Asia-Pacific Biofertilizers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 552.5 Million |
| Market Size (2029) | USD 900.70 Million |
| CAGR (2024 - 2029) | 10.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Biofertilizers Market Analysis
The Asia-Pacific Biofertilizers Market size is estimated at USD 552.5 million in 2024, and is expected to reach USD 900.70 million by 2029, growing at a CAGR of 10.10% during the forecast period (2024-2029).
Government initiatives in various regional countries to promote organic or sustainable farming have increased in response to growing organic crop production and the rising demand for organic products in domestic and international markets. These factors may have an impact on the market during the forecast period. The consumption of biofertilizers is dominant in row crops, valued at about USD 383.5 million in 2022. The major row crops cultivated in the region include rice, wheat, barley, corn, and soybeans. The dominance of row crops is mainly due to their large organic cultivation area, which accounted for about 67.5% of the region's organic crop cultivation area in 2022.
Asia-Pacific Biofertilizers Market Trends
The Practice of Organic Farming Increased
According to the FiBL report 2018, the leading countries by area were China (3 million hectares) and India (1.8 million hectares) in 2017. The countries in the region are providing subsidies and other financial assistance to farmers to promote organic farming in the respective countries.
For instance, Government of India is promoting biofertilizers through various schemes of National Mission for Sustainable Agriculture (NMSA)/ Paramparagat Krishi Vikas Yojana (PKVY), Rashtriya Krishi Vikas Yojana (RKVY), and National Mission on Oilseeds and Oil Palm (NMOOP), National Food Security Mission (NFSM), and Indian Council of Agricultural Sciences (ICAR).
Additionally, the rise in demand for organic products is booming due to an increase in conscientious consumers, increasing incomes, and improved farming practices that make organic yields more robust. Thus, the increasing demand for organic food has increased the area under organic farming, which is expected to boost the biofertilizer market in the region.
China is Expected to Dominate the Asia-Pacific Biofertilizer Market
Asia-Pacific is majorly influenced by the Chinese market, with the Chinese biofertilizer market projected to register a CAGR of 10.1% during the forecast period. The Chinese economy is moving toward a green agricultural practice by encouraging farmers to scale back the use of chemical fertilizers and switch to bio-based and organic alternatives.
In 2017, China's Ministry of Agriculture released a pilot plan for fertilizer replacement in around 100 districts of China, which aimed at reducing the chemical use of fertilizers by at least 20% by 2020. At present, the number of microbial fertilizer producers has been growing every year. Some larger fertilizer manufacturers have also stepped into the industry. China has over 300 biofertilizer-producing enterprises with an annual product output of about half a million metric tons.
Asia-Pacific Biofertilizers Industry Overview
The Asia-Pacific biofertilizer market is fragmented, as there are many players with small shares in the market. Major companies operating in the region, such as Syngenta, Agrinos, and National Fertilizer Ltd, are adopting various strategies, such as product launches, partnerships, and acquisitions, to gain a larger share of the market. For instance:
- June 2018: Kiwa Bio-Tech Products Group Corp established a cooperative relationship with Postal Savings Bank of China Co. Ltd ('PSBC'), Shaanxi Branch, to provide financial support to its clients, including crop growers, family farms, and farmers' professional cooperatives.
- June 2017: Symborge took an equity position in Thinkbio, an Australian agtech company, to collaborate on microbial research, development, and innovation initiatives to strengthen their collective biotechnology product solutions.
Asia-Pacific Biofertilizers Market Leaders
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Agrinos AS
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National Fertilizers Limited
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Kiwa Bio-Tech
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BioAg Pty Ltd
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Australian Bio Fert Pty Ltd.
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Biofertilizers Market News
September 2022: Corteva Agriscience agreed to acquire Symborg Inc. to strengthen its global presence with a strong distribution network.
APAC Biofertilizers Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Microorganism
5.1.1 Rhizobium
5.1.2 Azospirillum
5.1.3 Azotobacter
5.1.4 Phosphate Solubilizing Bacteria
5.1.5 Mycorrhiza
5.1.6 Other Biofertilizers
5.2 Crop Type
5.2.1 Cash Crops
5.2.2 Horticultural Crops
5.2.3 Row Crops
5.3 Geography
5.3.1 China
5.3.2 Japan
5.3.3 India
5.3.4 Australia
5.3.5 Vietnam
5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Agrinos AS
6.3.2 CBF China Biofertilizers AG
6.3.3 Kiwa Bio-Tech Products Group Corporation
6.3.4 National Fertilizer Ltd
6.3.5 Agri Life
6.3.6 Camson Biotechnologies Limited
6.3.7 Symborg SL
6.3.8 Biomax Naturals
6.3.9 Criyagen Agri & Biotech Pvt Ltd
6.3.10 BioAg Pty Ltd
6.3.11 Australian Bio Fert Pty Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Biofertilizers Industry Segmentation
Biofertilizers are substances comprising living microbes, which, when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients. Moreover, inoculants that provide nutrients to the plants are considered biofertilizers in this report.
The Asia-Pacific biofertilizer market is segmented by microorganism (rhizobium, azospirillum, azotobacter, phosphorus solubilizing bacteria, mycorrhiza, and other biofertilizers), crop type (cash crops, horticultural crops, and row crops), and geography (China, Japan, India, Australia, Vietnam, and Rest of Asia-Pacific).
| Microorganism | |
| Rhizobium | |
| Azospirillum | |
| Azotobacter | |
| Phosphate Solubilizing Bacteria | |
| Mycorrhiza | |
| Other Biofertilizers |
| Crop Type | |
| Cash Crops | |
| Horticultural Crops | |
| Row Crops |
| Geography | |
| China | |
| Japan | |
| India | |
| Australia | |
| Vietnam | |
| Rest of Asia-Pacific |
APAC Biofertilizers Market Research FAQs
How big is the Asia-Pacific Biofertilizers Market?
The Asia-Pacific Biofertilizers Market size is expected to reach USD 552.5 million in 2024 and grow at a CAGR of 10.10% to reach USD 900.70 million by 2029.
What is the current Asia-Pacific Biofertilizers Market size?
In 2024, the Asia-Pacific Biofertilizers Market size is expected to reach USD 552.5 million.
Who are the key players in Asia-Pacific Biofertilizers Market?
Agrinos AS, National Fertilizers Limited, Kiwa Bio-Tech, BioAg Pty Ltd and Australian Bio Fert Pty Ltd. are the major companies operating in the Asia-Pacific Biofertilizers Market.
What years does this Asia-Pacific Biofertilizers Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Biofertilizers Market size was estimated at USD 496.70 million. The report covers the Asia-Pacific Biofertilizers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Biofertilizers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Biofertilizer Industry Report
Statistics for the 2024 APAC Biofertilizer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Biofertilizer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
APAC Biofertilizer Market Report Snapshots
