Market Size of india biofertilizer Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 10.63 Million |
|
|
Market Size (2029) | USD 16.50 Million |
|
Largest Share by Form | Mycorrhiza |
|
|
CAGR (2024 - 2029) | 9.20 % |
|
|
Fastest Growing by Form | Rhizobium |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
India Biofertilizer Market Analysis
The India Biofertilizer Market size is estimated at 10.63 million USD in 2024, and is expected to reach 16.50 million USD by 2029, growing at a CAGR of 9.20% during the forecast period (2024-2029).
10.63 Million
Market Size in 2024 (USD)
16.50 Million
Market Size in 2029 (USD)
3.98 %
CAGR (2017-2023)
9.20 %
CAGR (2024-2029)
Largest by Form
64.40 %
value share, Mycorrhiza, 2023
The mycorrhizal association helps boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increasing yield.
Fastest by Form
11.23 %
Projected CAGR, Rhizobium, 2024-2029
Rhizobium's symbiotic association with some species of legume crops can fix 200-300 kilograms of nitrogen per year and can reduce dependence on chemical nitrogen fertilizers.
Largest by Crop Type
88.34 %
value share, Row Crops, 2023
The dominance of row crops is mainly due to their large organic cultivation areain the country, which accounted for about 59.8% of the total organic crop area in 2022.
Fastest by Crop Type
9.24 %
Projected CAGR, Row Crops, 2024-2029
There is an increasing trend in the overall organic row crop area in the country, which has increased from 409.2 thousand hectares in 2017 to 424.4 thousand hectares in 2021.
Leading Market Player
24.16 %
market share, Indian Farmers Fertiliser Cooperative Limited, 2022
The biofertilizer products offered by the company are compatible with all types of crops like cereals, horticultural crops and cash crops sold under the IFFCO brand name
- Biofertilizers are organic substances with living microorganisms that promote plant growth. The Indian biofertilizer market value increased by about 11.0% between 2017 to 2021, which can be attributed to various reasons like the increasing awareness among farmers, the increasing overall registered organic farms in India, and a shift in demand for organically or sustainably grown commodities. India ranks fifth in terms of world organic agriculture land and first in terms of the total number of producers as of 2021.
- Mycorrhizal-based biofertilizers dominated the market, which was valued at USD 5.8 million in 2022. This is mainly due to the mycorrhizal association holding the ability to boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increasing yield. It also helps the plant fight against adverse soil conditions. However, Rhizobium and Azospirillum-based biofertilizer market values are anticipated to grow at faster rates compared to other biofertilizers.
- The consumption of biofertilizers is dominant in the row, and it accounted for about 88.3% of the market value in 2022. The dominance of row crops is mainly due to their large cultivation area in the country, which accounted for about 59.8% of the total organic crop area in the same year.
- There is a huge demand for organic products both in domestic and international markets. The overuse of chemical fertilizers is one of the major challenges in the country. The Indian government is promoting sustainable or organic cultivation practices through various schemes or programs by providing incentives for biofertilizers, which would drive the market during the forecast period.
Understand The Key Trends Shaping This Market
