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Report
Asia-Pacific Biofertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2023-04-26 I 178 Pages I Mordor Intelligence
The Asia-Pacific Biofertilizer Market size is estimated at USD 552.57 million in 2024, and is expected to reach USD 900.73 million by 2029, growing at a CAGR of 10.27% during the forecast period (2024-2029).
Key Highlights
-Azotobacter is the Largest Form : Azotobacter is a non-symbiotic nitrogen-fixing bacteria. It is utilized as a bio-fertilizer for all non-leguminous plants, particularly rice, cotton, and vegetables.
-Rhizobium is the Fastest-growing Form : Rhizobium is a soil bacteria that aids leguminous plants in nitrogen fixation, potentially replacing commercial N fertilizers. Rhizobium increases agricultural productivity
-Row Crops is the Largest Crop Type : Rice, wheat, canola, barley, maize, and soybeans are the main row crops grown in the Region. Azotobacter dominated row crops, accounting for 29.2% of the market value in 2022.
-China is the Largest Country : The Azotobacter-based biofertilizers market is dominant in the country, they account for about 31.3% of the market value, which is valued at about USD 137.1 million in 2022
Asia-Pacific Biofertilizer Market Trends
Azotobacter is the largest Form
- Biofertilizers are live microorganisms that promote plant nutrition by mobilizing or increasing nutrient availability in soils. Mycorrhiza, Azospirillum, Azotobacter, Rhizobium, and phosphate-solubilizing bacteria are the microorganisms most commonly utilized as biofertilizers in agriculture. The biofertilizer market in the region grew by 4.6% during the historical period between 2017 and 2022. However, the market value of biofertilizers is anticipated to increase by about 77.9% by the end of the forecast period (2023-2029).
- Among these biofertilizers, Azotobacter is the most widely utilized in the Asia Pacific region, accounting for 29.5% of the market in 2022, with a value of USD 138.3 million. Azotobacter is a nitrogen-fixing bacterium that does not require symbiotic relationships to fix atmospheric nitrogen and make it available to plants. It is used as a biofertilizer for all non-leguminous plants, including rice, cotton, and vegetables.
- The consumption of biofertilizers is dominant in row crops, valued at about USD 383.5 million in 2022. The major row crops cultivated in the region include rice, wheat, barley, corn, and soybeans. The dominance of row crops is mainly due to their large organic cultivation area, which accounted for about 67.5% of the region's organic crop cultivation area in 2022.
- Government initiatives in various regional countries to promote organic or sustainable farming have increased in response to growing organic crop production and the rising demand for organic products in both domestic and international markets. These factors may have an impact on the market throughout the forecast period. The value of the Asia-Pacific biofertilizer market is anticipated to increase by about 77.9% by the end of the forecast period, recording a CAGR of 8.6%.
China is the largest Country
- The organic area under cultivation in Asia-Pacific expanded significantly over the historical period (2017-2022), going from 3.1 million hectares in 2017 to 3.8 million hectares in 2022, owing to the growing demand for organically cultivated food in many Asia-Pacific countries. As a result, the Asia-Pacific biofertilizer market expanded by 4.6% during the historical period.
- The most popular biofertilizer in Asia-Pacific is Azotobacter, which accounted for 29.6% of the market in 2022, valued at USD 134.4 million. It can be used as a biofertilizer in agriculture to make crop production more sustainable through its ability to fix nitrogen and solubilize bacteria.
- Azotobacter as bioinoculants have been demonstrated to increase agricultural productivity by 10-12%, leading to the synthesis of significant amounts of biologically active compounds, including nicotinic acid, biotin, heteroauxins, vitamin B, and gibberellins, which support root development and mineral absorption. The majority of non-leguminous crops, including rice, wheat, millets, cotton, tomato, cabbage, mustard, and safflower, are recommended for Azotobacter use.
- China held 93.5% of the total biofertilizer market value in 2022, making it the dominant country in the region. Row crops dominated the Chinese biofertilizer market in 2022, accounting for 82.3%. Row crops held a major organic acreage in the country, which was 2.1 million hectares in 2022.
- Due to rising consumer interest in organic products, farmers have become more aware of the disadvantages of relying on agricultural chemical inputs and rising organic acreage. The demand for biofertilizers in Asia-Pacific is anticipated to increase throughout the forecast period, with a CAGR of 8.6%.
Asia-Pacific Biofertilizer Industry Overview
The Asia-Pacific Biofertilizer Market is fragmented, with the top five companies occupying 36.97%. The major players in this market are Biostadt India Limited, Gujarat State Fertilizers & Chemicals Ltd, Indian Farmers Fertiliser Cooperative Limited, Kiwa Bio-Tech and The Fertilizers and Chemicals Travancore Limited (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Area Under Organic Cultivation
4.2 Per Capita Spending On Organic Products
4.3 Regulatory Framework
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 Form
5.1.1 Azospirillum
5.1.2 Azotobacter
5.1.3 Mycorrhiza
5.1.4 Phosphate Solubilizing Bacteria
5.1.5 Rhizobium
5.1.6 Other Biofertilizers
5.2 Crop Type
5.2.1 Cash Crops
5.2.2 Horticultural Crops
5.2.3 Row Crops
5.3 Country
5.3.1 Australia
5.3.2 China
5.3.3 India
5.3.4 Indonesia
5.3.5 Japan
5.3.6 Philippines
5.3.7 Thailand
5.3.8 Vietnam
5.3.9 Rest Of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Atlantica Agricola
6.4.2 Biolchim SpA
6.4.3 Biostadt India Limited
6.4.4 Gujarat State Fertilizers & Chemicals Ltd
6.4.5 Indian Farmers Fertiliser Cooperative Limited
6.4.6 IPL Biologicals Limited
6.4.7 Kiwa Bio-Tech
6.4.8 Sustane Natural Fertilizer Inc.
6.4.9 Symborg Inc.
6.4.10 The Fertilizers and Chemicals Travancore Limited
7 KEY STRATEGIC QUESTIONS FOR AGRICULTURAL BIOLOGICALS CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
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