The global biofertilizers market size is projected to grow from USD 1.79 billion in 2021 to reach 3.98 billion by 2028, exhibiting a CAGR of 12.03% during the forecast period. Rising demand for organic products and increasing concerns regarding the negative impact of chemical fertilizers are expected to boost market growth. Fortune Business Insights™ provides this information in its report titled "Biofertilizers Market, 2021-2028." The market size stood at USD 1.60 billion in 2020.

Biofertilizers are organic fertilizers that boost the crop's quality and have minimal effect on the environment. Robust demand for organic products from the agricultural sector is anticipated to increase sales. Biofertilizers provide excellent protection against pesticides and boost the crop's quality. The rising concerns regarding the negative impacts of fertilizer on the environment are expected to boost its adoption. Evolving consumer preferences and rising demand for healthy and high-quality crops are anticipated to fuel the market growth. Further, the adoption of organic fertilizers increases the nutrients in the soil and boosts fertility. In addition, concerns regarding the health concerns of chemical fertilizers may lead to the adoption of organic fertilizers. These factors are predicted to fuel market growth.

List of Key Players Profiled in the Market Report

Novozymes A/S (Copenhagen, Denmark)
Bioceres Crop Solutions (Argentina)
Lallemand Inc. (Montreal, Canada)
BioWorks Inc. (New York, U.S.)
Gujarat State Fertilizers & Chemicals Ltd (Gujarat, India)
Camson Bio Technologies Ltd (Karnataka, India)
Agri Life (Telangana, India)
Agrinos AS (Oslo, U.S.)
Symborg (California, U.S.)
Lallemand Inc. (Toronto, Canada)
Segmentation

By type, the market is segmented into phosphate solubilizers, nitrogen-fixing, and others. By microorganism, it is classified into VAM, bacillus, pseudomonas, AZ spirillum, azotobacter, rhizobium, and others. Based on application, it is categorized into soil treatment, seed treatment, and others. According to crop type, it is divided into fruits & vegetables, pulses & oilseeds, cereals, and others. Region-wise, it is studied across Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

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