Market Overview
The global mycorrhizae-based biofertilizers market was valued at USD 468.51 million in 2022 and is expected to grow significantly at a compound annual growth rate (CAGR) of 14.7% during the forecast period. This exceptional growth trajectory is driven by increasing consumer demand for organic food, growing awareness of sustainable agricultural practices, and stringent regulations limiting the use of chemical fertilizers.
Mycorrhizae-based biofertilizers are a type of bio-input that leverages symbiotic associations between fungi and plant roots to improve nutrient uptake, water absorption, and soil health. These biofertilizers are gaining attention due to their eco-friendly nature and effectiveness in enhancing plant productivity. They help plants absorb phosphorus, nitrogen, and other essential minerals, which are often limited in conventional farming soils.
As farmers, agronomists, and environmental agencies globally strive to reduce the carbon footprint of agriculture and combat soil degradation, the demand for mycorrhizal biofertilizers is surging. With increasing governmental support and funding for organic farming and environmental sustainability, the industry is poised to become a critical component in the future of global agriculture.
Market Segmentation
To understand the industry dynamics comprehensively, the mycorrhizae-based biofertilizers market can be segmented into type, form, crop type, application, and distribution channel.
By Type
The market includes two major types of mycorrhizae:
Ectomycorrhizae
Ectomycorrhizae form symbiotic relationships with the outer cells of plant roots, mainly in trees and shrubs. These are commonly used in forestry and for perennial crops.
Endomycorrhizae (Arbuscular Mycorrhizae)
Endomycorrhizae penetrate plant root cells and are more commonly used in a wide range of agricultural crops such as wheat, rice, and maize. These types dominate the market due to their versatility and broad-spectrum applicability.
By Form
The market is segmented into:
Liquid Biofertilizers
These are preferred for easy application and compatibility with irrigation systems.
Powder and Granular Biofertilizers
These forms are favored for longer shelf life and stable storage.
By Crop Type
The market covers: