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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Biofertilisers Market Growth
Bio fertilisers are derived from biological waste containing live microorganisms. Like chemical fertilisers that provide direct nutrients to the plant, bio fertilisers help increase overall soil fertility. The microorganisms found in these fertilisers decompose organic matter and break down complex minerals for fast plant absorption. This system enriches the soil with nutrients, which, in effect, encourage healthy plant growth. In addition, biofertilisers do not allow pathogens to develop, which helps prevent crop diseases, thus, driving the growth of the biofertilisers market.
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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