 60 to 85%.
Based on application, the global market divisions are soil treatment and seed treatment. The global market witnessed the highest share in the seed treatment market since using biofertilizers directly on seed helps in improving nitrogen fixation and aiding the quality production of crops. As recommended, 1 packet of inoculants can sufficiently treat 10 kilograms of seeds.
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List of Key Players in Biofertilizers Market:
- Lallemand Inc.
- CBF China Biofertilizers
- Fertilizers USA LLC
- Novozymes A/S
- Symborg SL
- Bioceres S.A
- AgriLife
Key questions answered in this report:
- What are the growth rate forecast and market size for Biofertilizers Market?
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Recent Developments
- In September 2021, Novozymes introduced five biological solutions in the global market intending to address challenges faced in the North American agricultural sector. The company also established a new customer service team to provide better services to the users. The newly launched products can effectively treat nutritional efficiency concerns, help with nitrogen fixation, and aid nodulation.
- In June 2021, the State Government in India started the large-scale manufacturing of liquid biofertilizers for helping the consumers improve soil quality resulting in better agricultural yield. The new units are expected to encourage farmers toward adopting biofertilizers during agricultural processes.
Regional Dominance:
- North America to generate the highest revenue during the projection period.
The global biofertilizers market is projected to be dominated by North America which generated over USD 549 million in revenues in 2021. The increasing number of organic farms in the USA, Mexico, and Canada region is a major factor contributing to the regional growth. Since 2014, the organic farming sector has increased considerably reaching up to 3.74 million hectares as of 2020. Organic food revenue in the US stands at over 49.5 billion euros. With a rising number of people inclined toward healthy food eating habits, there is a significant surge in consumption of chemical-free food items encouraging farmers and governments to invest in an agricultural form where there is no use of chemicals during the entire cycle.
Europe is expected to grow because of stringent regulations in place to monitor and regulate the use of chemical fertilizers and their impact on the environment. Growth in Asia-Pacific is expected to be driven by the rising research & development activities toward biofertilizers and increased awareness programs run by the government to educate farmers about organic fertilizing techniques.
Global Biofertilizers Market is segmented as follows:
Biofertilizers Market: By Microorganism Outlook (2022-2028)
- Bacillus
- Azotobacter
- Rhizobium
- Azospirillum
- VAM
- Pseudomonas
- Others
Biofertilizers Market: By Type Outlook (2022-2028)
- Phosphate Solubilizers
- Nitrogen Fixing
- Others
Biofertilizers Market: By Crop Type Outlook (2022-2028)
- Cereals
- Pulses & Oilseeds
- Fruits & Vegetables
- Others
Biofertilizers Market: By Application Outlook (2022-2028)
- Soil Treatment
- Seed Treatment
Biofertilizers Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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