Biofertilizers Market Analysis, Growth Trends, and Segment Forecasts, 2012 to 2020

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Biofertilizers Market Analysis, Growth Trends and Segment

Forecasts, 2012 To 2020

The global market for biofertilizers is expected to reach USD 1,294.8 million by 2020. Increasing

consumer adoption of organic foods is a key factor expected to boost the demand for biofertilizers. In

addition, a favorable regulatory policy, especially in India and China, promoting sustainable

agrochemicals, is expected to drive demand shift from synthetic fertilizers to biofertilizers.

Apart from sustainability, key biofertilizer advantages include sustaining soil health, supplement

chemical fertilizers, increase grain yield, secrete plant growth substances, solubilize and mobilize

nutrients. Nitrogen fixation biofertilizers were the most dominant product in the market and accounted

for over 75% in 2012.

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Increasing prices of nitrogen fixation chemical fertilizers has also had an impact on driving biofertilizer

adoption rate. Phosphate solubilizing biofertilizers are expected to witness fastest growth over the

forecast period. The primary applications of biofertilizers include seed treatment and soil treatment,

with seed treatment being the dominant application. However, soil treatment is the dominant

application in Asia Pacific due to the preference on biofertilizers over chemical fertilizers on account of

the lower price.

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Further key findings from the study suggest:

The global biofertilizers market is expected to reach USD 1,294.8 million by 2020, growing at a CAGR of

15.4% from 2013 to 2020.

North America and Latin America dominated the biofertilizers market in 2012, together accounting for

over 60% of the market revenue. The...