Biofertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Quick Summary:

The global biofertilizer market is poised for significant expansion. Biofertilizers, derived from biological waste and teeming with living microorganisms, aid in improving soil fertility thus promoting robust plant growth. Unlike chemical fertilizers that offer direct nutrition to the plant, biofertilizers decompose organic matter and break down complex minerals for easy absorption by plants, enriching the soil with nutrients and preventing the growth of plant-disease-causing pathogens. Their multiple advantages over chemical counterparts have resulted in rapid adoption in the agricultural sector.

Still in its initial penetration stages, the biofertilizer industry presents countless growth opportunities in both developing and emerged markets. The growing awareness of environmental hazards associated with synthetic agrichemicals, primarily soil and food chain pollution, has stimulated the demand for biological products. Additionally, the rise of consumer health consciousness has sparked an adoption of organic foods and agricultural products. Furthermore, the burgeoning trend of regulatory policies favoring biofertilizers by various governments is a major driver in the sales of these products. This comprehensive report provides in-depth analysis and forecasts for every sub-segment of the global biofertilizer market, giving invaluable insights to investors and industry leaders alike.

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

Biofertilizers are made from biological waste that contains living microorganisms. Unlike chemical fertilizers, which offer direct nutrition to the plant, biofertilizers help in improving the overall soil fertility. The microorganisms present in these fertilizers decompose organic matter and breakdown complex minerals for easy absorption by plants. This process enriches the soil with nutrients, which in turn promotes healthy plant growth. Moreover, biofertilizers do not allow pathogens to grow, which helps in preventing crop diseases. The several advantages offered by biofertilizers over their chemical counterparts have led to their rapid adoption in the agriculture sector.

Although the penetration of biofertilizers is still at a nascent stage, both the developing and emerging markets are expected to provide numerous growth opportunities over the next few years. The understanding of the environmental hazards caused by the use of synthetic agrichemicals, primarily the pollution and contamination of the soil and the food chain, has pushed the demand for biological products. Apart from this, growing health concerns have also urged people to adopt organic foods and other agricultural products. Another major factor driving the sales of biofertilizers is the increasing implementation of favorable regulatory policies by various governments.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global biofertilizer market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, crop, microorganism and mode of application.

Breakup by Type:

Nitrogen-fixing biofertilizers
Phosphate-fixing biofertilizers
Others

Currently, nitrogen-fixing biofertilizers, such as rhizobium, azotobacter, and azospirillum account for majority of the market share. On the other hand, phosphate-fixing biofertilizers are expected to witness rapid growth over the next few years.

Breakup by Crop:

Cereals and grains
Pulses and oilseeds
Fruits and vegetables
Others

At present, cereals and grains represent the dominant crop segment. Biofertilizers are widely used for effective production of different cereals and grains, such as wheat, oats, and rice, as they aid in enhancing their yield under poor land conditions.

Breakup by Microorganism:

Cyanobacter
Rhizobium
Phosphate Solubilizing Bacteria
Azotobacter
Others

Among these, cyanobacter is the leading microorganism segment. Cyanobacter-based biofertilizers offer reduced input cost, increase the bioavailability of phosphorus, and help in nutrient cycling as well as nitrogen fixation.

Breakup by Mode of Application:

Seed treatment
Soil treatment
Others

Seed treatment is the most preferred mode of application as it protects the seeds from pathogens and insects and enhances seedling establishment and early plant growth. In addition, it is more cost-effective and user-friendly as compared to the other modes.

Regional Insights:

Asia Pacific
North America
Europe
Others

On the geographical front, North America is the largest market, holding the dominant market share. The growing emphasis on organic agriculture, coupled with the high population, is the primary factor driving the demand for biofertilizers in the region.

Competitive Landscape:

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.
T.Stanes & Company Limited
Camson Bio Technologies Limited
Rashtriya Chemicals & Fertilizers Ltd.
Lallemand Inc.
Nutramax Laboratories, Inc.

Key Questions Answered in This Report

1. What was the size of the global biofertilizer market in 2022?
2. What is the expected growth rate of the global biofertilizer market during 2023-2028?
3. What are the key factors driving the global biofertilizer market?
4. What has been the impact of COVID-19 on the global biofertilizer market?
5. What is the breakup of the global biofertilizer market based on the type?
6. What is the breakup of global biofertilizer market based on the crop?
7. What is the breakup of the global biofertilizer market based on the microorganism?
8. What is the breakup of the global biofertilizer market based on the mode of application?
9. What are the key regions in the global biofertilizer market?
10. Who are the key companies/players in the global biofertilizer market?

Frequently Asked Questions about the Global Biofertilizer Market

What is the estimated value of the Global Biofertilizer Market?

The Global Biofertilizer Market was estimated to be valued at $2.7 Billion in 2022.

What is the growth rate of the Global Biofertilizer Market?

The growth rate of the Global Biofertilizer Market is 13.6%, with an estimated value of $5.8 Billion by 2028.

What is the forecasted size of the Global Biofertilizer Market?

The Global Biofertilizer Market is estimated to be worth $5.8 Billion by 2028.

Who are the key companies in the Global Biofertilizer Market?

Key companies in the Global Biofertilizer Market include Novozymes A/S, National Fertilizers Limited, Madras Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd., Rizobacter Argentina S.A., T.Stanes & Company Limited, Camson Bio Technologies Limited, Rashtriya Chemicals & Fertilizers Ltd., Lallem Inc. and Nutramax Laboratories Inc..

Report Attribute	Details
No. of Pages	144
Published	June 2023
Forecast Period	2022 - 2028
Estimated Market Value ( USD ) in 2022	$ 2.7 Billion
Forecasted Market Value ( USD ) by 2028	$ 5.8 Billion
Compound Annual Growth Rate	13.6%
Regions Covered	Global
No. of Companies Mentioned	10

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Biofertilizer Industry

5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Price Trends
5.5 Market Breakup by Region
5.6 Market Breakup by Type
5.7 Market Breakup by Crop
5.8 Market Breakup by Microorganism
5.9 Market Breakup by Mode of Application
5.10 Market Forecast
5.11 SWOT Analysis
5.11.1 Overview
5.11.2 Strengths
5.11.3 Weaknesses
5.11.4 Opportunities
5.11.5 Threats
5.12 Value Chain Analysis
5.12.1 Overview
5.12.2 Research and Development
5.12.3 Raw Material Procurement
5.12.4 Manufacturing
5.12.5 Marketing
5.12.6 Distribution
5.12.7 End-Use
5.13 Porter’s Five Forces Analysis
5.13.1 Overview
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Degree of Competition
5.13.5 Threat of New Entrants
5.13.6 Threat of Substitutes
5.14 Key Market Drivers and Success Factors

6 Performance of Key Regions

6.1 Asia Pacific
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 North America
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Europe
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast

7 Market Breakup by Type

7.1 Nitrogen-Fixing Biofertilizers
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Phosphate-Fixing Biofertilizers
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Crop

8.1 Cereals and Grains
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Pulses and Oilseeds
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Fruits and Vegetables
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast

9 Market Breakup by Microorganism

9.1 Cyanobacter
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Rhizobium
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Phosphate Solubilizing Bacteria
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Azotobacter
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast

10 Market Breakup by Mode of Application

10.1 Seed Treatment
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Soil Treatment
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Others
10.3.1 Market Trends
10.3.2 Market Forecast

11 Competitive Landscape

11.1 Market Structure
11.2 Key Player

12 Biofertilizer Manufacturing Process

12.1 Product Overview
12.2 Detailed Process Flow
12.3 Various Types of Unit Operations Involved
12.4 Mass Balance and Raw Material Requirements

13 Project Details, Requirements and Costs Involved

13.1 Land Requirements and Expenditures
13.2 Construction Requirements and Expenditures
13.3 Plant Layout
13.4 Plant Machinery
13.5 Raw Material Requirements and Expenditures
13.6 Packaging Requirements and Expenditures
13.7 Transportation Requirements and Expenditures
13.8 Utility Requirements and Expenditures
13.9 Manpower Requirements and Expenditures
13.10 Other Capital Investments

14 Loans and Financial Assistance

15 Project Economics

15.1 Capital Cost of the Project
15.2 Techno-Economic Parameters
15.3 Product Pricing and Margins Across Various Levels of the Supply Chain
15.4 Taxation and Depreciation
15.5 Income Projections
15.6 Expenditure Projections
15.7 Financial Analysis
15.8 Profit Analysis

16 Key Player Profiles

16.1 Novozymes A/S
16.2 National Fertilizers Limited
16.3 Madras Fertilizers Limited
16.4 Gujarat State Fertilizers & Chemicals Ltd.
16.5 Rizobacter Argentina S.A.
16.6 T.Stanes & Company Limited
16.7 Camson Bio Technologies Limited
16.8 Rashtriya Chemicals & Fertilizers Ltd.
16.9 Lallemand Inc.
16.10 Nutramax Laboratories

List of Figures

Figure 1: Global: Biofertilizer Market: Major Drivers and Challenges
Figure 2: Global: Biofertilizer Market: Volume Trends (in Million Tons), 2017-2022
Figure 3: Global: Biofertilizer Market: Value Trends (in Billion US$), 2017-2022
Figure 4: Global: Biofertilizer Market: Average Prices (in US$/Ton), 2017-2022
Figure 5: Biofertilizer Market: Price Structure
Figure 6: Global: Biofertilizer Market: Breakup by Region (in %), 2022
Figure 7: Global: Biofertilizer Market: Breakup by Type (in %), 2022
Figure 8: Global: Biofertilizer Market: Breakup by Crop (in %), 2022
Figure 9: Global: Biofertilizer Market: Breakup by Microorganism (in %), 2022
Figure 10: Global: Biofertilizer Market: Breakup by Mode of Application (in %), 2022
Figure 11: Global: Biofertilizer Market Forecast: Volume Trends (in Million Tons), 2023-2028
Figure 12: Global: Biofertilizer Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 13: Global: Biofertilizer Industry: SWOT Analysis
Figure 14: Global: Biofertilizer Industry: Value Chain Analysis
Figure 15: Global: Biofertilizer Industry: Porter’s Five Forces Analysis
Figure 16: Asia Pacific: Biofertilizer Market (in Million US$), 2017 & 2022
Figure 17: Asia Pacific: Biofertilizer Market Forecast (in Million US$), 2023-2028
Figure 18: North America: Biofertilizer Market (in Million US$), 2017 & 2022
Figure 19: North America: Biofertilizer Market Forecast (in Million US$), 2023-2028
Figure 20: Europe: Biofertilizer Market (in Million US$), 2017 & 2022
Figure 21: Europe: Biofertilizer Market Forecast (in Million US$), 2023-2028
Figure 22: Others: Biofertilizer Market (in Million US$), 2017 & 2022
Figure 23: Others: Biofertilizer Market Forecast (in Million US$), 2023-2028
Figure 24: Global: Nitrogen-Fixing Biofertilizers Market: Value Trend (in Million US$), 2017 & 2022
Figure 25: Global: Nitrogen-Fixing Biofertilizers Market Forecast: Value Trend (in Million US$), 2023-2028
Figure 26: Global: Phosphate-Fixing Biofertilizers Market: Value Trend (in Million US$), 2017 & 2022
Figure 27: Global: Phosphate-Fixing Biofertilizers Market Forecast: Value Trend (in Million US$), 2023-2028
Figure 28: Global: Other Biofertilizers Market: Value Trend (in Million US$), 2017 & 2022
Figure 29: Global: Other Biofertilizers Market Forecast: Value Trend (in Million US$), 2023-2028
Figure 30: Global: Biofertilizer Market (Cereals and Grains): Value Trend (in Million US$), 2017 & 2022
Figure 31: Global: Biofertilizer Market Forecast (Cereals and Grains): Value Trend (in Million US$), 2023-2028
Figure 32: Global: Biofertilizer Market (Pulses and Oilseeds): Value Trend (in Million US$), 2017 & 2022
Figure 33: Global: Biofertilizer Market Forecast (Pulses and Oilseeds): Value Trend (in Million US$), 2023-2028
Figure 34: Global: Biofertilizer Market (Fruits and Vegetables): Value Trend (in Million US$), 2017 & 2022
Figure 35: Global: Biofertilizer Market Forecast (Fruits and Vegetables): Value Trend (in Million US$), 2023-2028
Figure 36: Global: Biofertilizer Market (Other Crop Types): Value Trend (in Million US$), 2017 & 2022
Figure 37: Global: Biofertilizer Market Forecast (Other Crop Types): Value Trend (in Million US$), 2023-2028
Figure 38: Global: Biofertilizer Market (Cyanobacter): Value Trend (in Million US$), 2017 & 2022
Figure 39: Global: Biofertilizer Market Forecast (Cyanobacter): Value Trend (in Million US$), 2023-2028
Figure 40: Global: Biofertilizer Market (Rhizobium): Value Trend (in Million US$), 2017 & 2022
Figure 41: Global: Biofertilizer Market Forecast (Rhizobium): Value Trend (in Million US$), 2023-2028
Figure 42: Global: Biofertilizer Market (Phosphate Solubilizing Bacteria): Value Trend (in Million US$), 2017 & 2022
Figure 43: Global: Biofertilizer Market Forecast (Phosphate Solubilizing Bacteria): Value Trend (in Million US$), 2023-2028
Figure 44: Global: Biofertilizer Market (Azotobacter): Value Trend (in Million US$), 2017 & 2022
Figure 45: Global: Biofertilizer Market Forecast (Azotobacter): Value Trend (in Million US$), 2023-2028
Figure 46: Global: Biofertilizer Market (Other Microorganism): Value Trend (in Million US$), 2017 & 2022
Figure 47: Global: Biofertilizer Market Forecast (Other Microorganism): Value Trend (in Million US$), 2023-2028
Figure 48: Global: Biofertilizer Market (Seed Treatment): Value Trend (in Million US$), 2017 & 2022
Figure 49: Global: Biofertilizer Market Forecast (Seed Treatment): Value Trend (in Million US$), 2023-2028
Figure 50: Global: Biofertilizer Market (Soil Treatment): Value Trend (in Million US$), 2017 & 2022
Figure 51: Global: Biofertilizer Market Forecast (Soil Treatment): Value Trend (in Million US$), 2023-2028
Figure 52: Global: Biofertilizer Market (Other Treatment): Value Trend (in Million US$), 2017 & 2022
Figure 53: Global: Biofertilizer Market Forecast (Other Treatment): Value Trend (in Million US$), 2023-2028
Figure 54: Biofertilizer Manufacturing Plant: Detailed Process Flow
Figure 55: Biofertilizer Manufacturing: Conversion Rate of Feedstocks
Figure 56: Biofertilizer Manufacturing Plant: Proposed Plant Layout
Figure 57: Biofertilizer Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 58: Biofertilizer Industry: Profit Margins at Various Levels of the Supply Chain
Figure 59: Biofertilizer Production: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: Global: Biofertilizer Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Biofertilizer Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 3: Global: Biofertilizer Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: Global: Biofertilizer Market Forecast: Breakup by Crop (in Million US$), 2023-2028
Table 5: Global: Biofertilizer Market Forecast: Breakup by Microorganism (in Million US$), 2023-2028
Table 6: Global: Biofertilizer Market Forecast: Breakup by Mode of Application (in Million US$), 2023-2028
Table 7: Global: Biofertilizer Market: Competitive Structure
Table 8: Global: Biofertilizer Market: Key Players
Table 9: Biofertilizer Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 10: Biofertilizer Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 11: Biofertilizer Manufacturing Plant: Costs Related to Machinery (in US$)
Table 12: Biofertilizer Manufacturing Plant: Raw Material Requirements
Table 13: Biofertilizer Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 14: Biofertilizer Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 15: Biofertilizer Manufacturing Plant: Details of Financial Assistance Offered by Financial Institutions
Table 16: Biofertilizer Manufacturing Plant: Capital Costs (in US$)
Table 17: Biofertilizer Manufacturing Plant: Techno-Economic Parameters
Table 18: Biofertilizer Manufacturing Plant: Taxation and Depreciation (in US$)
Table 19: Biofertilizer Manufacturing Plant: Income Projections (in US$)
Table 20: Biofertilizer Manufacturing Plant: Expenditure Projections (in US$)
Table 21: Biofertilizer Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 22: Biofertilizer Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 23: Biofertilizer Manufacturing Plant: Profit and Loss Account (in US$)