Commercialization and Market Perspectives of Biofertilizers Through Advanced Approaches

The growing interest in lowering the dependency on agrochemicals, increasing consumer preferences toward more nutritious and organic food, coupled with the pressing need for sustainable agricultural practices, has necessitated the deployment of biofertilizers as an alternative to chemical fertilizers. Biofertilizers are eco-friendly products consisting of living organisms that improve soil health, enhance nutritional uptake to plants as well as protect them from phytopathogens. The market for biofertilizers is segmented based on product type, crop type, microorganism type, mode of application, and the region where they are applied. According to estimates, the global biofertilizer market was valued at USD 2.8 billion in 2022 and is anticipated to reach USD 5.2 billion by 2028.The key factors driving the biofertilizer market are increased awareness and adoption of sustainable agriculture practices supported by government initiatives and policies, however, challenged by high production cost, technicality, and skill need. Nevertheless, the industry is in nascent stage but holds a promising future in the years to come.