SAN FRANCISCO, April 20, 2023 /PRNewswire/ — The global biofertilizers market size is projected to reach USD 3.9 billion by 2030, registering a CAGR of 12.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising demand for organically produced food products across emerging economies backed with growing economic stability is the key boost to the marketspace.
Key Industry Insights & Findings from the report:
North America accounted for the largest market share of 32.1%, in terms of revenue, in 2022 and is projected to grow at a volumetric rate of 13.7% from 2023 to 2030.
Nitrogen fixing biofertilizers are observed to reflect heavy growth in terms of volume growing a CAGR of 13.8% from 2023 to 2030 on account of widespread demand generation from North American and European agricultural communities to boost yield of various cereals.
Among the various crop types, cereals & grains captured a significant market with volume share of 50.6%. This was majorlyue to heavy demand for wheat from various Asian and Latin American countries such as Thailand, Singapore, India, Brazil, and Argentina.
Read 170-page market research report, “Biofertilizers Market Size, Share & Trends Analysis Report By Product (Nitrogen Fixing, Phosphate Solubilizing, Others), By Application, By Crop Type, By Region, And Segment Forecasts, 2023 – 2030”, published by Grand View Research.
Biofertilizers Market Growth & Trends
Organic food products are naturally-derived without utilizing any food additives or synthetic chemicals. Key contributors to the organic food market include organically produced meat and dairy products, organically cultivated fruits and vegetables, and naturally-derived beverages, which include both alcoholic as well as non-alcoholic beverages. Growing consumer preference for healthy eating habits globally coupled with rising disposable income levels of individuals in the emerging economies of Asia Pacific, including Indonesia, Japan, Inda and Thailand, is projected to boost the demand for organic food and beverage products in the region.
Further, according to the Research Institute of Organic Agriculture, number of organic farmers has grown significantly since 2000 due to the constant efforts undertaken by government agencies and agricultural and environmental authorities globally. The government to raise awareness about the benefits of switching to organic harvesting and incentives to promote sustainable farming practices. The largest market for organic food retail sales in 2017 and 2018 was the U.S. followed by Germany, France, China, and Italy, respectively. Growing acceptance of organic-based farming techniques and consumer inclination toward organic food are anticipated to drive the demand for organic fertilizers in the foreseeable future.
Yet another key driver for development of the market is the increased focus on environmental sustainability, which would result in reduced consumption of petroleum-based produtsand a shift to bio-based alternatives. Carbon footprint of greenhouse gas emission is one of the major hazards associated with the manufacturing of chemicals from crude oil. The use of biofertilizers is bound to minimize carbon footprints significantly in due course and is, therefore, being highly promoted by key regulatory authorities worldwide. Biofertilizer production emits significantly lower CO2, which makes them increasingly popular in the developed regions of North America and Europe.
Biofertilizers Market Segmentation
Grand View Research has segmented the global biofertilizers market on the basis of product, application, crop type, and region
Biofertilizers Market – Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
Nitrogen Fixing
Phosphate Solubilizing
Others
Biofertilizers Market – Application (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
Seed Treatment
Soil Treatment
Biofertilizers Market – Crop Type (Volume, Kilotons; Revene, SD Million, 2018 – 2030)
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
Biofertilizers Market – Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
Italy
France
Asia Pacific
China
India
Japan
Central & South America
Brazil
Argentina
Middle East & Africa
List of Key Players of Biofertilizers Market
CBF China Biofertilizers
Novozymes A/S
AgriLife
Mapleton Agri Biotec
Biomax
Rizobacter Argentina SA
Symborg S.L.
National Fertilizers Ltd.
Antibiotice S.A.
Lallemand Inc.
Labiofam SA
Sigma Agri-Science, LLC
Agrinos Inc.
Fertilizers USA LLC
Kiwa Bio-Tech Products Group Corporation
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Agricultural Biologicals Market – The global agricultural biologicals market size is projected to reach USD 14.7 billion by 2027 registering a CAGR of 9.4%, according to a new report by Grand View Research, Inc. Rising demand for food products grown through organic means coupled with favorable government intiaties undertaken across all major agrarian economies is anticipated to drive the market. Significant agricultural reforms were realized worldwide after recognizing the hazards associated with synthetic fertilizers and crop care chemicals.
Browse through Grand View Research’s Agrochemicals & Fertilizers Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business envionmentand gauge the opportunities that lie ahead.
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