Bio-Fertilizers Market Size (2023-2030)

 In 2022, the Global Bio-Fertilizers Market was valued at $2 billion, and is projected to reach a market size of $4.61 billion by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 11%.

The demand for organic food and sustainable agricultural practices is projected to drive the growth of the bio-fertilizers market. The increasing awareness among farmers about the harmful effects of chemical fertilizers on soil and human health is also contributing to the growth of the bio-fertilizers market. The growing population and shrinking arable land are other factors driving the demand for bio-fertilizers as they help in improving soil fertility and crop yield. Additionally, government initiatives to promote the use of bio-fertilizers and organic farming are projected to further boost the growth of the market.

Industry Overview:

The Bio-fertilizers market is a rapidly growing segment of the agricultural industry. Bio-fertilizers are naturally occurring organisms that can be used to increase the productivity of crops. These fertilizers are environmentally friendly & can be used as a substitute for synthetic fertilizers, which can have harmful effects on the soil & surrounding environment. The use of bio-fertilizers can also reduce the cost of agricultural inputs for farmers. The increasing demand for organic food products & the rising awareness of sustainable farming practices are driving the growth of the bio-fertilizers market. The Asia Pacific region is the largest market for bio-fertilizers due to its large agricultural sector & growing demand for organic food products. The market is characterized by the presence of a large number of small & medium-sized players who are competing based on product quality, price, and distribution network.

COVID-19 Impact on the Bio-Fertilizers Market:

The COVID-19 pandemic has had a mixed impact on the bio-fertilizers market. On one hand, the demand for bio-fertilizers has increased due to the rising interest in sustainable farming practices, altered awareness of environmental concerns, & the growing demand for organic food products. On the other hand, disruptions in the supply chain and logistics have negatively impacted the production and distribution of bio-fertilizers. The pandemic has led to a shortage of raw materials, labor, and transportation, which has resulted in increased prices and reduced availability of bio-fertilizers. The restrictions on international trade and travel have also affected the bio-fertilizers market, as many countries depend on imports of bio-fertilizers. The closure of retail stores and disruption of farming activities due to the pandemic has further impacted the market. However, the growing adoption of e-commerce platforms has helped in the distribution of bio-fertilizers, and the government’s initiatives to support sustainable farming practices have also positively impacted the market. Overall, the bio-fertilizers market is projected to recover and grow in the post-pandemic period due to the increasing demand for sustainable farming practices and the need for organic food products.

Market Drivers:

• Growing Demand for Organic Food helps to drive bio-fertilizers market growth:-
  • The global demand for organic food is increasing due to the rising awareness of health and environmental concerns. Bio-fertilizers help in enhancing soil fertility & productivity, leading to better crop yield, which is in line with organic farming practices. Therefore, the growing demand for organic food is projected to drive the demand for bio-fertilizers.
• Favorable Government Policies help to drive the global bio-fertilizers market growth:-
  • Many governments are promoting the use of bio-fertilizers through various policies & initiatives. For instance, in India, the government launched several programs to promote the use of bio-fertilizers and provide subsidies to farmers. Similarly, the European Union set a target to reduce the use of chemical fertilizers by 20% by 2030 & promote the use of bio-fertilizers. These favorable policies and initiatives are projected to drive the growth of the bio-fertilizers market.

Market Restraints:

• The Bio-Fertilizers Market's growth is being stifled by Limited Awareness:
  • Despite the increasing demand for bio-fertilizers, there is still limited awareness among farmers regarding the benefits of bio-fertilizers. Farmers are more comfortable using chemical fertilizers as they have been using them for decades & have more experience with their usage. This lack of awareness hinders the growth of the bio-fertilizers market.
• The Bio-Fertilizers Market's growth is being hindered by Low Shelf Life:
  • One of the biggest challenges of bio-fertilizers is their short shelf life. Bio-fertilizers contain live microorganisms that can die if not stored & transported in optimal conditions. This limits their shelf life, causing it difficult to transport them to faraway locations. As a result, the demand for bio-fertilizers is mainly limited to the regions where they are produced. This poses a challenge to the maturation of the market in regions where bio-fertilizers are not produced.

BIO-FERTILIZERS MARKET REPORT COVERAGE:

Market Segments:

This research report on the global Bio-Fertilizers Market has been segmented based on Crop Type, Type, Form, and Region.

Bio-Fertilizers Market—By Crop Type

• Cereals & grains
• Pulses & oilseeds
• Fruits & vegetables
• Others

The bio-fertilizers market can be segmented based on crop type, including cereals & grains, pulses & oilseeds, fruits & vegetables, & others. The cereals & grains segment is projected to rule the market due to the high demand for bio-fertilizers for crops like wheat, corn, and rice, which are the staple food crops in several regions globally. Additionally, the increasing adoption of bio-fertilizers by farmers to reduce the environmental impact of synthetic fertilizers on these crops is projected to further drive the growth of the cereals & grains segment. The fruits & vegetables segment is also projected to see momentous growth due to the increasing demand for organic food products among consumers. The pulses & oilseeds segment is projected to witness moderate growth due to the high demand for bio-fertilizers for crops like soybean, peanuts, and lentils. The other segment, which includes crops like cotton and sugarcane, is also projected to witness moderate growth due to the increasing adoption of bio-fertilizers to improve soil fertility and crop yield.

Bio-Fertilizers Market – By Type

• Rhizobium
• Azotobacter
• Azospirillum
• Phosphate Solubilizing Bacteria (PSB)
• Others

The global market for bio-fertilizers is segmented based on types such as Rhizobium, Azotobacter, Azospirillum, Phosphate Solubilizing Bacteria (PSB), & others. Among these, Rhizobium is projected to rule the market during the forecast period. Rhizobium is a type of bio-fertilizer that helps in nitrogen fixation in leguminous plants, thereby enhancing their growth and yield. Increasing awareness regarding the harmful effects of chemical fertilizers on the environment and the need for sustainable agriculture practices has led to the adoption of bio-fertilizers, with Rhizobium being a key type due to its ability to enhance soil fertility and reduce the use of chemical fertilizers. In addition, the growing demand for organic food products and the government initiatives supporting the use of bio-fertilizers in agriculture are projected to drive the market growth for Rhizobium bio-fertilizers.

Bio-Fertilizers Market – By Form

• Liquid
• Carrier-based
• Others

The Bio-Fertilizers market can be segmented based on form into liquid, carrier-based, & others. The carrier-based segment is projected to rule the market during the forecast period. Carrier-based bio-fertilizers are easy to use & have a longer shelf life than liquid bio-fertilizers, making them more cost-effective. Additionally, carrier-based bio-fertilizers are easy to handle and can be applied through fertigation, broadcasting, seed treatment, or soil application. The liquid bio-fertilizers segment is also projected to grow at a significant rate due to their high nutrient content and quick absorption by plants. However, liquid bio-fertilizers are more expensive than carrier-based bio-fertilizers and have a shorter shelf life. As a result, the adoption of liquid bio-fertilizers is limited to certain crops and regions. Overall, the increasing demand for sustainable agriculture practices and the growing awareness of the environmental benefits of bio-fertilizers are projected to drive the growth of the market.

Bio-Fertilizers Market – By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

The Asia Pacific region is projected to dominate the Bio-Fertilizers market due to the increasing adoption of sustainable agricultural practices & the rising demand for organic food products. Additionally, the presence of key manufacturers & suppliers in the region is contributing to the growth of the market. Europe is also a significant market for bio-fertilizers, as the region has been focusing on reducing the use of chemical fertilizers and promoting sustainable agriculture. The North American region is also witnessing steady growth in the bio-fertilizers market due to the increasing demand for organic food products & government initiatives promoting sustainable agriculture. The rest of the world is also projected to see momentous growth in the bio-fertilizers market due to the rising demand for organic food products, increasing awareness about the harmful effects of chemical fertilizers on the environment, and the implementation of supportive government policies. Overall, the market for bio-fertilizers is projected to witness strong growth across all regions due to increasing environmental concerns and the need to reduce dependence on chemical fertilizers.

Major Key Players in the Market:

1. Novozymes A/S
2. Rizobacter Argentina S.A.
3. T. Stanes & Company Limited
4. National Fertilizers Limited (NFL)
5. Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
6. Camson Bio Technologies Limited
7. Lallemand Inc.
8. Symborg S.L.
9. Krishak Bharati Cooperative Limited (KRIBHCO)
10. Biomax Naturals

Market Insights and Developments:

• In January 2020, the Indian government announced the launch of the National Bio-Fertilizer Programme, which trains to increase the use of bio-fertilizers in the country. The program provides financial assistance to farmers for the purchase of bio-fertilizers & promotes the production & distribution of high-quality bio-fertilizers. This initiative is projected to drive the growth of the bio-fertilizer market in India and create opportunities for bio-fertilizer manufacturers.
• In September 2020, Novozymes founded a new bio-fertilizer product, which is made from a microbial strain that aids crops to absorb nitrogen from the soil more efficiently. The product is designed to improve crop yields & reduce the environmental impact of farming. This innovation is projected to increase the adoption of bio-fertilizers among farmers & operate the growth of the bio-fertilizer market globally.
• In November 2021, the European Commission announced the approval of three new bio-fertilizer products under the EU Fertilising Products Regulation. The products are based on microorganisms that help to improve soil fertility & reduce the need for chemical fertilizers. The blessing of these products is projected to boost the development & adoption of bio-fertilizers in the European market.