The global biofertilizers industry was valued at USD 2.53 billion in 2024 and is expected to expand from USD 2.81 billion in 2025 to USD 6.34 billion by 2032, reflecting a CAGR of 12.31% throughout the forecast period. In 2024, the Asia Pacific region accounted for the largest share of the market at 30.83%.
Biofertilizers—often referred to as bioinoculants—consist of living microorganisms that enhance plant nutrition by colonizing the rhizosphere when applied to seeds or soil. Key organisms used include cyanobacteria, nitrogen-fixing bacteria, phosphate-solubilizing microbes, and certain molds. These biological agents accelerate soil microbial activity, improving nutrient availability in plant-absorbable forms. Beyond boosting nutrient uptake, they help increase crop productivity, improve soil fertility, and offer natural protection against pests and plant diseases. As agricultural systems shift toward sustainable and eco-friendly practices, the demand for biofertilizers continues to rise globally.
The market includes several major manufacturers such as Novozymes A/S, Lallemand Inc., and BioWorks Inc. Growth strategies like new product introductions and geographic expansion have helped these companies strengthen their presence worldwide. Additionally, government subsidies in various countries are making biological fertilizers more accessible to farmers, further supporting market growth.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/biofertilizers-market-100413
