Biofertilizers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Microorganism, Crop Type, and Application

January 2022 •
144 pages •
Report ID: 6232515 •
Format: PDF

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The biofertilizers market was valued at US$ 1,996.13 million in 2021 and is projected to reach US$ 4,744.43 million by 2028. It is expected to grow at a CAGR of 12.3% from 2021 to 2028.

Growing prices of synthetic and chemical-based fertilizers and increasing adoption of chemical-free foods globally are projected to remain key factors boosting the consumption of biofertilizers in the coming years.With the rapidly rising global population, food scarcity remains a critical issue for governments around the globe.

This has led to innovations in terms of product development in the bio-based fertilizer sector and the promotion of environment-friendly agricultural solutions to the major agrarian economies. Hence, the aforementioned factors are anticipated to augment the demand for biofertilizers across all agricultural economies over the forecast period.

The COVID-19 limited the chemicals & materials industry’s operations, hampering many businesses globally.Supply chain disruptions and difficulty in procuring raw materials have restrained the biofertilizers market to some extent.

However, the biofertilizers market overcame this challenge and regained its operations to normalcy.During the COVID-19 pandemic, people worldwide became more health-conscious.

They adopted organic food, which is boosting the biofertilizers market growth and is expected to increase its revenue in the coming years.

AgriLife; Biotech International Ltd.; Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd; Novozymes; Rizobacter; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA. are the key players in the Biofertilizers market.

The size of the global biofertilizers market has been derived using primary and secondary sources.Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the biofertilizers market.

Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in this market.

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