Press Release

Global Biofertiliser Market to Reach US$ 9.91 Billion by 2032

Global Biofertiliser Market

According to a new report by Expert Market Research, the global biofertilisers market size reached a value of about USD 3.37 billion in 2023. The market is further expected to grow at a CAGR of about 12.7% in the forecast period of 2024-2032 to reach a value of approximately USD 9.91 billion by 2032.

In addition to this, they are eco-friendly unlike chemical fertilisers which cause environmental pollution. Owing to their various benefits, biofertilisers have today gained significance in the agriculture industry. According to a new report by Expert Market Research, the global biofertiliser market reached a value of around US$ 3.37 Billion in 2023 and is further expected to reach US$ 9.91 Billion by 2032.

 

The sturdy growth of the market can be accredited to a number of forces. On account of rising environmental awareness, there has been an increase in the implementation of regulatory policies by governments across various countries supporting the use of biofertilisers. Moreover, an inclination towards organic food by consumers have also augmented the demand for biofertilisers. Some of the other factors such as population growth coupled with rising disposable incomes have also broadened the growth aspects of the market. Although the penetration of bio-fertilizers is still at a nascent stage in most regions across the world, the market holds a plethora of opportunities.

 

 

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Key findings from the report:

  • Different types of biofertilisers include nitrogen fixing, phosphate fixing and others. In 2018, nitrogen fixing such as rhizobium, azotobacter, azospirillum, etc. represented the biggest category of biofertilisers.
  • The major end-uses of biofertilisers are seed treatment, soil treatment and others.
  • Region-wise, North America dominated the market with the majority of the market share. Other key markets include Asia, Europe and Others.
  • The global biofertiliser market is highly fragmented in nature with some of the top players being Novozymes, National Fertilizers Limited, Rizobacter, Lallemand Inc., and Nutramax Laboratories, among others.
  • These players are targeting the untapped markets of developing regions in order to increase their profitability.

 

Expert Market Research has analysed the global biofertiliser market according to type, end-use, major regions and top players:

 

Market breakup by Type

  • Nitrogen-Fixing
  • Phosphate-Fixing
  • Others

 

Market Breakup by End-use

  • Seed Treatment
  • Soil Treatment
  • Others

 

Market breakup by Region

  • North America
  • Asia
  • Europe
  • Others

 

Top players

  • Novozymes
  • National Fertilizers Limited
  • Rizobacter 
  • Lallemand Inc.
  • Nutramax Laboratories

 

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