Biofertilizers Market Size, Share, and COVID-19 Impact Analysis, By Microorganism (Blue-green Algae, Rhizobium, Mycorrhiza, Azotobacter, Azospirillum, Phosphate Solubilizing Bacteria, and Other Microorganisms), By Type (Nitrogen Fixing, Phosphate Solubilizers, And Others), By Technology Type (Carrier Enriched Biofertilizers, Liquid Biofertilizers, and Other Technology Types), By Application (Seed Treatment, Soil Treatment, and Others), By Crop Type (Fruits and Vegetables, Grains and Cereals, Pulses and Oilseeds, Commercial Crops and Other Crop Types), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The Global Biofertilizers Market is projected to grow from USD 2.60 billion in 2021 to USD 5.45 billion by 2030 at a CAGR of 12.2% during the forecast period. The biofertilizers market is expanding rapidly in almost every part of the globe. This market is being driven ahead by the demand of the organic food business, the need to increase chemical fertilizers efficiency, as well as the rise in chemical fertilizer dangers such as eutrophication and hypoxic water zones. Furthermore, the rising product demand for biological fertilizers, results from increased demand for organic products. The market is being positively influenced by increased recognition and acceptance of the product among farmers in both developed and developing economies. The use of organic and sustainable fertilizers is being fueled by increased soil and water pollution caused by the overuse of chemical fertilizers. Furthermore, agricultural input producers' active participation in ramping up their production of agricultural biologicals, particularly biofertilizers, is expected to drive market growth.

COVID-19 ANALYSIS

The worldwide market has slowed as a result of the COVID-19 outbreak owing to the socio-economic developments that have occurred during this pandemic. Biofertilizer and organic fertilizer manufacturers confront similar issues as the traditional fertilizer sector due to inconsistencies in raw material supply. Due to the limited number of carriers, price gouging by some logistics companies has become a big issue. Because of the uncertainty surrounding the issue has decreased demand for bio-based fertilizers.   

However, with significant key companies and governments in a number of nations actively striving to restore the supply chain, an improvement in biological fertilizer production, supply, and demand is projected. Agricultural biologicals suppliers and distributors must view technological advancement as a new opportunity. The coronavirus epidemic has compelled businesses to consider market penetration through innovative formulation qualities and cost-cutting.

TREND

Increasing Emphasis on Organic Agriculture  

Organic product demand is soaring, owing to increased earnings, as well as better farming practices that boost organic yields. As a result of the growing demand for organic food around the world, the amount of land dedicated to organic farming has expanded. According to FiBL data, the area under organic farming in the world expanded from 69.4 million hectares in 2017 to 74.9 million hectares in 2020. Moreover, the Common Agricultural Policy encourages the use of plant protection agents in a sustainable manner, limits synthetic fertilizers, and encourages the use of biofertilizers and organic farming. As a result, expanding organic farming methods and consumer awareness of health, environmental, qualities, and safety, together with favorable government laws, are expected to propel the biofertilizers market to new heights throughout the projected period.   

DRIVERS  

Increasing Government Support to Drive Growth of the Market

Concerns about diminishing soil quality as a result of misuse of chemical fertilizers, as well as their possible negative effects on human health, have prompted governments around the world to push bio-fertilizers. Various strategies, schemes, and other activities are being implemented by governments in several agro-dominant countries to encourage farmers to use bio-based fertilizers. Many governments have also implemented comprehensive economic recovery plans that include additional liquidity, tax flexibility, and agricultural and food industry subsidies, all of which are expected to boost the market growth.  

RESTRAINT   

High Production Costs Will Limit Market Growth

The cost of producing biological and organic fertilizers is higher than that of conventional fertilizers since they require specialized apparatus and equipment. This aspect is expected to stifle market expansion in the next years. Furthermore, biofertilizers include live microbial cells with a short shelf life (approximately six months at 20-25°C.), which necessitates extra care and precaution during storage and transportation, raising the product's cost. Thus, limited shelf-life and low versatility are expected to restrain market expansion during the projection period.

SEGMENTATION INSIGHT      

The Global Biofertilizers Market is segmented by Microorganism, Type, Technology Type, Application, Crop Type, and Region. Based on the Microorganism, the market is categorized into Blue-green Algae, Rhizobium, Mycorrhiza, Azotobacter, Azospirillum, Phosphate Solubilizing Bacteria, and Other Microorganisms. Based on Type, the market is categorized into Nitrogen Fixing, Phosphate Solubilizers, and Others. Based on Technology Type, the market is categorized into Carrier Enriched Biofertilizers, Liquid Biofertilizers, and Other Technology Types. Based on the Application, the market is categorized into Seed Treatment, Soil Treatment, and Others. Based on the Crop Type, the market is categorized into Fruits and Vegetables, Grains and Cereals, Pulses and Oilseeds, Commercial Crops and Other Crop Types. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.               

REGIONAL INSIGHTS    

The Global Biofertilizers Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.           

North America is dominating the market share of the biofertilizers market due to the growing number of organic farms in major economies such as the United States, Canada, and Mexico, the market in North America is rapidly developing. According to a 2019 report by the United States Department of Agriculture (USDA), there were roughly 16,500 organic certified farms in the United States in 2019, up 17 percent from 2016. In 2020, the extraordinary COVID-19 epidemic and its massive impact on consumers' daily lives had major implications for the organic sector. Organic food products are the food of choice for buyers looking for clean, healthful eating at home.

Europe is expected to be the second largest market for biofertilizers due to the European Commission's strict limitations on the use of chemical fertilizers. The European Union's fertilizer regulation agreement opened the market for novel organic fertilizers. For all fertilizers traded across the European Union, the regulations provide severe quality, safety, and labeling standards.     

Asia Pacific is expected to witness a significant growth rate over the forecast period of the biofertilizers market due to the rising R&D on biological fertilizers, and governments are launching various programs to support organic farming. The Indian government has set a goal of repairing 26 million hectares of degraded land, including salty soils, by 2030 to maintain food security for the population, according to the Press Information Bureau of the Government of India. To develop, distribute, and promote biological fertilizers, the Indian government implemented programs such as the National Project on Organic Farming (NPOF). Bio-fertilizers are being promoted by China as an option to limit the usage of chemicals in agriculture.

 LIST OF KEY COMPANIES PROFILED:  

• Kiwa Bio-Tech Products Group Corporation
• Agrinos
• Lallemand Inc.
• Rizobacter Argentina SA
• Novozymes A/S
• National Fertilizers Limited
• IPL Biologicals (INTERNATIONAL PANAACEA LIMITED)
• Bioceres S.A.
• BioWorks Inc.
• Som Phytopharma India Limited
• American Vanguard Corporation  
• Gujarat State Fertilizers & Chemicals Limited (GSFC)
• Symborg  

KEY INDUSTRY DEVELOPMENTS:    

• In September 2021, Novozymes introduced five biological solutions, including inoculants, to address critical difficulties faced by North American producers, as well as a new sales staff to serve customers directly in the United States. Inoculants for nutritional efficiency, nodulation, and nitrogen fixation are among the new items.
• In June 2021, The State Government's Ettaiyapuram factory in India has launched large-scale manufacture of liquid biofertilizer, which improves soil health and boosts agricultural produce. The goal of building this plant is to encourage farmers to use biological fertilizers instead of chemical fertilizers as much as feasible.    

SEGMENTATION INSIGHT

By Microorganism

• Blue-green Algae
• Rhizobium
• Mycorrhiza
• Azotobacter
• Azospirillum
• Phosphate Solubilizing Bacteria
• Others

By Type

• Nitrogen Fixing
• Phosphate Solubilizers
• Others

By Technology Type

• Carrier Enriched Biofertilizers
• Liquid Biofertilizers
• Others

By Application

• Seed Treatment
• Soil Treatment
• Others

By Crop Type

• Fruits and Vegetables
• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Other Crop Types

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa