Upcoming Growth Trends in the Biofertilizers Market

The biofertilizers market is projected to reach USD 3.9 billion by 2025, from USD 2.3 billion in 2020, recording a CAGR of 11.6%

Northbrook, USA, 2021-Jan-18 — /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

COVID-19 impact on Biofertilizers market

COVID-19 has impacted the businesses of biofertilizer companies up to some extent. Though this pandemic situation has impacted their businesses, there is no significant impact on the global operations and supply chain of their biofertilizers. Multiple manufacturing facilities of players are still in operation. The service providers are providing biofertizer products by following safety and sanitation measures.

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Higher consumption of biofertilizers for organic fruits & vegetables contributes to the growth of the biofertilizers market in this segment

Biofertilizers have proved to be useful in numerous ways, including improving the quality, shelf-life, and yield of fruits & vegetables. The increasing trend of consumer preferences for organic fruits & vegetables due to changing lifestyle and rising per capita income is the primary factor driving market growth. A rising trend in the cultivation of organic fruits & vegetables and those under IPM practices have also created a positive impact on the growth of the biofertilizers market.

Based on the mode of application, the soil treatment segment is projected to witness higher growth in the biofertilizers market

Soil treatment methods increase the crop yield and help in fetching better results. When applied to the soil, it increases the availability of nutrients and improves the yield by 10 to 25% without adversely affecting the soil as well as the environment. Soil treatment is used mainly in the Asian region due to rampant use of traditional agriculture methods in the current farming system. Thus, the market for biofertilizers with soil treatment mode of application is estimated to propel during the forecast period.

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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.

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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