The market research report on biofertilizers industry assesses the market demand, use cases & trending scenario for the period ranging from 2015 to 2025. The report highlights the historic developments from 2015 to 2018 & market forecast from 2019 to 2025. Furthermore, the report comprises the current status & future prospects of the market at global as well as regional and country levels. The global biofertilizers market is segmented on the basis of product types, applications and geography.
This report also examines various aspects of the biofertilizers industry by assessing the market using value chain analysis and PESTEL analysis. It includes a qualitative narrative on market drivers, market restraints and key industry trends of the biofertilizers industry. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local manufacturers.
Biofertilizers are the substance containing the living/latent cells of micro-organisms. Biofertilizers increase the nutrients of host plants by colonizing the plant's rhizosphere when applied to their seeds, plant surfaces or soil. Compared to chemical fertilizers, biofertilizers are more cost effective. Over the past decades, chemical fertilizers have facilitated farmers to increase the crop yield. Overuse of these fertilizers, however, has proved to be harmful as they cause air and water pollution, as well as deplete essential minerals present in the soil. Therefore, it is necessary to switch to sustainable farming involving the use of biofertilizers.
Biofertilizers were first marketed in North America and Europe, but in parts of Asia Pacific and South America, there is a growing preference for their use. Europe, followed by North America, is the largest market for biofertilizers. These markets together accounted for more than 50% of global revenue. Growing preference for organic food items coupled with growing awareness of the hazards associated with chemical fertilizers and air pollution has resulted in high regional consumption. Furthermore, a strict regulatory scenario has enforced many farmers to implement biofertilizers instead of their chemical counterparts, and this is expected to boost biofertilizer demand over the next decade. The "Common Farming Practice" restricts and limits the use of synthetic fertilizers while encouraging the use of biofertilizers and organic farming.
By product, the biofertilizers market is segmented as nitrogen fixing, solubilizing and others. The market is dominated by nitrogen-fixing biofertilizers, accounting for about 76.9% of global revenue in 2018. In particular, nitrogen-fixing biofertilizers are widely used for both leguminous and non-leguminous crops especially while growing sugarcane & rice. Growth in the nitrogen-fixing segment is attributed to the fact that the most commonly used biofertilizers worldwide are nitrogen-fixing biofertilizers. Also significant R&D efforts have been made over the past few decades which is further fuelling the growth of biofertilizers market.
On the basis of regional analysis of biofertilizers industry, Europe is projected to dominate the market with a share of ~32% over the forecast period. The increasing soil erosion, rising urbanization, soil erosion, nutrient exhaustion and water scarcity is fuelling the demand for biofertilizers across European region. Asia-Pacific is anticipated to grow at the highest CAGR of 13.7% over the forecast period owing to strong demand from developing region such as Japan, China and India.
Some of the top players in the global biofertilizers industry include Lallemand, Inc., Camson Biotechnologies Ltd., Novozymes, Symborg S.L., and National fertilizers limited. Various big and small market players, are making high R&D investments, improving their product portfolios and collaborating with each other, with an attempt to steal profit and market share.
Key segments of the global biofertilizers market
Product Overview, 2015-2025 (USD Million)
- Nitrogen Fixing
Application Overview, 2015-2025 (USD Million)
- Seed Treatment
- Soil Treatment
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Southeast Asia
- Rest of APAC
- Latin America
- Rest of Latin America
- South Africa
- Rest of MEA