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Biofertilizers Market Share

Report ID: GMI112
Published Date: Jul 2024
Report Format: PDF

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Biofertilizers Market Share

Biofertilizers Market Company Share, (2023)

The competitive landscape of the biofertilizers industry is characterized by the presence of several key players such as Agri Life, Ajay Bio-Tech (India) Ltd., Cairochem, Chema Industries, and Gizatec. These companies are focused on expanding their product portfolios and enhancing their market reach through strategic partnerships, acquisitions, and investments in research and development. For instance, companies like Agri Life and Ajay Bio-Tech (India) Ltd. are investing in advanced biofertilizer formulations to cater to the increasing demand for sustainable agricultural practices. Additionally, the competitive environment is marked by efforts to improve product efficacy and shelf life, addressing challenges related to biofertilizer stability and effectiveness.

Regional diversification and market penetration strategies are also prominent among companies like Gujarat State Fertilizers & Chemicals Limited, Jay Enterprises, and Kimitec Group. These companies are expanding their operations beyond their domestic markets to tap into emerging opportunities in different regions. The focus is on customizing products to meet the specific needs of various crops and soil types, enhancing their competitiveness in the global market. Meanwhile, companies like Lallemand Inc. and Madras Fertilizers Limited are leveraging their extensive distribution networks and strong customer relationships to maintain a steady market presence. The competition is further intensified by the continuous introduction of innovative biofertilizer products, driven by increasing research and development activities aimed at improving agricultural productivity and sustainability.

Biofertilizers Market Companies

Major players operating in the biofertilizers industry include:

Agri Life
Ajay Bio-Tech (India) Ltd.
Cairochem
Chema Industries
Gizatec
Gujarat State Fertilizers & Chemicals Limited
Jay Enterprises
Kimitec Group
Lallemand Inc.
Madras Fertilizers Limited

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Market size for biofertilizers was valued at USD 2.31 billion in 2023 and is anticipated to register over 8.5% CAGR between 2024 and 2032 driven by increasing global emphasis on sustainable and organic farming practices, which seek to reduce reliance on chemical fertilizers

The seed treatment application segment accounted for 84% of the biofertilizers market share in 2023 and is projected to grow through 2032 due to its efficiency in directly delivering beneficial microorganisms to seeds while ensuring early-stage plant growth and development.

Biofertilizers industry from the dry form segment recorded 1.62 billion in 2023 and is expected to reach USD 3.29 billion by 2032 as they are more popular due to their longer shelf life and ease of storage and transportation compared to liquid forms.

North America industry size USD 910.1 million in 2023 and is expected to reach USD 1.83 billion by 2032 due to advanced agricultural practices, strong focus on sustainable farming, and robust regulatory support for organic farming