The Latest Biofertilizers Industry Statistics Explained
The global biofertilizers market was valued at USD 1.34 billion in 2020.
The statistic stating that the global biofertilizers market was valued at USD 1.34 billion in 2020 indicates the total monetary worth of the biofertilizers industry worldwide during that specific year. This value encompasses the sales and revenue generated by companies producing and selling biofertilizers, which are natural fertilizers containing living organisms that help enhance soil fertility and promote plant growth. The market value implies the significant demand for sustainable agricultural practices and the increasing preference for organic and environmentally friendly alternatives to conventional chemical fertilizers. This figure serves as a key indicator of the size and economic importance of the biofertilizers market within the broader agricultural industry.
The biofertilizers industry is expected to register a CAGR of 11.7% during the forecast period 2021-2026.
This statistic indicates that the biofertilizers industry is projected to experience a Compound Annual Growth Rate (CAGR) of 11.7% over the period from 2021 to 2026. The CAGR is a measure of the consistent annual growth rate of a specific metric over a specified time frame. In this case, it suggests that the biofertilizers industry is expected to grow steadily at a rate of 11.7% per year on average during the forecasted period. This prediction highlights the potential for significant expansion and increasing demand for biofertilizers, which are organic fertilizers derived from natural sources, within the agriculture sector over the next five years.
North America held the largest share of the global Biofertilizers market in 2019.
This statistic indicates that North America had the highest percentage of market participation in the global Biofertilizers market in 2019 compared to other regions. This suggests that North America was the leading contributor to the overall market size and activities within the biofertilizers industry during that year. Factors such as technological advancements, government support for sustainable agriculture practices, and increasing awareness about the benefits of biofertilizers could have contributed to North America’s dominant position in the market. As a result, companies operating in North America likely played a significant role in shaping the trends and developments within the biofertilizers market in 2019.
The global Biofertilizers industry is expected to surpass $4.8 billion by 2027.
The statistic that the global biofertilizers industry is projected to exceed $4.8 billion by 2027 signifies a substantial growth opportunity within the industry. This growth can be attributed to several factors, including the increasing awareness and adoption of sustainable agricultural practices, the focus on reducing reliance on chemical fertilizers, and the rising demand for organic food products. Biofertilizers, which are derived from natural sources and promote soil health and fertility through the activities of beneficial microorganisms, are gaining popularity as environmentally friendly alternatives to traditional fertilizers. The projected market value reflects the growing importance of biofertilizers in modern agriculture and highlights the significant economic potential of this industry in the coming years.
Nitrogen-fixing biofertilizers accounted for a market share of 55.8% in 2019.
This statistic indicates that nitrogen-fixing biofertilizers made up 55.8% of the total market share within the fertilizers industry in 2019. Nitrogen-fixing biofertilizers are a specific type of product that enhances soil fertility and plant growth by facilitating nitrogen fixation, a process that converts atmospheric nitrogen into a form that plants can readily absorb. The substantial market share of 55.8% suggests that these biofertilizers were in high demand among farmers and agricultural practitioners due to their perceived environmental benefits, effectiveness in improving crop yields, and potentially lower impact on soil and water quality compared to synthetic fertilizers. This indicates a shift towards a more sustainable and environmentally conscious approach to agriculture practices within the industry during that year.
The market for phosphate-solubilizing biofertilizers is expected to grow at the highest CAGR during 2021-2026.
This statistic suggests that the market for phosphate-solubilizing biofertilizers is anticipated to experience significant growth in terms of Compound Annual Growth Rate (CAGR) between the years 2021 and 2026. This indicates a high rate of expansion and market demand for biofertilizers specifically formulated to improve phosphate solubility in soil, thereby enhancing plant nutrient uptake and growth. The projected growth in this market segment signals increasing awareness and adoption of sustainable agricultural practices, as farmers seek alternatives to chemical fertilizers for improved soil health and crop productivity. Overall, the forecasted high CAGR for phosphate-solubilizing biofertilizers points towards a promising outlook and opportunities for stakeholders in the agriculture and biofertilizer industries in the coming years.
China is the leading producer of biofertilizers, followed by India and Mexico.
The statistic “China is the leading producer of biofertilizers, followed by India and Mexico” indicates that China has the highest production of biofertilizers among countries, with India and Mexico ranking second and third, respectively. This information suggests that China has a significant role in the global biofertilizer market, likely due to factors such as agricultural practices, government policies, and investment in sustainable agriculture. India and Mexico’s positions in the ranking highlight their own contributions to biofertilizer production and their importance in promoting environmentally friendly farming practices. Overall, this statistic provides insight into the distribution of biofertilizer production across countries and the potential impact of these products on agricultural sustainability and productivity.
The liquid carrier segment for biofertilizers was the largest in 2019, accounting for a share of 62.8%.
The statistic suggests that within the biofertilizer industry in 2019, the liquid carrier segment was the most dominant, holding a majority share of 62.8%. This indicates that a significant portion of biofertilizers sold or utilized in that year were in liquid form. The preference for liquid carriers could be due to factors such as ease of application, better absorption by plants, or the availability of a wider range of nutrients in liquid form. This statistic is important for market analysis and strategic decision-making within the biofertilizer industry, as it highlights the key role and market presence of liquid carriers in driving the overall usage and adoption of biofertilizers.
The application of biofertilizers in cereals and grains was the highest, accounting for a market share of 37.2% in 2019.
In 2019, the utilization of biofertilizers in the cultivation of cereals and grains dominated the market, accounting for a substantial market share of 37.2%. This statistic indicates that biofertilizers are increasingly being adopted in the agricultural sector for the production of cereals and grains. The high market share suggests that farmers are recognizing the benefits of biofertilizers in enhancing crop yields, improving soil health, and reducing environmental impact compared to synthetic fertilizers. The trend towards using biofertilizers in cereals and grains highlights a growing awareness and preference for sustainable agricultural practices that can potentially lead to more environmentally friendly and resilient farming systems in the future.
Latin America is expected to emerge as the fastest-growing regional market over the forecast period.
This statistic means that Latin America is projected to experience the highest rate of growth among all regional markets during a specified forecast period. This growth is expected to outpace that of other regions, indicating a favorable outlook for economic and business opportunities in Latin America. Factors contributing to this projected growth could include favorable demographic trends, increasing investments in infrastructure, improved political stability, and expanding markets for goods and services. Businesses and investors may find Latin America to be an appealing region for expansion and investment based on the expectation of robust economic growth in the coming years.
The seeds treatment application segment is projected to grow at the highest CAGR during the forecast period.
This statistic indicates that within the context of a forecast period, the seeds treatment application segment is expected to experience the highest Compound Annual Growth Rate (CAGR) compared to other segments. This suggests that the demand for seeds treatment applications, such as seed coating, seed dressing, or seed disinfection, is likely to increase at a faster rate than other areas within the industry. The projection of a high CAGR signifies potential opportunities and market growth in the seeds treatment application segment, making it an area of focus for businesses and investors seeking growth in the industry.
The major players in the biofertilizer market include Novozymes, Kiwa Bio-Tech, and Rizobacter Argentina.
The statistic provided mentions the key players in the biofertilizer market, highlighting Novozymes, Kiwa Bio-Tech, and Rizobacter Argentina as major contenders within this industry. This information suggests that these companies are prominent in the development and distribution of biofertilizers, which are becoming increasingly popular due to their environmentally friendly and sustainable attributes. Recognizing these companies as major players in the market implies that they have a significant market share, and are likely driving innovation and competition within the biofertilizer sector. Monitoring the activities and performance of these firms can provide valuable insights into the trends and developments shaping the biofertilizer industry.
Soybean crops grabbed the largest share in the biofertilizers industry in 2019.
The statistic “Soybean crops grabbed the largest share in the biofertilizers industry in 2019” indicates that soybean crops accounted for the highest proportion of the market for biofertilizers in that year. This suggests that soybean cultivation widely adopted the use of biofertilizers as a means of enhancing plant growth and soil fertility. The popularity of soybean crops in utilizing biofertilizers could be attributed to the crop’s high nitrogen-fixing capabilities, which make them particularly responsive to the benefits of biofertilizers. This statistic highlights the significant role of soybean in driving the demand and growth of the biofertilizers industry in 2019.
Europe is expected to be the second-largest biofertilizers market during the forecast period 2021-2026.
The statistic stating that Europe is expected to be the second-largest biofertilizers market during the forecast period 2021-2026 indicates that within the specified time frame, Europe is projected to have significant growth and adoption of biofertilizers compared to other regions. This suggests that there is a growing trend towards the use of biofertilizers in European agriculture, potentially driven by factors such as increasing awareness of sustainable farming practices, environmental concerns, and regulatory support for organic agriculture. The forecast points to a promising market opportunity for biofertilizer producers and suppliers in Europe, highlighting the region’s potential as a key player in the biofertilizers industry in the coming years.
Microbials hold the largest share in the biofertilizers market.
The statistic that microbials hold the largest share in the biofertilizers market indicates that microbial-based products are the most dominant category within the biofertilizer industry. Microbial biofertilizers contain beneficial microorganisms such as bacteria, fungi, and algae that help enhance plant growth and improve soil fertility. This trend highlights the growing popularity and adoption of microbial biofertilizers among farmers and agricultural producers. The effectiveness of microbials in promoting sustainable agriculture practices, enhancing crop yields, and reducing reliance on chemical fertilizers has contributed to their market dominance within the biofertilizer sector. Overall, this statistic underscores the importance of microbial-based solutions in the agricultural industry’s shift towards more environmentally friendly and sustainable farming practices.
The compound biofertilizers segment is projected to reach USD 1,557.8 million by 2025.
The statistic suggests that the compound biofertilizers segment, which includes biofertilizers that are a combination of multiple beneficial microorganisms, is forecasted to achieve a market value of USD 1,557.8 million by the year 2025. This projection implies a significant growth opportunity for the compound biofertilizers industry, indicating an increasing demand for environmentally friendly agricultural practices and sustainable farming methods. The anticipated market expansion could be driven by factors such as a rising awareness about the benefits of biofertilizers, the growing focus on organic farming, and the increasing adoption of eco-friendly agricultural inputs by farmers globally.
As of 2019, Rhizobium biofertilizers are dominating the biofertilizers market.
The statistic ‘As of 2019, Rhizobium biofertilizers are dominating the biofertilizers market’ indicates that Rhizobium-based biofertilizers have a significant market share and are leading in terms of popularity and usage compared to other types of biofertilizers. This suggests that Rhizobium biofertilizers, which contain Rhizobium bacteria that form symbiotic relationships with leguminous plants to fix atmospheric nitrogen and improve soil fertility, are likely preferred by farmers and agricultural industries for enhancing crop productivity and sustainability. The dominance of Rhizobium biofertilizers in the market may be attributed to their proven effectiveness, environmental benefits, and potential economic advantages, influencing their widespread adoption and market prevalence within the biofertilizer industry.
Conclusion
The statistics show a growing trend in the biofertilizers industry, with increasing adoption and investment in sustainable agricultural practices. As awareness about the environmental benefits of biofertilizers continues to rise, it is clear that this industry is poised for further expansion and innovation in the coming years.
References
0. – https://www.www.marketsandmarkets.com
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2. – https://www.www.researchandmarkets.com
3. – https://www.www.globenewswire.com
4. – https://www.www.mordorintelligence.com
5. – https://www.www.fortunebusinessinsights.com
