According to MarkNtel Advisors study the India Bio-Fertilizer market size is estimated to grow at a CAGR of about 8.65% during the forecast period 2024-30.

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Key Findings of the Study: India Bio-Fertilizers market

India Bio-Fertilizers Market Driver:

Expanding Agricultural Activities & Exports Enhancing Market Growth – In recent years, India has witnessed population growth & surge in urbanization rate. The total population of India is estimated to be around 1.42 billion in 2023, an increase of about 11 million compared to the previous year, stated the World Bank. This, is in turn, raising the demand for agricultural food products like fruits & vegetables. Hence, farming activities in India are increasing to fulfill the requirement for edible products.

The country has signed preferential trade agreements with countries like the US, the UAE, etc., owing to which it sends off a significant amount of agricultural products to these neighboring countries. The trade of the products also strengthens the economy. Therefore, during 2019-2023, the country exported higher agricultural products to rebuild its economy. Hence, to fulfill the growing local & global demand for food products, farming in India has been on the rise. Based on statistics by the Press Information Bureau (PIB), the total food grains production in FY2023 reached 329.7 million tonnes, an increase of about 14.1 million tonnes compared to the previous year. The farmers are using natural composts since these organic substances help facilitate plant growth faster & maintain the soil quality. Therefore, the rising agricultural activities within India are increasing the need for Bio-fertilizers, driving India's Bio-fertilizer Market.   

India Bio-Fertilizers Market Challenge:

Inclination Towards Low-Cost Traditional Chemicals Hinder the Market Growth– Bio-fertilizers are developed using organisms, such as beneficial bacteria, fungi, or enzymes, & require specific conditions, like balanced temperature & pH. Along with this, the production of bio-fertilizers requires specialized equipment, laboratory facilities, and skilled personnel. As a result, the production cost of bio-fertilizers is relatively higher. Therefore, to earn a profit & have economies of scale, the major players in the India Bio-Fertilizers market sell their products at higher costs. The cost of conventional fertilizer in India is approximately USD0.066/Kg, whereas the price of bio-fertilizer is about USD2.04/Kg. As a result, the farmers usually buy traditional chemicals rather than bio-fertilizers, hindering market growth.

Furthermore, the bio-fertilizers are manufactured using living microbes. Therefore, the life shelf of bio-fertilizers is comparatively lower than the traditional chemicals. Hence, the farmers seek to use conventional chemicals. In addition, these fertilizers require careful handling & storage space, an additional overhead cost for the farmers. Hence, the farmers look out for chemical fertilizers that are easy to use, low priced, and have a higher shelf life, slowing down the sales of bio-fertilizers in India.

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Scope of the Report and India Bio-Fertilizers Market Segmentation:

By Microorganisms

• Rhizobium
• Azospirillum
• Azotobacter
• Acetobacter
• Others (Vesicular Arbuscular Mycorrhizae (VAM), Bacillus, etc.)

By Type

• Nitrogen Fixing
• Phosphate Solubilizing
• Others (Zinc-solubilizing, Potassium-mobilizing bio fertilizers, etc.)

By Application

• Foliar
• Soil Treatment
• Seed Treatment

Of them, Foliar holds a prominent market share since they quickly provide nutrients and reduce stress conditions & growth constraints.

By Crop Type

• Fruits
• Vegetables
• Cereals & Grains
• Turfs
• Ornamentals
• Other (Oil Seeds, Pulses, etc.) 

India Bio-Fertilizers Market Competitive Landscape

• Indian Farmers Fertilizer Cooperative (IFFCO)
• AgriLife (SOM Phytopharma (India) Limited)
• Valagro Inc.
• Bayers AG
• Koppert Biological Systems
• United Phosphorus Ltd
• Hifield Organics Inc.
• Biostadt India Limited
• Sushila Biofertilizer Company P. Limited
• National Fertilizers Limited
• IPL Biologicals Limited
• Sri Vijaya Bio Fertilizers (India) Pvt. Ltd
• Others

India Bio-Fertilizers Market Development:

• 2023: Indian Farmers Fertilizer Cooperative (IFFCO): Procured around 2,500 agri-drones to spray nano fertilizers, bio-stimulants, and bio-fertilizers to enhance plant growth in the country.

Geographical Analysis:

By Region

• North
• East
• West
• South

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