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Biofertilizers Market Trends

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

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Biofertilizers Market Trends

The biofertilizers industry is experiencing a surge in interest driven by the growing demand for organic farming and sustainable agricultural practices. There is an increasing focus on improving soil health and fertility, leading to the development of innovative biofertilizer products tailored for various crops and soil conditions. The market is seeing greater integration of biofertilizers with precision agriculture technologies, enhancing their application efficiency. Additionally, regulatory support and government incentives are promoting the use of eco-friendly inputs. The rise in consumer awareness about environmental impacts and food quality is also accelerating market growth

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