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The global biofertilizers market size is estimated to be valued at USD 2.6 billion in 2021 and is expected to reach a value of USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as increased awareness and consumption of organic foods, organic meat, and organic clothes, which has resulted in the increase in demand for organic crop production, thereby increasing the demand and consumption for organic farm inputs (which includes biofertilizers) in developed economies such as North America and Europe. Along with increasing trend of exporting oilseed and legume crops such as soybean, cotton, and pulses to countries in Asia Pacific and South America for the adoption of biofertilizers are some of the factors driving the growth of the biofertilizers market during the forecast period.
 
Biofertilizers Market
 
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Biofertilizers are substances that contain living microorganisms or latent cells. Biofertilizers are made from biological wastes and do not contain any chemicals. The National Center of Organic Farming (NCOF) defines biofertilizers as “products containing carrier-based (solid or liquid) living microorganisms, which are agriculturally useful in terms of nitrogen fixation, phosphorus solubilization, or nutrient mobilization, to increase the productivity of the soil and/or crop.
Biofertilizers are cheap and are applied in small dosages, in comparison with chemical fertilizers. Besides affecting the crops directly, they increase the population of soil microorganisms. They also secrete plant hormones, which favor germination and root growth.
Among the three types of biofertilizers covered in this study, nitrogen-fixing biofertilizers are used for leguminous and non-leguminous crops. They are used to grow other crops as well, especially rice and sugarcane. On the other hand, phosphate solubilizing & mobilizing biofertilizers secrete organic acids and lower the pH in the nearby soil, which dissolves the phosphates in the soil. Potash solubilizing & mobilizing biofertilizers are used in various crops such as wheat, cotton, paddy, barley, and sorghum. They are also used for vegetables such as potatoes, eggplants, cauliflowers, cabbages, and onions, besides being used for flowers and medicinal crops.
Biofertilizers are used as an alternative to chemical fertilizers for crop protection and to increase soil fertility. These biofertilizers are found either in liquid form or with the help of carriers—solid form. The choice of the formulation is based on effective and easy application, end-user requirements, and equipment availability. A large number of factors that can affect the economic feasibility of biofertilizers include the purpose, market requirements, variability of field performance, cost of production, and several technological challenges, including fermentation, formulation, and delivery systems.
The North American market is projected to dominate the market due to the rising demand for organic products, increasing acceptance of biofertilizers among rural farmers, and high adoption of advanced irrigation systems such as drip & sprinkler irrigation for fertigation. A stringent regulatory environment in addition to a growing preference for the usage of biofertilizer products has led to the favorable growth of the market. Industrialization, mining, and urbanization have led to a decrease in arable land in North America.

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