Global Biofertilizers Market is Estimated Value at $3.8 Bn By 2025

Kavitakrishna12 Sep, 2019Business

The biofertilizers market is estimated to be valued at USD 2.0 billion in 2019 and is projected to grow at a CAGR of 11.2%, recording a value of USD 3.8 billion by 2025. The growth of the biofertilizers market is driven by the growing organic food industry, initiatives by government agencies, and increasing awareness about the need for sustainability in modern agriculture. Rising awareness of the hazards of chemical fertilizers is also accelerating market growth. However, environment and technological constraints along with poor infrastructure & high initial investment for biofertilizers manufacturing facilities, are hampering the market growth.