NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The biofertilizers market size is estimated to grow by USD 1,881.8 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 12.76%. The growth momentum will progress during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 32%. Rising household incomes in the US and Canada are increasing the demand for organic foods. Furthermore, several government initiatives are promoting organic farming, which has increased the demand for organic fertilizers in the region. For example, the US Department of Agriculture (USDA) provides educational materials to help organic farmers to become more aware of the latest organic farming practices. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Biofertilizers Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Application (Seed treatment and Soil treatment), Product (Nitrogen-fixing biofertilizers, Phosphate-solubilizing biofertilizers, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the seed treatment segment will be significant during the forecast period. This is because organic fertilizers are applied directly to the seeds. Also, it improves the quality and access of vital nutrients and healthy bacteria. This treatment allows plants to grow healthier and better resist disease and pests. Moreover, its growing popularity among farmers is due to the seed treatment's ability to improve seed quality, plant health, and overall crop productivity. Hence, these factors are expected to drive segment growth during the forecast period.
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Biofertilizers Market – Market Dynamics
Key Drivers
The increasing demand for biofertilizers from developing countries is a key factor driving market growth. This is due to the rising demand for biofertilizers from countries such as China, India, Brazil, Indonesia, and Pakistan to meet growing food demand. Growing demand for high-quality fertilizers and utilization of irrigation utilizing technology such as micro-drip irrigation is expected to boost the demand for organic fertilizers. In addition, the shift from grain-based diets to high-protein diets has increased the use of organic fertilizers, especially in China and India. Hence, such factors are expected to drive market growth during the forecast period.
Major Trends
The growing adoption of organic farming is a major trend in the market. The increased growth rate of plant production leads to rapid loss of phytonutrients, affecting plant nutrient content. Therefore, most farmers use various chemical fertilizers and inorganic fertilizers such as ammonia to compensate for this nutrient loss and increase crop yields. This has a bad effect on the soil. As a result, farmers are gradually starting to turn to organic farming. Government initiatives also support organic farming. Hence, this trend is expected to drive market growth during the forecast period.
Significant Challenges
Health concerns regarding the use of nitrogenous fertilizers are a significant challenge restricting market growth. Nitrogen fertilizers contain various types of chemicals, such as ammonia that are used to increase yields and crop production. They cause serious health problems, such as respiratory disease by entering the food chain. Furthermore, it takes a long time for the chemicals in fertilizers to break down and become biodegradable. Hence, environmental and health concerns associated with the use of nitrogenous fertilizers are expected to restrict market growth during the forecast period.
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What are the key data covered in this Biofertilizers Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the biofertilizers market between 2023 and 2027
- Precise estimation of the size of the biofertilizers market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the biofertilizers market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of biofertilizers market companies
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Related Reports:
The organic fertilizers market is estimated to grow at a CAGR of 16.57% between 2022 and 2027. The market size is forecast to increase by USD 17,152.86 million. Furthermore, this report extensively covers market segmentation by application (fruits and vegetables, cereals and grains, oilseeds and pulses, and others), type (dry and liquid), and geography (Europe, APAC, North America, South America, and Middle East and Africa). The stringent regulations and policies on the use of inorganic fertilizers is a key factor driving market growth during the forecast period.
The agricultural biologicals market is estimated to grow by USD 10,457.38 million between 2022 and 2027 accelerating at a CAGR of 14.24% during the forecast period. Furthermore, this report extensively covers market segmentation by type (biopesticides, biofertilizers, and biostimulants), application (cereals and grains, fruits and vegetables, oilseeds and pulses, and other crops), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing prices of chemical fertilizers and pesticides is a key factor driving the market growth during the forecast period.
Biofertilizers Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.76% |
Market growth 2023-2027 |
USD 1,881.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
11.02 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, India, Spain, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alltech Inc., Bioceres Crop Solutions Corp., Biomaxnaturals, Blacksmith Bioscience Inc., Corteva Inc., EnviroKure Inc., Futureco Bioscience SA, Gujarat State Fertilizers and Chemicals Ltd., Kiwa Bio-Tech Products Group Corp., Lallemand Inc., Madras Fertilizers Ltd., Mapleton Agri Biotec Pty Ltd., Monarch Bio Energy LLC, National Fertilizers Ltd., Novozymes AS, NutriAg Group Ltd., PUSHPA J. SHAH, Rashtriya Chemicals and Fertilizers Ltd., SOM Phytopharma India Ltd., and Utkarsh Agrochem Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of companies included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global biofertilizers market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global biofertilizers market 2017 - 2021 ($ million)
- 4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.3 Product Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Seed treatment - Market size and forecast 2022-2027
- Exhibit 34: Chart on Seed treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Seed treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Seed treatment - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Seed treatment - Year-over-year growth 2022-2027 (%)
- 6.4 Soil treatment - Market size and forecast 2022-2027
- Exhibit 38: Chart on Soil treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Soil treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Soil treatment - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Soil treatment - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Application
- Exhibit 42: Market opportunity by Application ($ million)
- Exhibit 43: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Product
- 7.1 Market segments
- Exhibit 44: Chart on Product - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Product - Market share 2022-2027 (%)
- 7.2 Comparison by Product
- Exhibit 46: Chart on Comparison by Product
- Exhibit 47: Data Table on Comparison by Product
- 7.3 Nitrogen-fixing biofertilizers - Market size and forecast 2022-2027
- Exhibit 48: Chart on Nitrogen-fixing biofertilizers - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Nitrogen-fixing biofertilizers - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Nitrogen-fixing biofertilizers - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Nitrogen-fixing biofertilizers - Year-over-year growth 2022-2027 (%)
- 7.4 Phosphate-solubilizing biofertilizers - Market size and forecast 2022-2027
- Exhibit 52: Chart on Phosphate-solubilizing biofertilizers - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Phosphate-solubilizing biofertilizers - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Phosphate-solubilizing biofertilizers - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Phosphate-solubilizing biofertilizers - Year-over-year growth 2022-2027 (%)
- 7.5 Others - Market size and forecast 2022-2027
- Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Product
- Exhibit 60: Market opportunity by Product ($ million)
- Exhibit 61: Data Table on Market opportunity by Product ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 India - Market size and forecast 2022-2027
- Exhibit 95: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.11 Spain - Market size and forecast 2022-2027
- Exhibit 99: Chart on Spain - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Spain - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Spain - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Spain - Year-over-year growth 2022-2027 (%)
- 9.12 Italy - Market size and forecast 2022-2027
- Exhibit 103: Chart on Italy - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on Italy - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on Italy - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ million)
- Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 112: Impact of key risks on business
12 Vendor Analysis
- 12.1 Companies covered
- Exhibit 113: Companies covered
- 12.2 Market positioning of companies
- Exhibit 114: Matrix on vendor position and classification
- 12.3 Alltech Inc.
- Exhibit 115: Alltech Inc. - Overview
- Exhibit 116: Alltech Inc. - Product / Service
- Exhibit 117: Alltech Inc. - Key offerings
- 12.4 Bioceres Crop Solutions Corp.
- Exhibit 118: Bioceres Crop Solutions Corp. - Overview
- Exhibit 119: Bioceres Crop Solutions Corp. - Business segments
- Exhibit 120: Bioceres Crop Solutions Corp. - Key offerings
- Exhibit 121: Bioceres Crop Solutions Corp. - Segment focus
- 12.5 Biomaxnaturals
- Exhibit 122: Biomaxnaturals - Overview
- Exhibit 123: Biomaxnaturals - Product / Service
- Exhibit 124: Biomaxnaturals - Key offerings
- 12.6 Blacksmith Bioscience Inc.
- Exhibit 125: Blacksmith Bioscience Inc. - Overview
- Exhibit 126: Blacksmith Bioscience Inc. - Product / Service
- Exhibit 127: Blacksmith Bioscience Inc. - Key offerings
- 12.7 Corteva Inc.
- Exhibit 128: Corteva Inc. - Overview
- Exhibit 129: Corteva Inc. - Business segments
- Exhibit 130: Corteva Inc. - Key news
- Exhibit 131: Corteva Inc. - Key offerings
- Exhibit 132: Corteva Inc. - Segment focus
- 12.8 EnviroKure Inc.
- Exhibit 133: EnviroKure Inc. - Overview
- Exhibit 134: EnviroKure Inc. - Product / Service
- Exhibit 135: EnviroKure Inc. - Key offerings
- 12.9 Futureco Bioscience SA
- Exhibit 136: Futureco Bioscience SA - Overview
- Exhibit 137: Futureco Bioscience SA - Product / Service
- Exhibit 138: Futureco Bioscience SA - Key offerings
- 12.10 Gujarat State Fertilizers and Chemicals Ltd.
- Exhibit 139: Gujarat State Fertilizers and Chemicals Ltd. - Overview
- Exhibit 140: Gujarat State Fertilizers and Chemicals Ltd. - Business segments
- Exhibit 141: Gujarat State Fertilizers and Chemicals Ltd. - Key offerings
- Exhibit 142: Gujarat State Fertilizers and Chemicals Ltd. - Segment focus
- 12.11 Kiwa Bio Tech Products Group Corp.
- Exhibit 143: Kiwa Bio Tech Products Group Corp. - Overview
- Exhibit 144: Kiwa Bio Tech Products Group Corp. - Product / Service
- Exhibit 145: Kiwa Bio Tech Products Group Corp. - Key offerings
- 12.12 Lallemand Inc.
- Exhibit 146: Lallemand Inc. - Overview
- Exhibit 147: Lallemand Inc. - Product / Service
- Exhibit 148: Lallemand Inc. - Key offerings
- 12.13 Madras Fertilizers Ltd.
- Exhibit 149: Madras Fertilizers Ltd. - Overview
- Exhibit 150: Madras Fertilizers Ltd. - Business segments
- Exhibit 151: Madras Fertilizers Ltd. - Key offerings
- Exhibit 152: Madras Fertilizers Ltd. - Segment focus
- 12.14 Mapleton Agri Biotec Pty Ltd.
- Exhibit 153: Mapleton Agri Biotec Pty Ltd. - Overview
- Exhibit 154: Mapleton Agri Biotec Pty Ltd. - Product / Service
- Exhibit 155: Mapleton Agri Biotec Pty Ltd. - Key offerings
- 12.15 Novozymes AS
- Exhibit 156: Novozymes AS - Overview
- Exhibit 157: Novozymes AS - Business segments
- Exhibit 158: Novozymes AS - Key news
- Exhibit 159: Novozymes AS - Key offerings
- Exhibit 160: Novozymes AS - Segment focus
- 12.16 Rashtriya Chemicals and Fertilizers Ltd.
- Exhibit 161: Rashtriya Chemicals and Fertilizers Ltd. - Overview
- Exhibit 162: Rashtriya Chemicals and Fertilizers Ltd. - Business segments
- Exhibit 163: Rashtriya Chemicals and Fertilizers Ltd. - Key offerings
- Exhibit 164: Rashtriya Chemicals and Fertilizers Ltd. - Segment focus
- 12.17 SOM Phytopharma India Ltd.
- Exhibit 165: SOM Phytopharma India Ltd. - Overview
- Exhibit 166: SOM Phytopharma India Ltd. - Product / Service
- Exhibit 167: SOM Phytopharma India Ltd. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 168: Inclusions checklist
- Exhibit 169: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 170: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 171: Research methodology
- Exhibit 172: Validation techniques employed for market sizing
- Exhibit 173: Information sources
- 13.5 List of abbreviations
- Exhibit 174: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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