Overview and Scope
Rhizobium bacteria fertilizers refer to a type of biofertilizer made up of Acetobacter bacteria, which may colonize plant roots and fix atmospheric nitrogen. Rhizobium is known to form colonies on the surface of the roots, promoting biological nitrogen fixation and supplying nitrogen to leguminous crops. As a result, this process is thought to be important for increasing yield and soil fertility.
Sizing and Forecast
The rhizobium bacteria fertilizers market size has grown strongly in recent years. It will grow from $2 billion in 2023 to $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to early adoption by progressive farmers, agricultural sustainability movement, scientific research, initial market competitiveness, green revolution legacy..
The rhizobium bacteria fertilizers market size is expected to see strong growth in the next few years. It will grow to $3.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to consumer demand for sustainable products, precision agriculture techniques, market expansion, climate change mitigation.. Major trends in the forecast period include sustainable agriculture practices, organic farming trends, rising environmental concerns, government support and policies, crop yield and quality enhancement..
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Segmentation & Regional Insights
The rhizobium bacteria fertilizers market covered in this report is segmented –
1) By Type: Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing, Other Types
2) By Crop Type: Cereals And Grains, Pulses And Oilseeds, Fruits And Vegetables, Other Crop Types
3) By Technology: Carrier Enriched Biofertilizers, Liquid Biofertilizers
4) By Application: Seed Treatment, Soil Treatment, Other Applications
Asia-Pacific was the largest region in the rhizobium bacteria fertilizers market in 2023. The regions covered in the rhizobium bacteria fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in demand for organic products is expected to propel the growth of the rhizobium bacteria fertilizers market going forward. Organic products refer to products made from organic farming or agricultural materials. The increasing demand for organic products will benefit the rhizobium bacteria fertilizer. Rhizobium bacteria could reduce the need for artificial fertilizers by fixing atmospheric nitrogen, which is needed for crop production. Using biofertilizers such as rhizobium bacteria fertilizers can assist in fulfilling the nutritious food need of the world’s growing population. For instance, in December 2022, according to the U.S. Department of Agriculture’™s National Agricultural Statistics Service, organic product sales reached $11.2 billion in total in 2020, up by $1.28 billion representing a growth of 13%. Additionally, in May 2021, according to a report published by Organic Trade Association, a US-based business association for the organic industry, organic product sales in the United States surged to new highs in 2020, increasing by a record 12.4 percent to $61.9 billion, boosting U.S. organic food sales in 2020 up a record 12.8 percent to a new high of $56.4 billion when compared to prior years. Therefore, an increase in demand for organic products is driving the growth of rhizobium bacteria fertilizers.
Key Industry Players
Major companies operating in the rhizobium bacteria fertilizers market report are Yara International Asa, Nutrien Ltd., Eurochem Group Ag, Lallemand Inc., Aumgene Biosciences Pvt. Ltd., Cf Industries Holdings Inc., Vegalab S.A, Sinofert Holdings Limited, Seipasa, Coromandel International Limited, Symborg Sl, Rizobacter Argentina Sa, Jaipur Bio Fertilizers, Green Vision Life Sciences Pvt. Ltd., Unicrop Biochem, Criyagen Agri & Biotech Private Limited, Indian Farmers Fertilizer Cooperative Limited, Madras Fertilizers Limited, National Fertilizers Limited, Novozymes A/S, Gujarat Bio Organics Pvt. Ltd., Nova Agri Tech Ltd., Md Biocoals Pvt. Ltd., Sln Biologicals Llp, Harmony Ecotech Pvt. Ltd., Manidharma Biotech Pvt. Ltd., Nature Agrocare & Research Private Limited, Terrapreta Agrove, Utkarsh Agrochem Private Limited, Tari Bio-Tech
The rhizobium bacteria fertilizers market report table of contents includes:
1. Executive Summary
2. Rhizobium Bacteria Fertilizers Market Characteristics
3. Rhizobium Bacteria Fertilizers Market Trends And Strategies
4. Rhizobium Bacteria Fertilizers Market – Macro Economic Scenario
5. Global Rhizobium Bacteria Fertilizers Market Size and Growth
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31. Global Rhizobium Bacteria Fertilizers Market Competitive Benchmarking
32. Global Rhizobium Bacteria Fertilizers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Rhizobium Bacteria Fertilizers Market
34. Rhizobium Bacteria Fertilizers Market Future Outlook and Potential Analysis
35. Appendix
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