Biofertilizers Market: Current Analysis and Forecast (2021-2027)

Biofertilizers comprises living microbes, which when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients. The rise in demand for organic products is booming, due to the increase in conscientious consumers, but also due to rising incomes, along with improved farming practices that make organic yields more robust. A total of 71.5 million hectares were organically managed at the end of 2018, representing a growth of 2.9 percent or 2 million hectares compared to 2017. Australia has the largest organic agricultural area (35.7 million hectares), followed by Argentina (3.6 million hectares), and China (3.1 million hectares). Due to the large area of organic farmland in Australia, half of the global organic agricultural land is in Oceania (36.0 million hectares). Europe has the second largest area (15.6 million hectares), followed by Latin America (8 million hectares). The organic area increased in all continents compared to 2017.
Globally, 1.5 percent of farmland is organic. However, many countries have far higher shares. As per IFOAM survey 2020, he countries with the largest organic share of their total farmland are Liechtenstein (38.5%), Samoa (34.5%), and Austria (24.7%). In sixteen countries, 10% or more of all agricultural land is organic
Based on product, the global Biofertilizers market is segmented into nitrogen fixing biofertilizers, phosphorus biofertilizers, compost biofertilizers, and liquid biofertilizers. Currently, nitrogen fixing biofertilizers segment dominated the market and is expected to maintain its dominance during the forecast period owing to the improvement of highly contaminated soil and water reserves due to use of synthetic fertilizers
Based on microorganisms, the market is divided into rhizobium, azotobacter, azospirillum, cyanobacter, mycorrhiza, phosphate solubilizing bacteria, and other microorganisms. Cyanobacter-based biofertilizers dominated the market in 2020 owing to reduced input cost and increase the bioavailability of phosphorus
Based on crop, the market is segmented into fruits & vegetables, pulses & oilseed, and cereals & grains. Currently cereals & grains dominates the market and is expected to maintain its dominance during the analyzed period as the cereal and grains cultivation provides high vegetation growth, and high photosynthesis activity. However, pulses and oil seeds are expected to experience fastest growth during the forecast period owing to the Growing demand for soybean, sunflower, and groundnuts
Based on application, the market is divided into seed treatment, soil treatment, and others. Seed treatment segment dominated the market in 2020 owing to the benefits of induced nutritional values in the seeds
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for Biofertilizers on account of increasing government interventions in farming practices
Some of the major players operating in the market includes Novozyme, National Fertilizers Limited, Agrinos AS, Camson Bio Technologies Limited, Kiwa Bio-Tech Products group Corporation, Lallemand Inc, Rizobacter Argentina S.A., Monsanto BioAg, Mapleton Agribiotech, Valent BioSciences; etc.