Biofertilizers Market to 2028 - COVID-19 Impact and Global Analysis by Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteria, and Others), Crop Type (Cereals and Grains, Oil Seeds and Pulses, Fruits and Vegetables, and Others), and Application (Seed Treatment, Soil Treatment, and Others)
Publication Month: Jan 2022 |
Report Code: TIPRE00006946
| No. of Pages: 144
| Category: Chemicals and Materials
| Status: Published
The biofertilizers market was valued at US$ 2,214.93 million in 2022 and is projected to reach US$ 4,474.43 million by 2028. It is expected to grow at a CAGR of 12.2% from 2021 to 2028.
The growing soil and water contamination due to excessive use of chemical fertilizers is polluting the environment globally and risking human life. Which in turn, several governments have imposed regulations on use of chemical fertilizers in the agricultural sector across all developing and developed economies taking into consideration the environmental hazards and promoting bio farming. For instance, in 2019, the Government of India introduced Paramparagat Krishi Vikas Yojana to encourage farmers to use biofertilizers, biopesticides, and vermicompost in their farmland. Under this program, the government is providing financial assistance to procure these bioproducts for their farming. Furthermore, the growing adoption of organic foods due to their associated health benefits is further boosting the demand for biofertilizers globally.
Report Coverage - Biofertilizers Market
Market Size Value in
US$ 2,214.93 million in 2022
Market Size Value by
US$ 4,474.43 million by 2028
CAGR of 12.2% from 2021 to 2028
No. of Pages
No. of Tables
No. of Charts & Figures
Historical data available
Product Type, Microorganism, Crop Type, and Application
Free Sample Copy Available
Impact of COVID-19 Pandemic on Biofertilizers Market
The ongoing COVID-19 pandemic is anticipated to cause considerable disruptions in the growth of various industries globally. However, the pandemic did not majorly impact the biofertilizers market except the first two quarters of 2020, when the supply chain of the biofertilizer's raw material was hampered due to the restriction of goods transport. Eased lockdown norms in several countries and growing seasonal crops have sustained global demand for biofertilizers. In addition to this, the rapid COVID-19 vaccinations program and rise in adoption of organic farming globally are expected to flourish the growth of the biofertilizers market in the coming years.
Biofertilizers Market Breakdown, by Region
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Increased Consumption of Synthetic Fertilizers in South America is Opening Opportunities
As per the Intechopen report, South America has extensively used chemical-based fertilizers between 2005–2018 and consumed 15.2–26.3 million tons of synthetic fertilizer (e.g., nitrates and phosphates), which has contaminated its soil and water sources. This development has forced the region to extensive research on biofertilizers and adopt it since it repairs soils fertility without harming environments. Ecuador, Argentina, and Brazil are the major countries that are shifting from the application of synthetic fertilizers to biofertilizers. Hence, the growing adoption of bio-based agriculture is providing lucrative opportunities for the market players.
Product Type Insights
Based on product type, the global biofertilizers market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. The nitrogen fixing segment led the biofertilizers market with the largest revenue share of the market in 2020.
Biofertilizers Market, by Product Type – 2022 and 2028
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Based on microorganism, the global biofertilizers market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. The rhizobium segment led the biofertilizers market with the largest revenue share of the market in 2020.
Crop type Insights
Based on crop type, the global biofertilizers market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. The cereals and grains segment led the biofertilizers market with the largest revenue share in 2020.
Based on application, the global biofertilizers market is segmented into seed treatment, soil treatment, and others. The seed treatment segment led the biofertilizers market in 2020.
AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd; Novozymes; Rizobacter; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA. are the key biofertilizers manufacturers worldwide. These players are actively focusing on developing more innovative biofertilizer products which can increase crop yield by enriching soil quality.
Progressive industry trends in the biofertilizers market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the biofertilizers market from 2019 to 2028
Estimation of global demand for biofertilizers
Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook as well as factors driving and restraining the growth of the biofertilizers market
Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
The size of the biofertilizers market at various nodes
Detailed overview and segmentation of the market, as well as the biofertilizers industry dynamics
Size of the biofertilizers market in various regions with promising growth opportunities
Rising health consciousness and consuming chemical free food is fostering the demand for organic food globally and this factor is driving the growth of the global biofertilizers market. Biofertilizers entails properties that increases the level of level of nitrogen and phosphorus in plants more naturally than other fertilizers and soil improvement by restoring its normal fertility. In addition to this, biofertilizers also boost soil texture and quality, which helps plants grow better during severe conditions, such as drought. Furthermore, the use of bio-based fertilizers in agricultural fields significantly helps in the decomposition of organic residue and aids in the overall development of plants and crops. Hence, the factors mentioned above are favoring the market growth and increasing the demand for biofertilizers globally.
Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 12.6% from 2021 to 2028. The growth of the APAC region can be attributed to the increasing consumer preference toward consuming organic food, coupled with regulatory initiatives and agricultural reforms undertaken by governments of various Asian countries. Farmers in APAC countries are choosing biofertilizers over synthetic and chemical-based fertilizers due to the rising demand for organic farming. Moreover, it will help prevent soil and water contamination from the chemical application.
Due to the COVID-19 pandemic, biofertilizers manufacturers witnessed a slight disruption in the supply chain of their raw materials during the first two quarters of 2020. However, the supply chain of biofertilizer materials has been restored, and production activities have regained normalcy in late 2020. Later, the market was not significantly negatively impacted by the pandemic. Further, with the growing COVID-19 vaccinations and eased in lockdown restrictions, the global economy is resuming, and subsequently, the biofertilizers market is regaining its growth.
Based on product type, the global biofertilizers market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. The nitrogen fixing segment led the global market in 2020 due to the rising demand for synthesized vitamins, amino acids, nucleic acids-based nitrogenous compounds for fixing nitrogen presence, and several other essential minerals in the soil for organic farming globally.
The major players operating in the global biofertilizers market are AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd; Novozymes; Rizobacter; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA.
During the forecast period, North America is anticipated to account for the largest share in the global biofertilizers market. The growth of the region can be attributed to the rising demand for organic products, increasing acceptance of biofertilizers among rural farmers, and surging adoption of advanced irrigation systems such as drip and sprinkler irrigation for fertigation. Furthermore, increasing government interventions in farming practices held in the region led to significant changes in agricultural trends and methods across the US and Canada and increased organic farming across the region.
The List of Companies - Biofertilizers Market
Biotech International Ltd.
Kiwa Bio-Tech Products Group Corporation
Mapleton Agri Biotec Pt Ltd
T.Stanes and Company Limited
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global biofertilizers market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.