Biofertilizers Market - By Product (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), By Application (Seed Treatment, Soil Treatment), By Crop (Cereals & Grains, Pulses & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid) & Global Forecast,

Biofertilizers Market - By Product (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), By Application (Seed Treatment, Soil Treatment), By Crop (Cereals & Grains, Pulses & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid) & Global Forecast, 2023 - 2032

Biofertilizers Market is anticipated to witness strong demand during 2023-2032, owing to the increasing emphasis on environmental awareness. Increasing initiatives and efforts taken by the government to transition to organic or natural-based farming will drive the biofertilizers market size. Besides, extensive research activities for reducing the environmental effects caused by agrochemicals will fuel the industry growth.

Besides, excessive and inappropriate application of synthetic manures has contaminated and polluted the soil and water basins. Although chemical fertilizers support plant growth, they are not beneficial for the soil as they do not improve the health or structure of the soil.

Overall, the biofertilizers industry is segmented in terms of product, application, crop, form, and region.

Based on the product, the potash-mobilizing bacteria segment will grow considerably during 2023-2032. Potash mobilizing bacteria play various roles in soil and plant growth and are essential for converting ammonium ions into proteins and amino acids. Additionally, the product possess a dynamic role in the uptake of additional calcium, nitrogen, and phosphorous nutrients.

By application, the soil treatment segment will witness significant growth through 2032 owing to its several benefits for retaining the soil's natural environment. The macro- and micronutrients increase the soil's fertility. Biofertilizers interact with salinity and are crucial for plant growth and development.

In terms of crops, the pulses & oil seeds segment was valued at over USD 220 million in 2022. The segmental growth can be credited to the growing use of biofertilizers in the production of pulses and oilseeds over the forecast period. Besides, biofertilizers offer significant atmospheric nitrogen and suitable phosphorous content for pulse production. It also contains micronutrients, which keep soils biologically active and increase water absorption for pulse production. Unfavourable climatic conditions and increasing land degradation are projected to push the adoption of modern technologies in the agricultural industry, influencing the product demand.

By form, the liquid form segment will observe significant momentum through 2032. Production of liquid biofertilizers is a capable and advanced technology compared to traditional carrier-based production. Besides, liquid biofertilizers are bacterial solutions containing certain beneficial microorganisms that aid in releasing, fixing, and solubilizing plant nutrients through their organic matter.

Regionally, the Asia Pacific biofertilizers industry will garner strong gains during 2032. Increasing use of potash to maintain the nutritional balance in the soil and crops will bolster the industry growth across the region. Besides, increasing initiatives taken by various central governments to generate awareness among farmers for adopting organic fertilizers, which will help maintain the soil's health and improve crop production, will positively influence the regional market outlook.