Leading Biofertilizers Crop Type Markets Databank
The Biofertilizers market was valued at $1,059.6 Million in 2020, and is projected to reach $2,774.3 Million by 2029 growing at a CAGR of 11.35% from 2021 to 2029. Cereals & Grains segment is expected to be the highest contributor to this market, with $795.7 Million in 2020, and is anticipated to reach $2,148.6 Million by 2029, registering a CAGR of 11.73%. Fruits & Vegetables segment is anticipated to reach $223.8 Million by 2029 with the highest CAGR of 11.99%. Cereals & Grains and Oilseeds & Pulses segments collectively expected to account for about 91.1% share of the Biofertilizers market in 2020, with the former constituting around 75.1% share. Fruits & Vegetables and Cereals & Grains segments are expected to witness significant growth rates at a CAGR of 11.99% and 11.73% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 82.7% in the overall Biofertilizers market in 2020, and is anticipated to reach 85.5% by 2029.
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