As cited by the business intelligence report titled ‘Global Biofertilizers Market 2022-2028’, available with MarketStudyReport, global biofertilizers market which accumulated a valuation of USD 1788 million in 2021, is estimated to record a notable growth rate of 10.8% during 2022-2028 and subsequently amass a remuneration of USD 3666 million by the end of analysis period.

Growing popularity of precision farming and projected agriculture, along with rising environmental concerns, adoption of organic products, and cognizance of hazards related to chemical fertilizers are the major factors fostering global biofertilizers market growth.

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For the uninitiated, biofertilizers refer to living microbes that function to either enhance or mobilize nutritional content in the soil. A specific variety of microbial taxa that includes fungi and beneficial bacteria form the basic mixture of biofertilizers, as they are proven to be successful at colonizing the rhizoplane and rhizosphere.

Furthermore, increasing cognizance among agricultural producers regarding the positive impact of biological fertilizers on crop cultivation is likely to improve revenue flow for the industry in the forthcoming years.

Apart from growth drivers, the research literature illustrates key trends at a macro level to facilitate a clear understanding of market dynamics during the study period. Additionally, an intricate analysis of current and upcoming challenges along with precise solutions to tackle them is encompassed in the document.

Moving on, for the sake of a comprehensive assessment, worldwide biofertilizers market is bifurcated in terms of product type (potassium mobilizing biofertilizers, phosphate solubilizing biofertilizers, nitrogen fixing biofertilizers, others), crop type (grain & cereals, fruits & vegetables, oilseeds & pulses, others), microorganisms terrain (rhizobium, phosphate solubilizing bacteria, azotobacter, others), application spectrum (soil treatment, seed treatment, others), and regional expanse (Asia Pacific, North America, Europe). Each sub-segment is critically analyzed for stakeholders to identify major avenues for revenue generation and make well informed decisions.

Speaking of the competitive framework, Novozymes A/S, FMC Corporation, Lallemand Inc., Rashtriya Chemicals and Fertilizers Ltd., Gujarat State Fertilizers & Chemicals Ltd., Nutramax Laboratories Inc., BioWorks Inc., Pivot Bio, Camson Bio Technologies Ltd., Symborg Corporate S.L., Rizobacter Argentina S.A., UPL Ltd., T. Stanes & Company Ltd., Kiwa Bio-Tech Products Group Corporation, and Mapleton Agri Biotech Pty Ltd. are the top contenders influencing global biofertilizers market trends.