Biofertilizers Market Research Report 2022-2028

1. Global Biofertilizers Market- Industry Size, Share, Growth, Opportunity and Forecast, 2021-2027

2. Global Biofertilizers Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global biofertilizers market was worth USD 2.7 billion in the year 2022. It is estimated to grow at a CAGR of 11.70%, earning revenue of around USD 5.7 billion by the end of 2028. The global biofertilizers market is flourishing at a high rate owing to the increasing concerns towards the environment and rising demand for sustainability in agricultural practices. Furthermore, the increasing popularity of organic food among consumers is also providing lucrative growth opportunities to the market. However, limited awareness of the benefits of biofertilizers is acting as one of the major restraining factors for the global biofertilizers market.

3. Growth Drivers  Rising Demand For Organic Food Organic food is the type of food produced with the standards and methods of organic farming, which eliminates the use of chemical fertilizers, hormones, and pollutants. It is gaining huge popularity among health-conscious consumers, especially after the COVID-19 pandemic. The production of organic food involves biofertilizers that act as a replacement for chemical fertilizers. The companies are increasingly launching different organic food types and products, which is anticipated to fuel the demand for biofertilizers to be used in organic food production, in the forecast period.

4. Restraints Constraints of Biofertilizers Production Technology There are certain limitations of biofertilizers that can act as a major restraining factor for its market growth. First of all, biofertilizers have a shorter shelf-life compared to chemical fertilizers. This may be a major loss for the farmers as well as producers as they need proper storage. Moreover, biofertilizers are often plant-specific, which means not every biofertilizer can be used in every plant type, like chemical fertilizers, which may restrain the farmers from shifting towards these agricultural products. Sample Copy of the report: https://www.blueweaveconsulting.com/report/global-biofertilizers-market/report-sample

5. Impact of COVID-19 The global biofertilizers market was not much affected by the COVID-19 pandemic outbreak. This is because of the strong and deep penetration of local biofertilizers manufacturers. The demand for organic food spiked during the COVID-19 period due to the rising health consciousness among consumers, due to which the production also increased, propelling the demand for biofertilizers in the agriculture industry. Furthermore, the demand for sustainability also emerged during this period, which is anticipated to positively influence the global biofertilizers market in the forecast period.

6.  Regional Insights Geographically, the global biofertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the global biofertilizers market owing to the high consciousness towards the use of organic products in agricultural activities. Furthermore, the rising adoption of advanced farming techniques and technologies such as precision farming, biodynamic farming, etc., is another factor influencing the growing demand for biofertilizers in developed countries such as the United States and Canada.

7. Competitive Landscape The leading market players of the global biofertilizers market are Novozymes A/S, Symborg SL, Kiwa Bio-Tech Products Group Corporation, Rizobacter Argentina SA, Lallemand Inc., National Fertilizer Ltd, Camson Biotechnologies Limited, National Fertilizer Ltd, Agrinos AS, CBF China Bio-Fertilizer AG, CriyagenAgri & Biotech Pvt Ltd, Biomax Naturals, Mapleton Agri Biotech Pty Limited, Agri Life, ValentBioSciences, Varsha Bioscience and Technology India Pvt Ltd., LKB BioFertilizer, Manidharma Biotech Pvt Ltd, Nutramax Laboratories Inc., and other prominent players.

8. Recent Development • In February 2022,Marrone Bio and CortivaAgriscience announced their agreement under which Corteve will be the exclusive European distributor for Kinsidro Grow, a novel, foliar bionutrient. • In January 2022, Kula Bio, a US-based biotechnology research company, announced it have raised USD 50 million in a Series A funding round led by Lower carbon Capital.

9. Key Players • Novozymes A/S, Symborg SL, Kiwa Bio-Tech Products Group Corporation, Rizobacter Argentina SA, Lallemand Inc., National Fertilizer Ltd, Camson Biotechnologies Limited, National Fertilizer Ltd, Agrinos AS, CBF China Bio-Fertilizer AG, CriyagenAgri & Biotech Pvt Ltd, Biomax Naturals, Mapleton Agri Biotech Pty Limited, Agri Life, ValentBioSciences, Varsha Bioscience and Technology India Pvt Ltd., LKB BioFertilizer, Manidharma Biotech Pvt Ltd, Nutramax Laboratories Inc., and other prominent players.

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