Biofertilizers Market Share Overview of Top Competitors, Gross Margin,& Forecast 2020 -2030
Market Overview The popularity of biofertilizers has grown slowly and rapidly in fields like agriculture firms. In recent years, the market for biofertilizers has seen rapid growth. The excessive use of agrochemicals on a farm can cause soil contamination. The biofertilizers are used to improve the nutrient absorption capacity. Along with that, biofertilizers are used to grow and develop plants. Among all the biofertilizers, the Nitrogen biofertilizers are one of the most dominating segments. The production of Nitrogen in the soil can impact badly on the market Biofertilizers Market Size was valued at USD 1.8 Billion in 2022. The Biofertilizers market industry is projected to grow from USD 2.0 Billion in 2023 to USD 5.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.24% during the forecast period (2023 - 2032). Increasing prices of synthetic fertilizers globally, backed by consumers' response toward increasing prices for synthetically cultivated fo...