Biofertilizers Market size to surpass USD 4.5 Bn by 2032

Biofertilizers Market size is anticipated to reach USD 4.5 billion by 2032, as per a new research report announced by Global Market Insights Inc.
 

The robust adoption of biofertilizers in organic farming and soil fertility management practices is acting as a major influential factor driving the biofertilizers industry trends. Shifting consumer preferences toward organic food items to improve daily dietary patterns due to rising consumer health consciousness is aiding the market growth. Significant health advantages, advancements in agricultural farming practices, and elevated health concerns brought on by synthetic agrochemicals are driving the demand for organic food globally.
 

Natural anti-fungal properties to augment the use of phosphate-solubilizing biofertilizers

The biofertilizers market from the phosphate-solubilizing segment is estimated to expand at more than 9% CAGR from 2023 to 2032. Insoluble forms of phosphate, such as iron, aluminum phosphate, and tricalcium phosphate, are solubilized via biofertilizers, which are among the most important micronutrients required for plant development. It also has anti-fungal properties under some circumstances, allowing for indirect measurement of fungi-related disorders. With the help of this product, crop yields can rise by 10% to 15%.
 

Groundwater scarcity in various areas to increase fruits & vegetable segment share

On the basis of crop, the fruits & vegetables segment is poised to capture nearly 34.5% of the market share through 2032. Most regions have limited groundwater, which has been tapped so much that it is impossible to grow various fruits including peaches and grapes. Biofertilizers increase crop yield by 20-30% and protect them from drought and soil-borne diseases. The agricultural sectors in several countries are foreseen to extensively utilize biofertilizers to increase the output of fruits and vegetables.
 

Browse key industry insights spread across 450 pages with 701 market data tables & 19 figures & charts from the report, “Biofertilizers Market - By Product (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), By Application (Seed Treatment, Soil Treatment), By Crop (Cereals & Grains, Pulses & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid) & Global Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biofertilizers-market
 

Sustainability of liquid biofertilizers in agriculture to shape industry outlook

The liquid biofertilizers industry is estimated to cross USD 1.4 billion by 2032 as they are the bacterial preparations covering specific useful microorganisms, which are supportive in mobilizing, fixing, and solubilizing plant nutrients by their organic matter. Several factors that alter liquid biofertilizers are levels of humectants, sunlight intensity, level of PH, acclimatization, and temperature.
 

Increasing awareness regarding soil purification to augment soil treatment segment revenues

Liquid biofertilizers market from the deployment of biofertilizers for soil treatment is set to observe approximately 8% growth rate up to 2032. Biofertilizers are advantageous in preserving the natural environment of the soil as it benefits soil fertility through nitrogen fixation and the biodegradation of organic materials, which increase the amount of micro- and macro-nutrients. Soil remediation then benefits the health of humans and animals indirectly by removing toxins underground and providing the right nutrients to the plants.
 

Increasing spending on new technologies to aid Europe emerge as a prominent revenue hub

The Europe biofertilizers market is projected to exceed USD 1.5 billion by 2032, accredited to a strong inclination towards biofertilizers in modern agricultural practices. In addition, significant investments by key manufacturers in new production technologies to develop cost-effective biofertilizers are complementing regional business progression. In January 2023, Novozymes, a Denmark-based biochemical company, invested in a new UV system introduced by Danish Lyras that is designed with raslysation technology for the rapid inactivation of microorganisms. This system is designed to replace labor-intensive filtration processes, reducing energy consumption and unnecessary microbiology.
 

Strategic import agreements among companies to boost industry expansion

The competitive landscape of the biofertilizers market is expected to witness a series of partnerships and acquisitions by industry players. Some of the key players are Novozymes, Jay Enterprises, National Fertilizers Limited, Gizatec, Madras Fertilizers Limited, Ajay Bio-Tech (India) Ltd., Symborg SL, Agro-Bio Trading, Biomax Naturals, Koppert B.V, Camson Bio Technologies Limited, Bharat Biocon, Criyagen, Kiwa Bio-Tech Products Group Corporation, and T Stanes & Company Limited, among others.