Global Rhizobium Bacteria Fertilizers Market Size 2024, Forecast To 2033
6 Mar, 2024
The rhizobium bacteria fertilizers market has exhibited robust growth, elevating from $2 billion in 2023 to $2.17 billion in 2024, representing a compound annual growth rate (CAGR) of 8.4%. The growth in the historical period is attributed to early adoption by progressive farmers, the agricultural sustainability movement, scientific research, initial market competitiveness, and the legacy of the green revolution. Foreseeing strong growth in the next few years, the market is projected to reach $3.05 billion in 2028 at a CAGR of 8.9%. The anticipated expansion in the forecast period can be attributed to consumer demand for sustainable products, the adoption of precision agriculture techniques, market expansion, and efforts towards climate change mitigation. Major trends during this forecast period include sustainable agriculture practices, the adoption of organic farming trends, rising environmental concerns, government support, and policies, along with a focus on enhancing crop yield and quality.
Global Rhizobium Bacteria Fertilizers Market Key Driver
The rhizobium bacteria fertilizers market is poised for growth due to an increasing demand for organic products. Organic products, derived from organic farming or agricultural materials, are experiencing rising popularity, consequently benefiting the rhizobium bacteria fertilizer market. Rhizobium bacteria play a crucial role in reducing the reliance on artificial fertilizers by fixing atmospheric nitrogen essential for crop production. The use of biofertilizers like rhizobium bacteria fertilizers aligns with the global need for nutritious food to support the growing population. In December 2022, the U.S. Department of Agriculture’s National Agricultural Statistics Service reported that organic product sales totaled $11.2 billion in 2020, showing a notable growth of 13%. Additionally, a report from the Organic Trade Association in May 2021 highlighted a record surge in organic product sales in the United States, reaching $61.9 billion in 2020, a growth of 12.4%, and organic food sales reaching $56.4 billion, a record increase of 12.8%. This surge in demand for organic products underscores the driving force behind the growth of the rhizobium bacteria fertilizers market, projecting positive market size values for 2023, 2024, and 2028.
Get A Free Sample Of The Global Rhizobium Bacteria Fertilizers Market ReportGlobal Rhizobium Bacteria Fertilizers Market Segments
The rhizobium bacteria fertilizers market covered in this report is segmented –
1) By Type: Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing, Other Types
2) By Crop Type: Cereals And Grains, Pulses And Oilseeds, Fruits And Vegetables, Other Crop Types
3) By Technology: Carrier Enriched Biofertilizers, Liquid Biofertilizers
4) By Application: Seed Treatment, Soil Treatment, Other Applications
By Geography:The regions covered in the rhizobium bacteria fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the rhizobium bacteria fertilizers market in 2023. The regions covered in the rhizobium bacteria fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Rhizobium Bacteria Fertilizers Industry Players
Yara International Asa, Nutrien Ltd., Eurochem Group Ag, Lallemand Inc., Aumgene Biosciences Pvt. Ltd., Cf Industries Holdings Inc., Vegalab S.A, Sinofert Holdings Limited, Seipasa, Coromandel International Limited, Symborg Sl, Rizobacter Argentina Sa, Jaipur Bio Fertilizers, Green Vision Life Sciences Pvt. Ltd., Unicrop Biochem, Criyagen Agri & Biotech Private Limited, Indian Farmers Fertiliser Cooperative Limited, Madras Fertilizers Limited, National Fertilizers Limited, Novozymes A/S, Gujarat Bio Organics Pvt. Ltd., Nova Agri Tech Ltd., Md Biocoals Pvt. Ltd., Sln Biologicals Llp, Harmony Ecotech Pvt. Ltd., Manidharma Biotech Pvt. Ltd., Nature Agrocare & Research Private Limited, Terrapreta Agrove, Utkarsh Agrochem Private Limited, Tari Bio-Tech
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Rhizobium Bacteria Fertilizers Market Overview
Rhizobium bacteria fertilizers refer to a type of biofertilizer made up of Acetobacter bacteria, which may colonize plant roots and fix atmospheric nitrogen. Rhizobium is known to form colonies on the surface of the roots, promoting biological nitrogen fixation and supplying nitrogen to leguminous crops. As a result, this process is thought to be important for increasing yield and soil fertility.
Rhizobium Bacteria Fertilizers Global Market Report 2023 provides data on the global rhizobium bacteria fertilizers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The rhizobium bacteria fertilizers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.