Upcoming Growth Trends in the Biofertilizers Market

The biofertilizers market is estimated to be valued at USD 2.3 billion in 2020 and is projected to reach USD 3.9 billion by 2025, recording a CAGR of 11.6% during the forecast period.

Posted on 2020-07-17 by MarketsandMarkets in Agriculture // 0 Comments

Northbrook, USA, 2020-Jul-17 — /EPR Network/ — The biofertilizers market is estimated to be valued at USD 2.3 billion in 2020 and is projected to reach USD 3.9 billion by 2025, recording a CAGR of 11.6% during the forecast period. The market is driven primarily by the increasing organic farmland as well as the rising acceptance of biofertilizers among farmers.

Biofertilizers Market Dynamics:

Driver: Growth in the organic food industry

Consumers, nowadays, are becoming highly concerned about food safety issues, the rising residue levels in food, and environmental issues, due to the rising concerns about their health. This rise in awareness has induced them to prefer chemical-free food products. With the outbreak of COVID-19 pandemic, people have become more conscious about healthy organic food products, which has driven the market growth of biological inputs, such as biofertilizers. These factors have increased organic retail sales in many countries, such as the US, Germany, China, Switzerland, and Denmark.

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Constraint: Environmental and technological constraints

Biofertilizer products have a limited shelf-life and run a high risk of contamination. The microorganisms used as biofertilizers become non-viable when exposed to high temperature. Therefore, it is very important to store them in a cool and dry place. The major problem in the agricultural inoculation technology is the survival of microorganisms during storage; other challenges revolve around several parameters such as culture medium, physiological state of the microorganisms when harvested, dehydration process, rate of drying, temperature maintenance during storage, and water activity of inoculants. These challenges influence the shelf-life of microbes.

Opportunity: New target markets: Asia Pacific & Africa

The Asia Pacific and African regions are the largest consumers of fertilizers. The increasing rate of population, especially in Asia, has resulted in the increasing demand for food, which would, in turn, lead to the increased consumption of fertilizers. However, the major concerns in this region are pollution and contamination of soil as well as their harmful effects on human beings. To combat the harmful effects of chemical fertilizers, governments in these regions are emphasizing on the use of environmental-friendly fertilizers, such as biofertilizers and organic manure.

With the increasing demand for organic food products, North America is estimated to dominate the biofertilizers market in 2020

Changing lifestyle and increasing buying power among consumers has increased the demand for biofertilizers. High adoption of advanced irrigation systems such as drip & sprinkler irrigation and widespread acceptance of biofertilizers among the farmers is further propelling the market growth. The farmers in this region are highly skilled in terms of knowledge and machinery. Due to the rampant use of chemical fertilizers, the fertility of the soil is declining. To maintain soil fertility as well as the yield of crops, farmers are sustainably opting for biofertilizers.

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This report includes a study of the development strategies of leading companies. The scope of this report consists of a detailed study of biofertilizer manufacturers such as Novozymes (Denmark), Kiwa-Biotech (China), Rizobacter Argentina S.A (Argentina), Lallemand Inc. (Canada) and Symborg (Spain).

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