Biofertilizers Market Regulatory Framework And Compliance Issues

Biofertilizers Industry Overview

The global biofertilizers market size was valued at USD 1.66 billion in 2023 and is expected to grow at a CAGR of 13.3% from 2024 to 2030. The growth of the market is fueled favorable regulator scenario in Europe and North America coupled with significant technological innovations aimed at improving the biofertilizer production process.

The growing awareness of the environmental impact of synthetic fertilizers has prompted manufacturers worldwide to allocate more resources to research and development for biofertilizers. This increased focus is anticipated to drive the demand for biofertilizers in the foreseeable future. Moreover, there is an increasing demand for organic food products, particularly in North America and Europe, which is expected to positively influence the product market in the coming years. Furthermore, the increasing recognition of the advantages associated with bio-based agricultural inputs, such as biofertilizers, is anticipated to enhance market growth throughout the forecast period.

Gather more insights about the market drivers, restrains and growth of the Biofertilizers Market

Key Biofertilizers Company Insights

• CBF China Bio-Fertilizer AG is a Germany-based holding group that sells biofertilizers through its fully owned subsidiary Shandong Chengwu Jiuzhou Science & Technology Development Company Limited. Biofertilizers offered by the company are marketed in two forms, liquid and powder. The products are directly sold to agricultural co-operatives, distributors, and plantations under Xin Sheng Li brand name. The company’s products are used to increase the crop yield and to reduce the use of conventional fertilizers. It is licensed by the Ministry of Agriculture of the Government of China.

• Novozymes A/S, based in Denmark, is a biotechnology company involved in researching, developing, producing, and selling industrial enzymes, biopharmaceutical ingredients, and microorganisms. The company operates in household care, food & beverages, bioenergy, agriculture & feed, and technical & pharma segments. Novozymes is also part of The BioAg Alliance with Monsanto, aiming to develop improved products from natural sources. The company has operations in China, India, Brazil, Argentina, the UK, the US, and Canada.

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Recent Developments

• In May 2024, Fresh Del Monte formed a partnership to produce biofertilizers using fruit residues. The new biofertilizer plant is strategically located near Fresh Del Monte’s subsidiary in Kenya, Del Monte Kenya Ltd. The plant will utilize residues from the company’s pineapple cannery to create a variety of biofertilizers for internal use and potential sale to other growers in Kenya and East African countries.

• In August 2023, Bionema launched a new range of biofertilizer products in the UK. These products are encapsulated in a novel Incapsulex technology platform and are intended for use in agriculture, horticulture, forestry, sport turf, and amenities. This technology effectively encapsulates naturally derived microorganisms and delivers them to the target safely and effectively.