The biofertilizers market is experiencing significant growth as the global agricultural industry shifts towards sustainable and eco-friendly practices. Biofertilizers, composed of living microorganisms, enhance soil fertility and promote plant growth by increasing the availability of essential nutrients. This report delves into the current market trends, key drivers, challenges, and prospects of the Biofertilizers Market.
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The global biofertilizers market, valued at USD 2.8 billion in 2023, is projected to reach USD 5.2 billion by 2030, exhibiting a CAGR of 10.9% during the study period. In 2023, the market size is estimated to be USD 3.1 billion.
