Biofertilizers Market is Projected to Reach USD 4.17 Billion by 2032 with 12.9% CAGR

The global biofertilizers market size was USD 1.58 Billion in 2022 and is expected to reach USD 4.17 Billion in 2032, and register a revenue CAGR of 12.9% during the forecast period. Market revenue growth is primarily driven by factors such as rising demand for Organic Food Products, need for sustainable agriculture practices, and increasing awareness about the harmful effects of chemical fertilizers on the environment and human health.

Use of biofertilizers is gaining popularity among farmers and agriculturalists as these are eco-friendly and do not cause any harm to the soil or the environment. Biofertilizers are made from natural sources such as Plant Extracts, animal waste, and microorganisms, which help in improving soil fertility and plant growth. Rising demand for organic food products is driving demand for biofertilizers as these products are used to grow crops without use of harmful chemicals and Pesticides.

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Moreover, need for sustainable agriculture practices is driving demand for biofertilizers as these help in reducing use of chemical fertilizers and pesticides, which are harmful to the environment and human health. Use of biofertilizers also helps in reducing the carbon footprint of agriculture, which is a major contributor to greenhouse gas emissions.

Increasing awareness about the harmful effects of chemical fertilizers on the environment and human health is also driving demand for biofertilizers. Chemical fertilizers are known to cause soil degradation, water pollution, and health problems in humans and animals. Biofertilizers, on the other hand, are safe and do not cause any harm to the environment or human health.

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