Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.81 Billion | USD 4.5 Billion | 12% | 2021 |
FrequentlyAsked Questions
The global biofertilizers market is projected to benefit from the growing concerns over the deteriorating health of soils' natural texture across the globe. Synthetic or heavy chemical fertilizers have been used in the agriculture sector for many decades because earlier they showed promising results in terms of better crop yield, and providing necessary nutrients for different crops.
According to Zion Market Research, the global biofertilizers market size was worth around USD 1.81 billion in 2021 and is predicted to grow to around USD 4.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 12% between 2022 and 2028.
The global biofertilizers market is projected to be dominated by North America which generated over USD 549 million in revenues in 2021. The increasing number of organic farms in the USA, Mexico, and Canada region is a major factor contributing to the regional growth.
The global biofertilizers market is dominated by players like Lallemand Inc., CBF China Biofertilizers, Fertilizers USA LLC, Novozymes A/S, Symborg SL, Bioceres S.A, and AgriLife
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