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Biofertilizers Market by Product (Nitrogen-fixing, Phosphate-solubilizing, Potash-mobilizing, Others), by Crop (Cereals & grains, Pulses & oil seeds, Fruits & vegetables, Others), by Form (Dry, Liquid), by Application (Seed treatment, Soil treatment, Others), by North America (U.S., Canada), by Europe (Germany, UK, France, Italy, Spain, Ukraine, Kazakhstan, Turkey, Bulgaria, Greece, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, South Korea, Malaysia, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (Saudi Arabia, South Africa, Egypt, Tunisia, Rest of MEA) Forecast 2025-2033
The size of the Biofertilizers Market was valued at USD 2.31 Billion in 2023 and is projected to reach USD 4.09 Billion by 2032, with an expected CAGR of 8.5% during the forecast period. The Biofertilizers industry focuses on utilizing natural or biologically sourced products to improve soil fertility and boost plant growth via microorganisms' action. These fertilizers, containing bacteria, fungi, and algae, function by nitrogen fixation, organic matter decomposition, or enhancing soil nutrient availability. Biofertilizers are becoming increasingly popular due to the rising interest in sustainable agriculture, organic farming methods, and environmentally friendly options instead of chemical fertilizers. These items provide numerous advantages such as boosting soil quality, decreasing reliance on chemicals, increasing crop production, and reducing environmental contamination. Growing concern about environmental problems like soil degradation and water pollution, along with a growing demand for organic and chemical-free food options, is driving the market even more. In modern farming, biofertilizers are increasingly crucial as the agricultural sector aims to enhance productivity and decrease its environmental impact. Due to advancements in biotechnology and continuous research on new microbial strains, the biofertilizers market is projected to witness significant growth in the near future as a result of the demand for more sustainable and resource-efficient agricultural methods.
The Biofertilizers Market is characterized by a few major players holding a significant market share:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 8.5% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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