Latest Market Study on Biofertilizers Market
Global Biofertilizer Market reached USD 2.56 billion in 2022 and is expected to reach USD 6.65 billion by 2031, growing with a CAGR of 12.6% during the forecast period 2024-2031.
Biofertilizers are natural or organic substances that contain living microorganisms, which promote plant growth by enhancing the availability of nutrients in the soil. These microorganisms, such as bacteria, fungi, or algae, help improve soil health by fixing nitrogen, decomposing organic matter, and suppressing harmful pathogens.
With the growing demand for sustainable agriculture, biofertilizers have emerged as a more eco-friendly alternative to chemical fertilizers. By enriching the soil with beneficial microorganisms, they increase crop yields, improve soil fertility, and reduce the reliance on harmful chemical inputs. Common types of biofertilizers include nitrogen-fixing bacteria (like Rhizobium), mycorrhizal fungi, and phosphate-solubilizing bacteria, each offering specific benefits for various crops.
As farmers and industries focus on environmentally sustainable practices, biofertilizers are gaining popularity due to their ability to reduce soil degradation, enhance nutrient uptake, and promote healthier, more resilient crops. The rising awareness of organic farming and government initiatives supporting green agriculture further boost the adoption of biofertilizers.
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Market Growth Drivers:
Increase in Demand for Chemical-Free Fertilizers
The demand for chemical-free fertilizers is on the rise, driven by growing awareness of sustainable farming. According to the 2022 State of Biofertilizers and Organic Fertilizers in India report, India produced about 134,323 tonnes of carrier-based solid biofertilizers in 2020–21, with Tamil Nadu being the largest producer, contributing 48% of the total production.
The adoption of biofertilizers is also increasing, as they significantly improve soil health by boosting beneficial microbial activity, maintaining soil structure, enhancing water retention, and reducing the dependency on synthetic chemicals. These benefits are driving the market growth in the industry.
The demand for organic farming is also growing. According to the National Programme of Organic Production, India’s certified organic farming area reached 9.1 million hectares in 2021-22, and the country produced around 3.43 million tonnes of certified organic products. This high production rate is expected to further boost the demand for biofertilizers, which play a vital role in promoting healthy soil and improving crop productivity. The rising focus on organic farming is, therefore, a key driver in increasing the biofertilizer market growth.
Market Segments:
- By Microorganism: Azotobacter, Azospirillum, Cyanobacteria, Mycorrhiza, Phosphate Solubilizing Bacteria, Rhizobium, Others
- By Type: Potash-Mobilizing, Nitrogen Fixation, Phosphate Solubilizing, Others
- By Form: Liquid, Granules, Powder, Others
- By Distribution Channel: E-Commerce, Hypermarkets/Supermarkets, Specialty Stores, Others
- By Crop Type: Fruits and Vegetables, Oilseeds & Pulses, Cereals & Grains, Others
- By Application: Soil Treatment , Seed Treatment, Others
- By Region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa
Top Key Players:
- Katyani Organics
- Peptech Biosciences Ltd.
- Novozymes
- UPL
- Chr. Hansen Holding A/S
- Lallemand Inc.
- IPL Biologicals
- Gujarat State Fertilizers & Chemicals Limited
- BioWorks, Inc.
- T.Stanes and Company Limited
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Regional Growth
Presence of Agricultural Land and Government Initiatives
The Asia-Pacific region holds the largest share of the global biofertilizers market, driven by increasing demand for higher crop productivity and strong government support. Farmers in this region are rapidly adopting biofertilizers as they improve nutrient availability and enhance nutrient uptake by plants, leading to market growth.
The region also boasts vast agricultural lands, with Australia alone utilizing 427 million hectares—approximately 55% of its land—for farming, according to the 2023 Department of Agriculture, Fisheries, and Forestry report. This large-scale agricultural area presents a significant opportunity for biofertilizer adoption.
Additionally, governments in the region are promoting biofertilizer use through various schemes. For example, the Indian government offers the National Mission on Oilseeds and Oil Palm (NMOOP), providing a 50% subsidy for biofertilizers and related components like Rhizobium culture, Phosphate Solubilizing Bacteria (PSB), Zinc Solubilizing Bacteria (ZSB), and vermicompost. Such initiatives are boosting biofertilizer adoption and accelerating market growth.
Key Development
In September 2022, Corteva, Inc. acquired Symborg, a leading microbiological technology company based in Murcia, Spain. This acquisition aims to fast-track the development of a top-tier biological portfolio, enhancing Corteva’s capabilities in sustainable agricultural solutions.
