Biofertilizer Market Size

Statistics for the 2023 & 2024 Biofertilizer market size, created by Mordor Intelligence™ Industry Reports. Biofertilizer size report includes a market forecast to 202 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

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Market Size of biofertilizer Industry

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Biofertilizer Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 3.27 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 5.23 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Form Mycorrhiza
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 9.85 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region North America

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Biofertilizer Market Analysis

The Biofertilizer Market size is estimated at USD 3.27 billion in 2024, and is expected to reach USD 5.23 billion by 2029, growing at a CAGR of 9.85% during the forecast period (2024-2029).

  • Mycorrhiza is the Largest Form. Mycorrhiza, also referred to as Arbuscular mycorrhizal fungi (AMF), was proven to increase crop yields significantly. It is the most consumed biofertilizer globally.
  • Rhizobium is the Fastest-growing Form. Rhizobium is the most important nitrogen-fixing bacterium that exists in a symbiotic relationship with plants and lives in the root nodules of leguminous plants.
  • Row Crops is the Largest Crop Type. The major row crops grown around the world include rice, barley, corn, wheat, rapeseed, rye, soybean, etc. and they accounted for 74.6% of biofertilizer consumption in 2022.
  • North America is the Largest Region. The area under cultivation of organic crops in the region had increased by 13.5% during the historic period from 1.4 million hectares in 2017 to 1.6 million hectares in 2021.

Biofertilizer Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis Up to 2029