Biofertilizers Market Size, Share, Growth Analysis, By Product, By Microorganism, By Form, By Application, By Crop Type, By Region - Industry Forecast 2024-2031

Global Biofertilizers Market size was valued at USD 2.67 billion in 2022 and is poised to grow from USD 2.99 billion in 2023 to USD 6.52 billion by 2031, growing at a CAGR of 12.3% in the forecast period (2024-2031).

The growing demand for organic products is significantly driving the rise in popularity and use of biological fertilizers. Increased recognition and acceptance of these products among farmers in both developed and developing regions are positively impacting the market. The overuse of chemical fertilizers has led to soil and water contamination, which is accelerating the shift towards organic and sustainable alternatives. Additionally, the proactive role of agricultural input producers in enhancing their production of biologicals, particularly biofertilizers, is expected to boost global market growth. The organic food and beverage sector is among the fastest-growing industries globally, propelled by various government incentives and a rising consumer preference for naturally cultivated foods. The awareness of the risks associated with synthetic fertilizers and crop chemicals has led to substantial agricultural reforms worldwide. Issues such as nutrient loss in food, long-term health impacts from excessive chemical exposure, and environmental damage-including soil contamination and degradation of water resources-have intensified the global shift towards bio-based fertilizers. These factors are driving a steady increase in the adoption of biofertilizers, reflecting a broader trend toward more sustainable agricultural practices.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Biofertilizers market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Biofertilizers Market Segmental Analysis

The global biofertilizers market is segmented based on type, microorganism, form, application, crop type, and region. Based on type, the market is segmented into Nitrogen-fixing biofertilizers, Phosphate solubilizing & mobilizing biofertilizers, Potassium solubilizing & mobilizing biofertilizers, Other (zinc, silica, and sulphur solubilizing biofertilizers). Based on microorganism, the market is segmented into rhizobium, azotobacter, azospirillum, pseudomonas, bacillus, VAM, and others. Based on form, the market is segmented as liquid and carrier-based. Based on mode of application, the market is segmented into seed treatment, soil treatment, others (foliar treatment, root dipping, and seedling root treatment). Based on crop type, the market is segmented into cereals & grains, pulses & oilseeds, fruits & vegetables, and others (turf and ornamentals, plantation crops, fiber crops, and silage & forage crops). Based on region, the market is segmented into North America, Europe, Asia-Pacific, and MEA.

Drivers of the Global Biofertilizers Market

According to the Research Institute of Organic Agriculture, organic farming covered 72.3 million hectares of agricultural land globally in 2019, marking it as one of the fastest-growing agricultural practices. Unlike conventional farming, which relies on synthetic fertilizers that harm microorganisms and degrade soil quality, organic farming emphasizes the use of natural methods and resources to enhance soil fertility. By avoiding agrochemicals, genetically modified organisms, and synthetic additives, organic farming promotes the sustainable management of soil and reduces degradation. The increasing demand for organic food further encourages farmers to adopt bio-based fertilizers, supporting the expansion of organic farming practices worldwide.

Restraints in the Global Biofertilizers Market

The production costs for biological and organic fertilizers are generally higher compared to conventional fertilizers, primarily due to the specialized machinery and equipment required. This higher cost is anticipated to be a challenge for market growth in the near future. Additionally, biofertilizers often include live microbial cells, which have a limited shelf life of about six months at temperatures between 20-25°C. These cells necessitate careful handling during storage and transportation, further driving up costs. The short shelf life and limited adaptability of these products are expected to be significant factors that could hinder market expansion during the forecast period.

Market Trends of the Global Biofertilizers Market

The global biofertilizers market is projected to continue growing in the coming years, driven by the rising demand for fertilizers that align with sustainable and organic farming practices. Biofertilizers offer a cost-effective and environmentally friendly alternative for agricultural production, leading to their increasing adoption worldwide. Key factors contributing to this growth include enhanced nutrient absorption by plants, improved soil fertility, and a reduced risk to human health associated with bio-based fertilizers. These advantages make biofertilizers a compelling choice for modern agriculture, further propelling their market expansion.