According to SPER Market Research analysis, the global biofertilizers market was USD 2.3 billion in 2019 and expected to generate USD 4.7 billion, registering a CAGR of 8.83% during the forecast period (2020-2027). The rising global population is creating a massive demand for large scale production in the agricultural sector. This factor expected to spur the growth of the global biofertilizers market over the forecast period. Biological fertilizer helps improving soil fertility. To increase crop yields to meet growing food demand, the use of fertilizers is increasing. Nitrogen fertilizer is one of the fertilizers used extensively in agricultural production, and biological nitrogen fixation is one of the ways to convert nitrogen into a form usable by plants. 

Due to the increase in per capita income, the cultivation and demand for fruits and vegetables are on the rise, the rise in health awareness has also increased the consumption of fruits and vegetables. The high return on investment has led to the increased use of biofertilizers, especially for fruit and vegetable cultivation, as consumers are willing to spend more on organic products.

Rapid economic development in developing countries resulted in augmented SPER Market Research. Analysts estimate the Biofertilizers have become a vital part of the agriculture industry includes regional analysis on North America Asia-Pacific, Europe, South America, and Middle East & Africa.

The report is based on in-depth qualitative and quantitative analysis of the Global Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

Browse report overview on "Global Biofertilizers Market by Form (Liquid, and Carrier-Based), by Type (Nitrogen-Fixing, Phosphate Solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), by Crop Type (Cereals, Legumes, Fruits and Vegetables, Plantation Crops and Other), by Application (Soil Treatment, Seed Treatment) and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)" at: https://www.sperresearch.com/report-store/Global-Biofertilizers-Market.aspx

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