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Source: https://www.marketsandmarkets.com/ResearchInsight/biofertilizers-market-trends.asp

Category: Business

Tags: Biofertilizers Market

The global biofertilizers market, valued at USD 2.8 billion in 2022, is projected to reach USD 5.2 billion by 2028, with a compound annual growth rate (CAGR) of 10.9% during this period. A key driver of this market is the increasing expanse of farmland worldwide. According to FiBL, the area of organic farmland reached 76 million hectares in 2021. Growing concerns about environmental health and the use of synthetic fertilizers in agriculture have also boosted the demand for biofertilizers across various regions. Additionally, government initiatives promoting sustainable practices are further accelerating the growth of the biofertilizers market.

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