Press Release

India Bio-Fertilizer Market to Record Substantial CAGR of Around 8.65% During 2024-30

The India Bio-Fertilizer Market is projected to grow at a CAGR of 8.65% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. In recent times, India has shown rapid growth in population and accelerating urbanization. This population surge increased demand for fruits and vegetables, which has pushed up the farming of these items. Also, India has signed preferential trade agreements with some countries, including the US and the UAE, to ease the export of major agricultural products to those countries. The trade enables these countries to meet their local demand and also promotes the economy of India. There was a steep increase in agriculture product exports in the period from 2019 to 2023 to revive the nation's economy. Historically, farming has become much better to cater to both domestic and international demand. With this, the demand for bio-fertilizers also surged as the farmers turned toward using natural composts that improve plant growth while maintaining soil quality.

Furthermore, agriculture still forms a major share in the contribution to the GDP of India. Further, with a motive of stimulating further economic growth, the government is encouraging agricultural practices through many incentives and subsidies. This also includes encouraging farmers in the country to use natural and bio-fertilizers, and to minimize the use of chemical fertilizers. Hence, as the government is highly supportive of this transition, it is anticipated that the India Bio-fertilizer market will further accelerate in the next few years with an augmented demand for sustainable agricultural inputs, further states the research report, “India Bio-Fertilizer Market Analysis, 2024.”

India Bio-Fertilizer Market Segmentation Analysis

Nitrogen Fixing Bio-fertilizers to Dominate the India Bio-Fertilizer Market

Based on the Type segment, the market is further bifurcated into, Nitrogen Fixing, Phosphate Solubilizing, and Others (Zinc-solubilizing, Potassium-mobilizing bio fertilizers, etc.). Of these, nitrogen-fixing fertilizers have seen tremendous growth in demand in the recent past. This has been mainly because conventional chemical-based fertilizers like urea were causing severe damage to the environment in the form of soil hardening and high emission of greenhouse gases. Thus, these fertilizers tend to degrade the quality of the soil and are also somewhat responsible for air pollution. Hence, witnessing such negative impacts of chemical fertilizers, government authorities in India are focused on increasing the use of microbial-based biofertilizers that act as long-term alternates of chemical fertilizers. Therefore, with such initiatives, the demand for nitrogen-fixing biofertilizers would rise in the country during the coming years.

Also, nitrogen-fixing bio-fertilizers contain bacteria, available in both aerobic and anaerobic forms. Thus, they help farmers meet the nutrient requirements of crops in different environmental conditions. Therefore, nitrogen-fixing bio-fertilizers have witnessed growing demand in different parts of the country during the last few years.

Foliar Application to Hold Substantial Share in India Bio-Fertilizer Market

Based on Application, the market is divided into, Foliar, Soil Treatment, and Seed Treatment. Among them, the Foliar application method held a prominent share in the India Bio-Fertilizer market. The foliar method is very convenient to supply fertilizers to the plans as compared to other methods. Also, this method allows farmers to properly supplement their crops with the required nutrients in specific volumes. Hence, as the production of crops has been improving, and the knowledge regarding the feasibility of using foliar methods for crop protection enhances, the adoption of this would also grow.

Nonetheless, the soil quality has been substantially degrading over the past few years in India which has improved the need for specific nutrient transfer to the crops. Also, the foliar spray method facilitates faster nutrient uptake by the plant as compared to normal soil uptake. Hence, this application method would experience increased adoption, especially when plants experience nutrient deficiencies.  

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Indian Farmers Fertilizer Cooperative (IFFCO), AgriLife (SOM Phytopharma (India) Limited), Valagro Inc., Bayers AG, Koppert Biological Systems, United Phosphorus Ltd, Hifield Organics Inc., Biostadt India Limited, Sushila Biofertilizer Company P. Limited, National Fertilizers Limited, IPL Biologicals Limited,  Sri Vijaya Bio Fertilizers (India) Pvt. Ltd and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across India?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?