Biofertilizer Market Trends, Share, Size, Growth Aspects and Forecast 2023-2028

MARC Group, a leading market research company, has recently releases report titled “Biofertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biofertilizer market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Biofertilizer Market?

Report Attributes     

Details

Market Size in 2022

US$ 2.7 Billion

Market Forecast in 2028

US$ 5.8 Billion

Growth rate (2023 to 2028)

CAGR of 12.8%

Base Year of the Analysis

2022

Forecast Period

2023-2028


What is Biofertilizer?

Biofertilizers are an effective and eco-friendly alternative to chemical fertilizers for enhancing soil fertility and promoting plant growth. They contain microorganisms that are essential for plant growth and soil health, such as plant tissues, bacteria, fungi, and rhizosphere. The production process of biofertilizers involves cultivating and multiplying specific candidate microbes from a particular environment using a fermenter under optimal growth conditions. They supply nutrients to plants through natural processes, such as phosphorus solubilization, nitrogen fixation, and the creation of growth-promoting chemicals. Additionally, they help restore the natural nutrient cycle of soil and increase soil organic matter. Currently, the commonly available product variants include rhizobium, azotobacter, cyanobacteria, azospirillium, and azolla.

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What are the Growth Prospects and Trends in the Biofertilizer Industry?

The global market is primarily driven by the increasing environmental consciousness and the rising awareness regarding the benefits of biofertilizers. In line with this, key market players are investing heavily in research and development (R&D) activities to examine the microbial persistence of biofertilizers in soil under different conditions, which is providing a considerable boost to the market growth. Moreover, the reducing fertile lands has significantly surged the demand for high-performance biofertilizers, which is creating a positive outlook for the market. Additionally, governments of umpteen nations are undertaking several initiatives to promote the adoption of biofertilizers and are offering financial assistance and subsidies to investors, which, in turn, is bolstering the market growth.  

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Who are the Key Players Operating in the Biofertilizer Market?

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Novozymes A/S
  • National Fertilizers Limited
  • Madras Fertilizers Limited
  • Gujarat State Fertilizers & Chemicals Ltd.
  • Rizobacter Argentina S.A.
  • Stanes & Company Limited
  • Camson Bio Technologies Limited
  • Rashtriya Chemicals & Fertilizers Ltd.
  • Lallemand Inc.
  • Nutramax Laboratories, Inc.

What is Included in Market Segmentation?

The report has categorized the market based on type, crop, microorganism and mode of application.

Breakup by Type:

  • Nitrogen-fixing biofertilizers
  • Phosphate-fixing biofertilizers
  • Others

Breakup by Crop:

  • Cereals and grains
  • Pulses and oilseeds
  • Fruits and vegetables
  • Others

Breakup by Microorganism:

  • Cyanobacter
  • Rhizobium
  • Phosphate Solubilizing Bacteria
  • Azotobacter
  • Others

Breakup by Mode of Application:

  • Seed treatment
  • Soil treatment
  • Others

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Others

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=17&flag=C

Key Highlights of The Report:                                                    

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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