Biofertilizers Market by Type (Nitrogen Fixing, Phosphate Solubilizers, and Others), by Microorganism (Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM, and Others), by Application (Seed Treatment, Soil Treatment, and Others), by Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), by North America (U.S., Canada, Mexico), by Europe (Spain, Italy, France, Germany, U.K., Russia, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, Rest of Asia Pacific), by South America (Brazil, Argentina, Rest of South America), by Middle East & Africa (South Africa, Israel, Rest of the Middle East & Africa) Forecast 2024-2032
The Biofertilizers Market size was valued at USD 2.26 USD Billion in 2023 and is projected to reach USD 5.05 USD Billion by 2032, exhibiting a CAGR of 12.17 % during the forecast period. The market for biofertilizers is increasingly gaining volume caused by the greater appetite for organic food and the search for sustainable agricultural methods. The function of biofertilizers or natural fertilizers which are living microorganisms to support soil fertility leads the plants to absorb the necessary nutrients. They are clean, and farm-friendly, and promote plant growth by transforming atmospheric Nitrogen into plant consumable form, solubilizing unavailable inorganic phosphorus, and producing growth hormones. Biofertilizers consist of bacteria that fix nitrogen, disintegrate phosphate, and free potassium, and form relationships with mycorrhizal fungi. The types of crops that use the above are enormous. Their use diminishes the existing dependency on chemical fertilizers, which in turn not only contributes to the replenishment of the natural soil conditions but also increases the yield of crops and the quality of food. Furthermore, the use of bacterial amendments increases the efficiency of one’s agricultural ventures, saves natural resources, and prevents environmental pollution.
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The comprehensive Biofertilizers Market report offers:
The Asia-Pacific region is expected to dominate the global biofertilizers market, followed by North America and Europe.
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of % from 2018-2032 |
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