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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Biofertilisers Market Analysis
The increasing environmental consciousness is one of the main factors driving the biofertilisers market development. There is a rise in the inclination towards biofertilisers due to increased awareness of adverse environmental consequences, like soil degradation and emissions, caused using chemical fertilizers. In addition, the growing demand for organic fruit and vegetables, due to increasing consumer health consciousness, is also providing a boost to the biofertilisers industry growth.
Biofertilisers Market Report Snapshots
Biofertilisers Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global biofertilisers market reached a value of USD 3.37 billion in 2023.
The global biofertilisers market is assessed to grow at a CAGR of 12.7% between 2024 and 2032.
The market is estimated to reach a value of about USD 9.91 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, growing demand for organic fruit and vegetables, increased awareness of adverse environmental consequences, and the increasing consumer health consciousness.
The governments in a number of countries have taken various steps to discourage the use of chemical fertilisers and to promote sustainable farming practices, which is expected to be a key trend for the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major types of the product include nitrogen-fixing biofertilisers and phosphate-fixing biofertilisers, among others.
Based on the crop, the market is divided into cereals and grains, pulses and oilseeds, fruits and vegetables and others.
Seed treatment is the leading mode of application in the market.
The microorganisms include cyanobacter, rhizobium, phosphate solubilizing bacteria, and azotobacter, among others.
The market's key players are Novozymes A/S, National Fertilizers Limited, Rizobacter Argentina S.A., Gujarat State Fertilizers & Chemicals Ltd., Lallemand Inc., and Madras Fertilizers Limited, among others.
Based on the treatment, the market is divided into seed treatment and soil treatment.
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