Biofertilizers Market Revenue to Cross USD 4,744.43 Mn by 2028

Growing Demand for Organic Food Globally to Drive Biofertilizers Market During 2021–2028

NEW YORK, UNITED STATES, February 14, 2022 /EINPresswire.com/ -- The scope of our recent study, titled "Biofertilizers Market to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteria, and Others), Crop Type (Cereals and Grains, Oil seeds and Pulses, Fruits and Vegetables, and Others), and Application (Seed Treatment, Soil Treatment, and Others)" consists of the factors fueling the biofertilizers market growth, revenue estimation and forecast, and market share analysis. It also includes the identification of significant market players along with their key developments.

Strategic Insights

Market Size Value in - US$ 1,996.13 million in 2021
Market Size Value by - US$ 4,744.43 million by 2028
Growth rate - CAGR of 12.3% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 144
No. Tables - 83
No. of Charts & Figures - 60
Historical data available - Yes
Segments covered - Product Type, Microorganism, Crop Type, and Application
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Growing prices of synthetic and chemical-based fertilizers and increasing adoption of chemical-free foods globally are projected to remain key factors boosting the consumption of biofertilizers in the coming years. With the rapidly rising global population, food scarcity remains a critical issue for governments around the globe. This has led to innovations in terms of product development in the bio-based fertilizer sector and the promotion of environment-friendly agricultural solutions to the major agrarian economies. Hence, the aforementioned factors are anticipated to augment the demand for biofertilizers across all agricultural economies over the forecast period.

Rapid growth of organic farming is propelling the market growth

Organic farming is basically a method that includes growing and nurturing crops with the utilization of biological materials and products and eliminates the use of synthetic-based fertilizers and pesticides. Organic farming is being increasingly adopted as it provides healthy and high-quality food products. Along with this, organic farming provides several environmental benefits such as it improves soil fertility, combating soil erosion, and reducing greenhouse gas emissions. The demand for organic products is increasing which is not only due to the increase in conscientious consumers but also due to rising incomes which has increased the area under organic farming. According to the report of World of Organic Agriculture, by the Research Institute of Organic Agriculture (FiBL) and IFOAM, in 2019, 72,3 million hectares were under organic agricultural management across the world.

Impact of COVID-19 Pandemic on Biofertilizers Market

COVID-19 has initially restricted the manufacturing and supply chain of the biofertilizers market globally. However, the biofertilizers market has restored its operational activities by the end of 2020 and sustained its growth rate. Additionally, ease in lockdown restrictions by several countries has resumed many economies globally, and the demand for biofertilizers is surging gradually. Hence, the impact of the COVID-19 has very minimal compared to the whole chemical industry.

Download the Latest COVID-19 Analysis on Biofertilizers Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00006946/?utm_source=EINPressWire&utm_medium=10357

Biofertilizers Market: By Product Type

The product type segment of the global Biofertilizers market is bifurcated into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. The nitrogen fixing segment led the biofertilizers market with the largest revenue share of the biofertilizers market in 2020.

Biofertilizers Market: Competitive Landscape and Key Developments

AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd; Novozymes; Rizobacter; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA. are the key players in the Biofertilizers market.

The "Biofertilizers market analysis to 2028" is a specialized and in-depth study of the chemicals & material industry, focusing on global market trend analysis. The report aims to provide an overview of the biofertilizers market with detailed market segmentation based on product type, microorganism, crop type, application, and geography. Based on product type, the global biofertilizers market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. Based on microorganism, the global biofertilizers market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. Based on crop type, the global biofertilizers market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. Further, based on application, the global Biofertilizers market is segmented into seed treatment, soil treatment, and others.

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