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The biofertilizers market size has grown rapidly in recent years. It will grow from  $2.2 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%.  The growth in the historic period can be attributed to strong economic growth in emerging markets, surge in demand for organic food, rise in demand for agricultural products and adoption of precision farming. The biofertilizers market size is expected to see rapid growth in the next few years. It will grow to  $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%.  The growth in the forecast period can be attributed to increasing focus on organic agriculture, rising government initiatives, rise in price of synthetic fertilizers, and increasing population. Major trends in the forecast period include development of eco-friendly biofertilizers, product innovations, technology advancements and strategic collaborations and partnerships.

The increasing focus on organic agriculture is set to drive the growth of the biofertilizers market during the forecast period. Organic agriculture emphasizes sustainable farming practices, prioritizing soil health, biodiversity, and environmental conservation. Biofertilizers, derived from naturally occurring microorganisms, play a pivotal role in enhancing soil fertility and nutrient availability without resorting to synthetic chemicals or genetically modified organisms. In 2023, as per Organic Eprints, organic agriculture is practiced in 191 countries, managing over 76 million hectares of agricultural land by at least 3.7 million farmers. Consequently, the growing emphasis on organic agriculture is expected to propel the biofertilizers market. By 2024 and 2028, this focus on organic farming is projected to contribute to the sustained growth of the market.

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What Are The Key Trends That Influence Biofertilizers Market Share Analysis?

Product innovation is a significant trend in the biofertilizers market. Key players are developing advanced biofertilizers to improve crop strength and stress tolerance. For example, in June 2021, Symborg, a Spanish biofertilizer R&D company, launched Qlimax, a prebiotic soil energizer that increases microbial flora in the soil, enhancing agronomic management of soil and crops. Additionally, in May 2021, Rizobacter, an Argentine producer of microbiological products, introduced Microstar BIO, a specialty fertilizer combining biologicals with chemical fertilizers. This innovation uses Bacillus strains to enhance nutrient availability and soil exploration.

Which Market Players Are Driving Growth In The Biofertilizers Market?

Major companies operating in the market are UPL Limited, National Fertilizers Limited, Lallemand Inc, Novozymes A/S, Chr. Hansen Holding A/S, Gujarat State Fertilizers & Chemicals Ltd, T.Stanes& Company Limited, IPL Biologicals Limited, Bioceres Crop Solutions, FMC Corp, Biolchim SpA, Genliduo Bio-tech Corporation Ltd, Kiwa Bio-Tech, Shandong Sukahan Bio-Technology Co. Ltd, Atlántica Agrícola, PT Pupuk Kalimantan Timur, Ajay Farm-Chem Pvt. Ltd, Ajay Bio-Tech (India) Ltd, Bio Vision corporation, Guano, CF Fertilizers Ltd, Yara Ltd, Toopi organics, Biofa AG, Symborg, Biopartner sp z.o.o, AGROUNIK d.o.o, EuroChem Group AG, Agrocare Canada, Agrinos, Anuvia, BioFert Manufacturing Inc, Kiwa Bio-Tech Products Group Corporation, Kula Bio Inc, Novozymes Latin America Ltda, Rizobacter Argentina S.A, Indogulf Bio AG, Nurture Growth Bio Inc, SABIC Agri-Nutrients Company, Green Muscle, Greenbelt Fertilizers Limited, Golden Fertilizer Company Limited, ETG Inputs Holdco Limited

How Is The Global Biofertilizers Market Segmented?

The biofertilizers market covered in this report is segmented –

By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
By Form: Liquid, Carrier-Based
By Application: Seed Treatment, Soil Treatment, Other Applications

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The Biofertilizers Global Market Report 2024 provides an overview of the biofertilizersmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The biofertilizers market forecast analyzes biofertilizers market size, biofertilizers market share, leading competitor and their market positions.

The Table Of Content For The Biofertilizers Market Include

1. Biofertilizers Market Executive Summary
2. Biofertilizers Market Segments
3. Biofertilizers Market Size And Template Market Growth Rate
4.  Key Biofertilizers Market Trends
5. Major Biofertilizers Market Drivers
……
25. Key Mergers And Acquisitions In The Biofertilizers Market
26. Top Biofertilizers Companies
27. Biofertilizers Market Opportunities And Strategies
28. Biofertilizers Market, Conclusions And Recommendations
29. Appendix

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