Global Biofertilizers Market To Grow Owing To Rising Demand for Organic Food Items

29-Aug-2022 | Zion Market Research

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.

Fertilizers are any material that is applied to the plant tissues or soil to provide the plant with the necessary nutrients. These fertilizers may be of synthetic origin or naturally occurring. The naturally accusing fertilizers are called biofertilizers and contain different types of microbes capable of providing the plant with enriched nutrients by colonizing the rhizosphere. Biofertilizers are popular amongst the agriculture community owing to their cost-effectiveness, composition, and eco-friendly nature. Organic fertilizers are now being termed as an effective solution or alternative to hazardous chemical fertilizers that leave the environment polluted and the land, infertile after prolonged use. Biofertilizers have the capability of producing healthy crops while retaining soil content and avoiding any kind of pollution due to harmful ingredients of the fertilizers. Organic fertilizer is essentially made of five parts: the first is the bio compost which is environmentally friendly and is created from waste products of the sugar industry. Other components include fungi, bacteria, and other plants. The second part is the tricho-card which is a non-pathogenic product, useful for different types of plants and crops. It also helps in destroying any unwanted item that may impact crop quality. Azotobacter forms the third part which aids atmospheric nitrogen fixation and provides protection to the root of the plants from pathogens living in the soil. Phosphorus is the next part used to determine the exact level of nitrogen fixation needed for a particular plant. The last part is the vermicompost known for its quick soil improving quality and is full of vitamins, hormones, sulfur, and other critical aspects. Applications of biofertilizers include seedling root dip in the production of rice crops, seed treatment where seeds are dipped in fertilizers containing nitrogen & phosphorus, and soil treatment where a mixture of biofertilizers and compost fertilizers are spread across the land overnight to improve soil quality.

Covid-19 harmed the global market cap owing to a decreased demand for the overall product as a consequence of strict lockdown measures undertaken by the government to curb virus spread. Since many manufacturing units were also not functioning at full capacity there was a lag in the supply chain. Many companies reported having reduced revenue during 2020. For instance, National Fertilizers Limited generated around USD 1.6 billion in revenues in 2020 which was a reduction of around 14% in comparison to its last year's revenue.

Global Biofertilizers Market

The global biofertilizers market is projected to grow owing to the increasing demand for organic food items across the globe. There is a lot of information present on the internet about the long-term ill effects of consuming chemical-ridden food and a trend of shifting preference toward organic or chemical-free food items can be witnessed in all regions. There is high demand for products that are naturally grown and do not involve any form of the synthetic process from their inception until they reach the customer. By 2028, the organic food industry is projected to grow at a CAGR of over 14% generating a revenue of over USD 437.4 billion in the next few years. These numbers are indicative of changing consumer trends propelling the agriculture sector to look for options that can meet the growing consumer demand. The growth is expected to be aided by the increasing efforts undertaken by the government to encourage this change and help it gain more momentum.

The slow adoption rate of biofertilizers may restrict global market growth. The rising government assistance is expected to provide growth opportunities for the global market whereas the inability of biofertilizers to completely take over the benefits of chemical fertilizers may challenge this growth.

The global biofertilizers market is segmented based on type, microorganism, application, crop type, and region.

Based on type, the global 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 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 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.

Based on crop type, the global market is divided into pulses & oilseeds, cereals, 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%.

North America is projected to generate the highest revenue in the global biofertilizers market, majorly driven due to the rising trend of adopting healthy food items or chemical-free products for consumption. The regional growth is augmented by the increasing number of biofertilizer manufacturers helping the government in establishing an organic agricultural sector. The European market growth is propelled by the increase in government regulations toward the use of harmful chemical products during agricultural processes. The regions in Europe are taking a proactive approach to minimize the use of harmful chemicals and help reduce environmental pollution occurring due to the extensive use of synthetic fertilizers. For instance, as per government regulations, cadmium in phosphate fertilizers will be reduced from 60mg/kg to 40mg/kg in the coming 3 years, and after 12 years, the amount is expected to reach up to 20mg/kg.

The global biofertilizers market is dominated by players like Lallemand Inc., CBF China Biofertilizers, Fertilizers USA LLC, Novozymes A/S, Symborg SL, Bioceres S.A, and AgriLife

Recent Developments:

  • In May 2022, UPL India and Koppert India signed an official collaboration document to improve soil health and aid the development of sustainable agriculture in the country. UPL will aid the sales of biofertilizers produced by Koppert. The product is called Copio.
  • In January 2022, Kula Bio, a US-based producer of biofertilizers, raised around USD 50 million in series A funding. The investment will aid the increase in the production capacity of the company and help it in the adoption of advanced technology.

Browse the full 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. Report at https://www.zionmarketresearch.com/report/biofertilizers-market

The global biofertilizers market is segmented as follows:

By Microorganism:

  • Bacillus
  • Azotobacter
  • Rhizobium
  • Azospirillum
  • VAM
  • Pseudomonas
  • Others

By Type

  • Phosphate Solubilizers
  • Nitrogen Fixing
  • Others

By Crop Type

  • Cereals
  • Pulses & Oilseeds
  • Fruits & Vegetables
  • Others

By Application

  • Soil Treatment
  • Seed Treatment

By Region

  • 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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