|Fastest Growing Market:||Europe|
|Largest Market:||North America|
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The Global Biofertilizers Market is projected to witness a CAGR of 12.1% during the forecast period (2022-2027). Due to the COVID-19 pandemic, there has been a supply chain disruption because of which the agricultural sector had to face problems such as labor unavailability, transportation barriers, restriction on market access, and lack of inventories in some regions, which slightly affected the growth of the biofertilizers market.
Increased practice of organic farming, the need for improving soil organic matter, and favorable regulatory structure are the major factors driving the market. Also, with the advent of integrated pest management programs that promote the use of biofertilizers, the agriculture sector is expected to witness increased use of biofertilizers. Most European and North American and some Asian countries have established suitable regulations to control the use of synthetic chemicals for crop protection and hence create a promising business ecosystem for biofertilizers. Governments in many countries are providing various schemes for encouraging the manufacturers of biofertilizers and are taking several initiatives to bring about a shift from conventional farming practices to organic farming practices. Hence, the increased adoption of organic farming and a favorable regulatory environment is anticipated to drive the growth of the market studied during the forecast period.
Scope of the Report
Biofertilizers are defined as substances comprising living microbes, which, when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients. The report provides an in-depth analysis of the various parameters of the global biofertilizers market. The Global Biofertilizers Market is segmented by Microorganism (Rhizobium, Azotobacter, Azospirillum, Blue-green Algae, Phosphate Solubilizing Bacteria, Mycorrhiza, and Other Microorganisms), Technology Type (Carrier Enriched Biofertilizers, Liquid Biofertilizers, and Other Technology Types), Application (Seed Treatment and Soil Treatment), Crop Type (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, and Other Crop Types), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecasts in terms of value in USD million for the above-mentioned segments.
|Phosphate Solubilizing Bacteria|
|Carrier Enriched Biofertilizers|
|Other Technology Types|
|Grains and Cereals|
|Pulses and Oilseeds|
|Fruits and Vegetables|
|Other Crop Types|
Key Market Trends
Increasing Organic Farm Land
The rise in demand for organic products is booming, not only due to the increase in conscientious consumers but also due to rising incomes, along with improved farming practices that make organic yields more robust. As a result, the increasing demand for organic food worldwide has increased the area under organic farming. For instance, as per the FiBL statistics, the area under global organic farming increased from 69.4 million hectares in 2017 to 74.9 million hectares in 2020. The factor such as the increase in organic farming practices resulted in improved soil fertility, along with the extensive usage of organic products, like biofertilizers. This has further triggered the demand for biofertilizer products, as they are organic and help in maintaining the ecological balance. Government bodies across the world are taking initiatives to promote the use of biofertilizers. In 2020, the Government of India announced to make the purchase of bio-fertilizers compulsory for every farmer who buys urea to promote organic nutrients and shrink the use of chemical fertilizers. Similarly, in Europe, the government is emphasizing the use of biological control methods for disease management. The Common Agricultural Policy promotes the sustainable use of plant protection products and restricts synthetic fertilizers while promoting the use of biofertilizers and organic farming. Therefore, the rising organic farming practices and the growing awareness among consumers over health, environmental, quality, and safety, coupled with favorable government policies, are anticipated to boost the biofertilizers market at a phenomenal rate in the forecast period.
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North America Dominates the Biofertilizers Market
The US Department of Agriculture launched a National Organic Program to certify farmland for the growers that were in the process of switching to organic in 2017. According to the Organic Trade Association, through the certification, farmers may be able to sell products for higher prices than conventionally-grown goods. Such programs are expected to expand the use of biofertilizers, subsequently expanding the market in the United States. The rhizobium-based biofertilizers occupy the major share of biofertilizers used in the country. The genera popularly used are Bradyrhizobium, sinorhizobium, azorhizobium, mesorhizobium, and allorhizobium. The major players are expanding their presence in the country through various business strategies, such as mergers and acquisitions, partnerships, and new product launches. For instance, in 2019, Valent BioSciences launched its new product called MycoApply Ultrafine Endo/Ecto. In the United States, mycorrhiza fertilizers are most used in horticultural crops. The greenhouse vegetable sector is the fastest-growing sector in Canadian horticulture. In 2019, there were a total of 838 commercial greenhouse vegetable operations with 17.6 million square meters of production area. The usage of mycorrhizal fungi proved to increase yields and provide sustainable growing conditions in organic and hydroponic production systems. Hence, the usage of mycorrhiza biofertilizers can be a viable option for greenhouse growers in this region. Similarly, an increase in the consumption of bio-based plant nutrition in the past two years was observed in Mexico. Rhizobium and Mycorrhiza are the popular biofertilizers used in the country due to the cost-effectiveness of these bio-based solutions. Therefore, with the rising demand for cost-effective agricultural solutions and new innovative technologies to produce biofertilizers, the biofertilizers market in the region is anticipated to grow significantly during the forecast period.
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The Global Biofertilizers Market is fragmented, with many small and large players present across different geographical regions. Kiwa Bio-Tech Products Group Corporation, Lallemand Inc., Bayer CropScience, Rizobacter, and BASF SE are some of the major companies in the market. These major players are investing in new products and improvisation of products, expansions, and acquisitions for business expansions. Another major area of investment is the focus on R&D to launch new products at lower prices.
In May 2021, Rizobacter Argentina SA launched a new specialty fertilizer Microstar Bio, where biologicals are combined with the fertilizers. The product contains bacillus strains incorporated in the micro granules and helps in root growth and nutrient use efficiency.
In January 2021, Lallemand Inc. acquired Biotec BetaGlucans AS (BBG), a wholly-owned subsidiary of the ArticZymes Technologies ASA (AZT) company specialized in the development, production, and sales of high purity beta-glucan products, from yeast cell walls.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Competitive Rivalry
5. MARKET SEGMENTATION
5.1.4 Blue-green Algae
5.1.5 Phosphate Solubilizing Bacteria
5.1.7 Other Microorganisms
5.2 Technology Type
5.2.1 Carrier Enriched Biofertilizers
5.2.2 Liquid Biofertilizers
5.2.3 Other Technology Types
5.3.1 Seed Treatment
5.3.2 Soil Treatment
5.4 Crop Type
5.4.1 Grains and Cereals
5.4.2 Pulses and Oilseeds
5.4.3 Fruits and Vegetables
5.4.4 Plantation Crops
5.4.5 Other Crop Types
5.5.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.5.4 South America
22.214.171.124 Rest of South America
126.96.36.199 South Africa
188.8.131.52 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Lallemand Inc.
6.3.2 Bioworks Inc.
6.3.4 Bayer CropScience LLC
6.3.5 Sumitomo Chemical Co. Ltd
6.3.6 BASF SE
6.3.7 FMC Corporation
6.3.8 Syngenta AG
6.3.9 Pivot Bio
6.3.10 Rizobacter Argentina SA
6.3.11 Kiwa Bio-Tech Products Group Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF THE IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Biofertilizers Market market is studied from 2017 - 2027.
What is the growth rate of Global Biofertilizers Market?
The Global Biofertilizers Market is growing at a CAGR of 12.1% over the next 5 years.
Which region has highest growth rate in Global Biofertilizers Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Biofertilizers Market?
North America holds highest share in 2021.
Who are the key players in Global Biofertilizers Market?
Bayer CropScience, Kiwa Bio-Tech Products Group Corporation, Lallemand Inc., Agrinos, Rizobacter Argentina SA are the major companies operating in Global Biofertilizers Market.