According to Future Market Insights (FMI) analysis, the demand for microalgae in fertilizers sector is projected to experience steady growth. Its overall valuation is expected to surpass USD 28.7 million by 2033, up from USD 11 million in 2023.
Over the assessment period from 2023 to 2033, the demand for microalgae in fertilizers sector is forecasted to surge at a 10% CAGR.
The importance of sustainable agriculture methods is rising. This focus aims to minimize the environmental impact of conventional farming methods. Microalgae-based fertilizers provide an eco-friendly alternative to synthetic fertilizers. They could potentially improve the condition of the soil. Microalgae-based fertilizers can enhance nutrient uptake by plants. They also contribute to reducing chemical runoff into water bodies.
Microalgae are rich in essential nutrients like nitrogen, phosphorus, potassium, and trace elements. These nutrients are essential for the growth and development of plants. Farmers can provide a balanced nutrient supply to their crops by incorporating microalgae into fertilizers. This balanced nutrient supply can lead to improved yields and enhanced crop quality.
Microalgae contain various bioactive compounds such as amino acids, vitamins, enzymes, and plant growth regulators. These bioactive compounds have the potential to stimulate plant growth. They also enhance stress tolerance in plants and contribute to improved crop productivity. Microalgae-based fertilizers can effectively deliver these bioactive compounds to plants. By doing so, they promote the overall health and resilience of the plants.
The demand for organic food and products is experiencing a global rise. Microalgae-based fertilizers align with organic farming practices due to their natural source of derivation. These fertilizers do not contain synthetic chemicals or genetically modified organisms (GMOs). As a result, microalgae-based fertilizers are suitable for organic crop production.
| Attribute | Details |
|---|---|
| Historical Value (2022) | USD 10.2 million |
| Current Year Value (2023) | USD 11 million |
| Expected Forecast Value (2033) | USD 28.7 million |
| Projected CAGR (2023 to 2033) | 10% |
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The global demand for microalgae in fertilizers sector rose at a CAGR of 1.9% from 2018 to 2022 and is further expected to grow at a CAGR of 10% from 2023 to 2033.
Conventional fertilizers provide a high volume of nutrients. However, plants only absorb around a third of such nutrients, consequently reducing crop yields. To improve crop yield while reducing chemical use, manufacturers are engaging in research and developing bio-fertilizer offerings.
Farmers are exhibiting high demand for bio-fertilizers as they intend to obtain higher yields while reducing production costs and enhancing crop quality. The use of bio-fertilizers to improve nutrient uptake is propelling the microalgae industry.
Government initiatives play a significant role in driving the adoption of microalgae-based fertilizers. Many governments actively promote sustainable agriculture practices through various means, such as policies, incentives, and regulations. These governments encourage using environmentally friendly fertilizers as part of their sustainable agriculture initiatives.
The market for microalgae-based products, including fertilizers, is witnessing expansion. This growth is driven by farmers recognizing the benefits of microalgae-based products. The demand for these products is not limited to traditional agriculture but extends to horticulture, hydroponics, and vertical farming. Furthermore, the increasing popularity of sustainable gardening and urban agriculture practices contributes to the demand for microalgae-based fertilizers.
Microalgae are attracting fertilizer manufacturers and farmers, because of their bio-stimulant and bio-fertilizer properties, which enhance crop production and agriculture sustainability.
Bio-stimulants are organic materials used in fertilizers. A small number of bio-stimulants can accelerate the growth and development of crops under both favorable and stressful conditions. Bio-fertilizers containing living organisms and natural substances improve chemical and biological soil properties, restoring soil fertility and encouraging plant growth.
Applying microalgae bio-stimulants and bio-fertilizers with synthetic fertilizers and plant growth regulators improves the quality and productivity of the crop. Therefore, manufacturers in agrochemical industries utilize microalgae in various fertilizer products.
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Crop productivity in recent years has been hampered by factors such as soil salinization, irrigation inadequacy, temperature fluctuations, and others. Inadequate usage of chemical fertilization has led to an osmotic imbalance with subsequent damage to crop growth and yields.
Spirulina and chlorella microalgae variants have proven useful in bolstering the tolerance of wheat crops to salinity while increasing the antioxidant capacity and protein content of whole grains with microalgae fertilizers. Efficacy in reducing abiotic stress and improvements to productivity and quality drives demand in the fertilizer sector.
Algae-based fertilizers have the potential to improve agricultural sustainability while lowering reliance on fossil fuels. Chemical fertilizers might harden soil, increase air and water pollution levels, release greenhouse gases, and decrease the fertility of the soil.
Rising concerns about sustainable farming aid environment-friendly agriculture practices. Microalgae-based fertilizers reduce greenhouse gas emissions, fertilizing soil while improving productivity. As a result, increasing microalgae consumption in fertilizers for sustainable agriculture drives the demand in the long term.
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| Country | 2022 Value Share in Global Market |
|---|---|
| United States | 21% |
| Germany | 11.8% |
| Japan | 1.4% |
Microalgae consumption in fertilizer products in the United States is leading in the world. Rising awareness about environment-friendly agriculture practices, improved soil stability, and enhanced productivity and quality of corps fuel bio-fertilizers use in the United States agriculture sector.
Moreover, fertilizer manufacturers are investing in research and development to produce sustainable alternatives to overcome the problems associated with chemical fertilizer products for long-term opportunities.
Demand for microalgae in fertilizers sector in the United States has gained significant attention in recent years. The United States government has recognized the importance of sustainable agriculture and has implemented policies to support the developing adoptionting of eco-friendly fertilizers.
The United States has witnessed an increasing emphasis on sustainable agriculture practices. Microalgae-based fertilizers align with this trend as they offer organic and environmentally friendly alternatives to conventional chemical fertilizers.
The demand for microalgae in fertilizers sector in Germany has been steadily growing. Germany has witnessed a rise in organic farming practices. This trend is driven by consumer demand for sustainably produced food. Microalgae-based fertilizers align perfectly with organic farming principles.
They are environmentally friendly and promote soil health. Moreover, Germany has a high environmental consciousness and actively seeks eco-friendly solutions across various sectors, including agriculture.
Changes in climate, and constraints including abiotic stresses, hamper growth and productivity in the Europe agriculture sector. To increase productivity, farmers have started to apply NPK fertilizers, and biocides along with conventional practices. Microalgae are used extensively in fertilizers to reduce abiotic stress. As a result, the demand for microalgae increases in fertilizer formulations in the country.
Japan’s agriculture sector holds the ninth place in the world by volume. Rice and vegetables are the key crops in Japan. Government support to fulfill the raw material procurement including fertilizers, seeds, agrochemicals, and other products opens opportunities for manufacturers.
Moreover, the preference toward organic farming and bio-fertilizers to improve the quality of food products increase the demand for microalgae in these products. Additionally, spirulina and chlorella microalgae support the growth of vegetables in the country.
Microalgae-based fertilizers have gained significant attention in Japan lately. Their sustainable and environmentally friendly nature makes them appealing to farmers. Japan has a strong focus on sustainable agriculture and environmental preservation. This results in an increased demand for microalgae in fertilizers sector in Japan.
Japan has a long-standing tradition of seaweed cultivation. Seaweed, including various microalgae species, is extensively used in traditional Japanese cuisine. This cultural familiarity with algae-based products has created a favorable environment for accepting microalgae-based fertilizers.
| Country | Value CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 5.5% |
| China | 4.5% |
| India | 6.7% |
The population in the United Kingdom is increasingly aware of the environmental impact of conventional agriculture. This has led to a shift toward sustainable agricultural practices, including using eco-friendly fertilizers like microalgae-based fertilizers. The United Kingdom benefits from a vast coastline, providing ample opportunities for the cultivation and extraction of microalgae.
There has been a growing demand for organic food products in the United Kingdom. This demand is primarily driven by health consciousness and environmental awareness among consumers. Microalgae-based fertilizers align with this trend as they offer a natural and sustainable alternative to conventional fertilizers. Moreover, the growing demand for sustainable agricultural practices is likely to fuel the demand for microalgae in fertilizers sector in the United Kingdom.
The demand for microalgae in fertilizer sector in China has been growing in recent years. As the world's leading agricultural producer, China has been focusing on increasing agricultural productivity while reducing environmental impact. This has led to a rise in the adoption of innovative fertilizers incorporating microalgae.
The government has been supportive of sustainable agriculture practices. It has implemented policies to promote the use of environmentally friendly fertilizers. This has created a favorable market environment for microalgae-based fertilizers in the country. The government has encouraged research and development in this field. It also provided subsidies and incentives to companies engaged in producing and distributing innovative fertilizers.
India accounted for nearly 8% of the total global agriculture output, and the agriculture sector contributes more than 15% to the Indian GDP in 2021. The emerging economy contributes to modernization in the agriculture sector. Farmers prefer bio-fertilizers to maintain soil fertility in a sustainable manner. Therefore, changing consumer preference fuels fertilizer sales containing environment-friendly ingredients including microalgae ingredients.
The demand for microalgae in fertilizers in India is witnessing significant growth, given the government's increasing emphasis on environmental conservation. The government is formulating policies to incentivize the production and use of bio-fertilizers, including microalgae-based fertilizers. India's diverse climatic conditions and geographical locations offer a rich biodiversity of microalgae species.
Farmers increasingly adopt sustainable agricultural practices to minimize environmental impact and improve soil health. Microalgae-based fertilizers, known for their organic and bioactive properties, are gaining popularity among organic farmers. In India, there is a growing market for organic products. Health-conscious consumers and favorable government policies are the reason behind this.
| Segment | 2022 Global Value Share |
|---|---|
| Spirulina | 21.4% |
| Marine water | 45% |
| Biofertilizers | 23% |
The market growth prospects are optimistic due to advancements in organic farming practices and the increasing adoption of bio-fertilizers. Among microalgae species, spirulina dominated the market in 2022. Spirulina is a nutrient-rich microalgae. It includes trace elements as well as necessary elements including nitrogen, phosphorus, and potassium. The development of plants depends on these nutrients.
Spirulina can be cultivated in large-scale production systems using open ponds or closed bioreactors. It can be harvested frequently throughout the year. Furthermore, Spirulina cultivation can be carried out using sustainable practices. This includes utilizing wastewater as a nutrient source. These practices help reduce the environmental impact associated with conventional fertilizer production.
Spirulina has a high protein content, typically ranging from 50% to 70%. This makes it a desirable component for fertilizers. The protein content of spirulina also enhances microbial activity in the soil. This promotes nutrient availability to plants. Moreover, spirulina's natural origin and sustainable production methods make it a preferred choice for environmentally conscious consumers. Spirulina microalgae enhance plant growth and crop yield. Therefore, it is utilized in organic fertilizers.
The ample availability of resources drives the use of marine water-sourced microalgae. Improving technology for sustainable production is responsible for the significant growth of marine water microalgae in the fertilizers sector.
Marine water sources provide a rich and diverse environment for microalgae growth. The oceans and seas contain numerous species of microalgae. These microalgae are well-suited for commercial cultivation due to their high nutritional content and fast growth rates.
Marine water sources are typically rich in essential nutrients required for microalgae growth. These nutrients include nitrates, phosphates, and trace elements. These nutrients act as fertilizers for the microalgae. They support the rapid growth and biomass production of microalgae.
Many marine microalgae species have evolved to thrive in saline conditions. They can tolerate high salt concentrations. This characteristic sets them apart from freshwater microalgae. This makes them well-suited for cultivation in marine water sources.
Manufacturers are aiming at expanding their product portfolio to suit the agricultural requirements of farmers worldwide. Microalgae are becoming increasingly popular in the fertilizer sector.
Increased organic farming to meet consumer demand in addition to market concerns about soil sustainability, is encouraging key manufacturers to research and develop new fertilizers with microalgae. Expansion of product portfolios opens up new options for consumers. Several new players are entering the market to fill the gap between demand and supply.
Recent Developments
How Can Fertilizers Microalgae Market Players Grow Their Businesses?
The United States, Germany, and Japan are the dominant countries in the market.
The market is Germany recorded a growth of 11.8% in 2022.
India is experiencing a growth of 6.7% from 2023 to 2033.
The organic and sustainable agriculture segment is leading in the market.
Exploration of microalgae strains for specific nutrient content.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species Type 5.1. Spirulina 5.2. Chlorella 5.3. Dunaliella 5.4. Schizochytrium 5.5. Euglena 5.6. Nannochloropsis 5.7. Nostoc 5.8. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Marine water 6.2. Fresh Water 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Application 7.1. Biofertilizers 7.2. Biocontrole 7.3. Soil microalgae 7.4. Biostimulants 7.5. Fungicide & Insecticide 7.6. Pesticide 7.7. Soil Conditioner 7.8. Agriculture Herbicide 7.9. Animal Repellent 7.10. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. DIC Corporation 16.2. Cyanotech Corporation 16.3. Koninkliijke DSM NV 16.4. Roquette Frères 16.5. BASF SE 16.6. Fuji Chemical Industries Co., Ltd. 16.7. Parry Nutraceuticals 16.8. BGG (Beijing Gingko Group) 16.9. KDI Ingredients 16.10. Sinoway Industrial Co., Ltd. 16.11. INNOBIO Corporation Limited 16.12. Algenol 16.13. Algix 16.14. Allmicroalgae 16.15. Cellana LLC 16.16. Nikken Sohonsha Corp 16.17. Algaenergy 16.18. Inner Mongolia Rejuve Biotech Co. Ltd. 16.19. Algatec (Lusoamoreiras) 16.20. Nikken Sohonsha 17. Assumptions & Acronyms Used 18. Research Methodology
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Demand for Microalgae in Fertilizers Sector
