The global biofertilizers market is projected to witness significant growth in the coming years, driven by rising concerns over the negative impacts of chemical fertilizers on human health and the environment.

Chemical fertilizers have been widely used in agriculture for decades to boost crop yields. However, their excessive use has been linked to a number of problems, such as:

• Soil degradation: Chemical fertilizers can contribute to soil acidification, erosion, and loss of organic matter.
• Water pollution: Chemical fertilizers can runoff into waterways, causing eutrophication and harming aquatic life.
• Human health concerns: Chemical fertilizers have been linked to a number of health problems, such as cancer, respiratory problems, and birth defects.

As awareness of these problems grows, farmers are increasingly looking for more sustainable alternatives to chemical fertilizers. Biofertilizers are a promising solution that offers a number of advantages over chemical fertilizers:

• Environmental benefits: Biofertilizers are made from living microorganisms that help to improve soil health and fertility. They do not pollute the environment and can help to reduce greenhouse gas emissions.
• Improved crop yields: Biofertilizers can help to improve crop yields by increasing nutrient availability and enhancing plant growth.
• Enhanced food quality: Biofertilizers can help to improve the quality of food by increasing the nutrient content of crops.

The growing demand for organic food is also driving the growth of the biofertilizers market. Organic food is produced without the use of synthetic fertilizers or pesticides. As consumers become more aware of the health and environmental benefits of organic food, the demand for organic products is increasing.

In addition to the rising demand for organic food, a number of other factors are driving the growth of the biofertilizers market, such as:

• Government support: Governments in many countries are providing subsidies and other forms of support to promote the use of biofertilizers.
• Increasing awareness of the benefits of biofertilizers: Farmers are becoming more aware of the benefits of biofertilizers, such as their ability to improve soil health and crop yields.
• Technological advancements: Technological advancements in the production and application of biofertilizers are making them more effective and affordable.

Some of the key players in the biofertilizers market include:

• Novozymes
• BASF
• Bayer
• Yara International
• Syngenta
• UPL
• Coromandel International
• IFFCO
• Gujarat State Fertilizers & Chemicals

According to Stratview Research, the global biofertilizers market is expected to reach a value of $6.1 billion by 2028, growing at a CAGR of 11.94% from 2023 to 2028. The Asia Pacific region is expected to be the fastest-growing market, followed by North America and Europe.

The growth of the biofertilizers market is being driven by a number of factors, including rising concerns over the negative impacts of chemical fertilizers, the growing demand for organic food, and government support. As these factors continue to drive demand, the biofertilizers market is expected to continue to grow rapidly in the coming years.