Market Size of biofertilizer Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 3.27 Billion |
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Market Size (2029) | USD 5.23 Billion |
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Largest Share by Form | Mycorrhiza |
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CAGR (2024 - 2029) | 9.85 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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.
