IMARC Group, a leading market research company, has recently releases report titled “Biofertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biofertilizer market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Biofertilizer Market?

The global biofertilizer market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2028, exhibiting a growth rate (CAGR) of 12.8% during 2023-2028.

What is Biofertilizer?

Biofertilizers are natural substances that use microorganisms to enhance the nutrient quality of soil. They are an eco-friendly alternative to chemical fertilizers and are used to improve the fertility of the land by fixing atmospheric nitrogen, solubilizing phosphorus, and activating soil nutrients. Biofertilizers contain live strains of beneficial bacteria, fungi, or algae, which form symbiotic relationships with plant roots to facilitate nutrient absorption. They contribute to sustainable agriculture by reducing the dependence on synthetic fertilizers, thereby minimizing soil and water pollution. Common types of biofertilizers include Rhizobium, Azotobacter, Azospirillum, and Mycorrhiza. Not only do biofertilizers enrich the nutrient content of the soil, but they also enhance root development and improve plant growth and yield.

Request for a Free PDF Sample Report: https://www.imarcgroup.com/biofertilizer-azotobacter-and-rhizobium-manufacturing-plant/requestsample

What are the Growth Prospects and Trends in the Biofertilizer Industry?

The growing consumer preference for organic products is leading to an expansion of organic farming which represents one of the key factors driving the growth of the market across the globe. Biofertilizers are a crucial component of organic agriculture, thus making them indispensable for meeting the demand for organic produce. The rising awareness of the environmental impact of chemical fertilizers has prompted a shift towards biofertilizers. Farmers and policymakers are increasingly recognizing the importance of sustainable agricultural practices to reduce soil and water pollution. Biofertilizers, containing beneficial microorganisms like bacteria and fungi, enhance soil fertility and structure. As the world grapples with declining soil quality due to the overuse of synthetic fertilizers, biofertilizers offer a natural solution to replenish essential nutrients. Governments worldwide are implementing regulations to limit the use of synthetic chemicals in agriculture. This is creating a conducive environment for the growth of the market, with subsidies and incentives for farmers to adopt organic farming methods.

Who are the Key Players Operating in the Biofertilizer Market?

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

• Novozymes A/S
• National Fertilizers Limited
• Madras Fertilizers Limited
• Gujarat State Fertilizers & Chemicals Ltd.
• Rizobacter Argentina S.A.
• Stanes & Company Limited
• Camson Bio Technologies Limited
• Rashtriya Chemicals & Fertilizers Ltd.
• Lallemand Inc.
• Nutramax Laboratories, Inc.

What is Included in Market Segmentation?

The report has categorized the market based on type, crop, microorganism and mode of application.

Breakup by Type:

• Nitrogen-fixing biofertilizers
• Phosphate-fixing biofertilizers
• Others

Analysed by Crop:

• Cereals and grains
• Pulses and oilseeds
• Fruits and vegetables
• Others

Based on Microorganism:

• Cyanobacter
• Rhizobium
• Phosphate Solubilizing Bacteria
• Azotobacter
• Others

Market by Mode of Application:

• Seed treatment
• Soil treatment
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Others

Key Highlights of The Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Website: https://www.imarcgroup.com/

Follow us on twitter: @ImarcServices

LinkedIn: https://www.linkedin.com/company/imarc-group